Allspring Global Investments Holdings LLC Decreases Holdings in Agora, Inc. (NASDAQ:API)

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

A number of other institutional investors also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its position in shares of Agora by 0.5% during the third quarter. JPMorgan Chase & Co. now owns 610,457 shares of the company’s stock worth $1,471,000 after purchasing an additional 2,791 shares in the last quarter. TMT General Partner Ltd acquired a new stake in shares of Agora during the fourth quarter worth about $13,004,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Agora during the third quarter worth about $28,000. Clearline Capital LP increased its position in shares of Agora by 4.0% during the third quarter. Clearline Capital LP now owns 127,974 shares of the company’s stock worth $308,000 after purchasing an additional 4,975 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Agora during the third quarter worth about $27,000. 40.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Agora Stock Performance

Shares of API stock opened at $5.74 on Wednesday. The stock has a market capitalization 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, Inc. has a 52-week low of $1.65 and a 52-week high of $6.89. The stock’s 50-day moving average price is $4.92 and its 200 day moving average price is $3.79. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.06.

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

About Agora

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.