Agora, Inc. (NASDAQ:API) Shares Sold by GGV Capital LLC

GGV Capital LLC reduced its stake in shares of Agora, Inc. (NASDAQ:API) by 16.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,679,917 shares of the company’s stock after selling 320,000 shares during the quarter. Agora comprises approximately 3.8% of GGV Capital LLC’s portfolio, making the stock its 6th largest holding. GGV Capital LLC’s holdings in Agora were worth $4,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the company. Bank of Montreal Can purchased a new position in shares of Agora during the second quarter worth about $777,000. Dimensional Fund Advisors LP grew its holdings in Agora by 23.5% during the second quarter. Dimensional Fund Advisors LP now owns 275,866 shares of the company’s stock worth $585,000 after acquiring an additional 52,432 shares during the period. Clearline Capital LP raised its position in Agora by 41.8% in the second quarter. Clearline Capital LP now owns 122,999 shares of the company’s stock worth $261,000 after acquiring an additional 36,244 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Agora by 8.4% in the second quarter. Acadian Asset Management LLC now owns 65,078 shares of the company’s stock valued at $137,000 after acquiring an additional 5,051 shares during the period. 40.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Bank of America lowered shares of Agora from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $4.00 to $2.63 in a research report on Tuesday, August 20th.

Agora Stock Down 7.3 %

Shares of NASDAQ:API opened at $4.07 on Tuesday. The company has a quick ratio of 8.29, a current ratio of 8.29 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $375.26 million, a P/E ratio of -8.85 and a beta of -0.03. Agora, Inc. has a 52-week low of $1.65 and a 52-week high of $6.43. The stock’s fifty day simple moving average is $3.05 and its 200-day simple moving average is $2.62.

Agora (NASDAQ:API) last issued its quarterly earnings results on Monday, August 19th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The business had revenue of $34.21 million for the quarter, compared to analysts’ expectations of $34.46 million. Agora had a negative return on equity of 7.32% and a negative net margin of 31.69%. During the same period in the prior year, the company earned ($0.45) EPS. As a group, equities research analysts forecast that Agora, Inc. will post -0.21 earnings per share for the current fiscal year.

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.