Aurora Innovation, Inc. (NASDAQ:AUR) Given Average Rating of "Hold" by Brokerages

Key Points

• Aurora Innovation has a consensus “Hold” rating from 11 brokerages, with seven buys, two holds and two sells. The average 12-month price target is $12.22, although targets range from $5 to $18.
• The company reported a quarterly loss of $0.14 per share, missing estimates by $0.02, while revenue reached $2.0 million and doubled year over year. Analysts expect a full-year loss of $0.49 per share.
• Insiders sold 7.05 million shares worth $54.3 million over the past 90 days, despite one director purchasing $498,300 of stock. Institutional investors own 44.71% of Aurora, with major holders including Vanguard and T. Rowe Price increasing their positions.

Shares of Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) have been given a consensus rating of "Hold" by the eleven brokerages that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $12.2222.

Several research analysts have commented on AUR shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Aurora Innovation in a report on Friday, July 17th. Wall Street Zen lowered shares of Aurora Innovation from a "sell" rating to a "strong sell" rating in a report on Saturday. The Goldman Sachs Group lifted their price objective on shares of Aurora Innovation from $4.00 to $5.00 and gave the stock a "neutral" rating in a research report on Friday, April 17th. Craig Hallum assumed coverage on shares of Aurora Innovation in a research note on Friday, June 5th. They set a "buy" rating and a $18.00 target price for the company. Finally, Morgan Stanley reissued an "overweight" rating and issued a $14.00 target price on shares of Aurora Innovation in a report on Thursday, May 7th.

Insider Transactions at Aurora Innovation

In other news, Director Reid Hoffman sold 1,202,354 shares of the company's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $7.27, for a total transaction of $8,741,113.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David M. Wehner acquired 82,500 shares of the company's stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $6.04 per share, for a total transaction of $498,300.00. Following the acquisition, the director owned 246,519 shares in the company, valued at approximately $1,488,974.76. The trade was a 50.30% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 7,048,487 shares of company stock valued at $54,295,119 over the last ninety days. 8.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AUR. Vanguard Group Inc. lifted its holdings in shares of Aurora Innovation by 12.5% in the 4th quarter. Vanguard Group Inc. now owns 160,567,323 shares of the company's stock valued at $616,579,000 after purchasing an additional 17,818,179 shares during the last quarter. Bank of America Corp DE grew its stake in Aurora Innovation by 130.0% during the 1st quarter. Bank of America Corp DE now owns 30,036,169 shares of the company's stock worth $123,749,000 after buying an additional 16,975,927 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Aurora Innovation by 6.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 274,809,541 shares of the company's stock worth $1,055,269,000 after buying an additional 16,933,373 shares during the last quarter. Janus Henderson Group PLC grew its stake in Aurora Innovation by 2,068.8% during the 1st quarter. Janus Henderson Group PLC now owns 11,243,080 shares of the company's stock worth $46,319,000 after buying an additional 10,724,682 shares during the last quarter. Finally, SC US Ttgp LTD. acquired a new position in Aurora Innovation during the fourth quarter worth approximately $33,830,000. 44.71% of the stock is owned by hedge funds and other institutional investors.

Aurora Innovation Stock Performance

Shares of AUR opened at $6.45 on Friday. Aurora Innovation has a 1 year low of $3.60 and a 1 year high of $8.56. The stock has a market capitalization of $12.65 billion, a PE ratio of -13.72 and a beta of 2.63. The stock has a 50-day simple moving average of $6.44 and a 200-day simple moving average of $5.46.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). The firm had revenue of $2.00 million for the quarter, compared to analysts' expectations of $1.66 million. Aurora Innovation had a negative return on equity of 43.94% and a negative net margin of 18,000.00%.The firm's quarterly revenue was up 100.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.11) earnings per share. Analysts predict that Aurora Innovation will post -0.49 EPS for the current year.

Aurora Innovation Company Profile

Aurora Innovation, Inc is a technology company specializing in the development of self-driving vehicle systems for both passenger and commercial applications. Headquartered in Mountain View, California, Aurora has built an end-to-end platform—known as the Aurora Driver—that integrates proprietary software, machine learning algorithms and a suite of sensors (LiDAR, radar and cameras) to enable vehicles to operate safely and efficiently in diverse driving environments.

The company's core business revolves around designing, testing and deploying its autonomy stack on vehicles from established automotive and transportation partners.

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