Aurora Innovation (NASDAQ:AUR) Director Michelangelo Volpi Sells 179,782 Shares

Key Points

• Director Michelangelo Volpi sold 179,782 Aurora Innovation shares at an average price of $7.07, generating approximately $1.27 million. The transaction reduced his holdings by 97.4%, leaving him with 4,803 shares.
• Aurora shares rose 4.1% to $7.06, while the company reported quarterly revenue of $2.0 million, exceeding expectations, but posted an adjusted loss of $0.14 per share that missed analyst estimates.
• Analyst sentiment remains mixed, with Aurora carrying an overall “Hold” rating and a consensus price target of $12.22; institutional investors own approximately 44.7% of the company.

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) Director Michelangelo Volpi sold 179,782 shares of the business's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $7.07, for a total value of $1,271,058.74. Following the completion of the transaction, the director owned 4,803 shares in the company, valued at $33,957.21. This trade represents a 97.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Aurora Innovation Stock Up 4.1%

AUR traded up $0.28 on Friday, hitting $7.06. 28,657,719 shares of the company traded hands, compared to its average volume of 23,630,059. Aurora Innovation, Inc. has a 12-month low of $3.60 and a 12-month high of $8.56. The company has a 50 day moving average of $6.43 and a 200-day moving average of $5.53. The stock has a market capitalization of $13.85 billion, a PE ratio of -15.02 and a beta of 2.64.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02). Aurora Innovation had a negative net margin of 18,000.00% and a negative return on equity of 43.94%. The company had revenue of $2.00 million during the quarter, compared to analysts' expectations of $1.66 million. During the same quarter last year, the business posted ($0.11) earnings per share. The company's revenue for the quarter was up 100.0% compared to the same quarter last year. On average, research analysts anticipate that Aurora Innovation, Inc. will post -0.48 EPS for the current year.

Wall Street Analyst Weigh In

AUR has been the subject of several recent analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Aurora Innovation in a report on Friday, July 17th. Wall Street Zen downgraded Aurora Innovation from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 1st. The Goldman Sachs Group raised their price target on Aurora Innovation from $4.00 to $5.00 and gave the company a "neutral" rating in a research report on Friday, April 17th. Northland Securities initiated coverage on shares of Aurora Innovation in a research report on Friday, May 29th. They issued an "outperform" rating and a $11.00 price objective on the stock. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $12.00 price objective on shares of Aurora Innovation in a research note on Thursday, July 23rd. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Aurora Innovation presently has an average rating of "Hold" and a consensus target price of $12.22.

Institutional Investors Weigh In On Aurora Innovation

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in Aurora Innovation by 35.7% during the first quarter. Royal Bank of Canada now owns 227,475 shares of the company's stock worth $1,530,000 after buying an additional 59,801 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Aurora Innovation by 9.4% in the first quarter. AQR Capital Management LLC now owns 166,257 shares of the company's stock valued at $1,118,000 after acquiring an additional 14,220 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Aurora Innovation by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,046,760 shares of the company's stock valued at $13,764,000 after acquiring an additional 127,953 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Aurora Innovation by 9.2% during the second quarter. Envestnet Asset Management Inc. now owns 32,868 shares of the company's stock valued at $172,000 after acquiring an additional 2,774 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of Aurora Innovation by 66.5% during the second quarter. Cetera Investment Advisers now owns 112,351 shares of the company's stock valued at $589,000 after acquiring an additional 44,867 shares during the last quarter. Hedge funds and other institutional investors own 44.71% of the company's stock.

About Aurora Innovation

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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