Agora, Inc. (NASDAQ:API) Holdings Trimmed by GGV Capital LLC

GGV Capital LLC lowered its position in shares of Agora, Inc. (NASDAQ:API - Free Report) by 16.0% during the 3rd quarter, according to its most recent disclosure 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 accounts for about 3.8% of GGV Capital LLC's investment portfolio, making the stock its 6th largest position. GGV Capital LLC owned approximately 1.82% of Agora worth $4,049,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in API. Acadian Asset Management LLC grew its position in shares of Agora by 8.4% during the second quarter. Acadian Asset Management LLC now owns 65,078 shares of the company's stock worth $137,000 after purchasing an additional 5,051 shares in the last quarter. Clearline Capital LP lifted its stake in Agora by 41.8% in the 2nd quarter. Clearline Capital LP now owns 122,999 shares of the company's stock worth $261,000 after purchasing an additional 36,244 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Agora by 23.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 275,866 shares of the company's stock worth $585,000 after purchasing an additional 52,432 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in Agora in the 2nd quarter worth $777,000. Hedge funds and other institutional investors own 40.40% of the company's stock.

Agora Price Performance

Shares of API stock traded up $0.03 on Tuesday, reaching $4.10. The company's stock had a trading volume of 485,044 shares, compared to its average volume of 788,566. The stock's fifty day simple moving average is $3.09 and its 200-day simple moving average is $2.63. Agora, Inc. has a 1 year low of $1.65 and a 1 year high of $6.43. The company has a current ratio of 8.29, a quick ratio of 8.29 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $378.02 million, a price-to-earnings ratio of -8.91 and a beta of -0.03.

Agora (NASDAQ:API - Get Free Report) last posted its 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). Agora had a negative net margin of 31.69% and a negative return on equity of 7.32%. The business had revenue of $34.21 million during the quarter, compared to analysts' expectations of $34.46 million. During the same period last year, the business posted ($0.45) earnings per share. Analysts forecast that Agora, Inc. will post -0.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Bank of America cut shares of Agora from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $4.00 to $2.63 in a research note on Tuesday, August 20th.

Agora 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.