Allspring Global Investments Holdings LLC Sells 273,000 Shares of Agora, Inc. (NASDAQ:API)

Allspring Global Investments Holdings LLC decreased its holdings in Agora, Inc. (NASDAQ:API) by 9.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,477,609 shares of the company’s stock after selling 273,000 shares during the period. Allspring Global Investments Holdings LLC owned about 2.69% of Agora worth $10,307,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of API. JPMorgan Chase & Co. grew its holdings in shares of Agora by 0.5% during the third quarter. JPMorgan Chase & Co. now owns 610,457 shares of the company’s stock valued at $1,471,000 after buying an additional 2,791 shares during the last quarter. Clearline Capital LP grew its holdings in shares of Agora by 4.0% during the third quarter. Clearline Capital LP now owns 127,974 shares of the company’s stock valued at $308,000 after buying an additional 4,975 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Agora during the third quarter valued at $27,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Agora during the third quarter valued at $28,000. Finally, Harber Asset Management LLC lifted its position in Agora by 6.1% during the third quarter. Harber Asset Management LLC now owns 2,141,000 shares of the company’s stock valued at $5,160,000 after purchasing an additional 123,523 shares during the period. Institutional investors own 40.40% of the company’s stock.

Agora Stock Down 3.9 %

API opened at $5.74 on Wednesday. Agora, Inc. has a twelve month low of $1.65 and a twelve month high of $6.89. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average price of $4.92 and a 200 day moving average price of $3.79. The company has a market cap of $529.23 million, a PE ratio of -11.71, a price-to-earnings-growth ratio of 4.34 and a beta of 0.38.

Agora (NASDAQ:API) last released its quarterly earnings results on Monday, November 25th. The company reported ($0.26) earnings per share for the quarter. Agora had a negative return on equity of 7.70% and a negative net margin of 33.74%. During the same quarter last year, the company posted ($0.23) EPS. Sell-side analysts expect that Agora, Inc. will post -0.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Bank of America upgraded shares of Agora from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $3.10 to $6.00 in a research report on Thursday, January 16th.

Agora Company Profile

Agora, Inc operates in real-time engagement technology business in the People's Republic of China, the United States, and internationally. The company offers real-time engagement platform-as-a-services providing developers with application programming interfaces to embed real-time voice, video, interactive live-streaming, chat, whiteboard, and artificial intelligence capabilities into their applications.