Aurora Innovation (NASDAQ:AUR) Director Michelangelo Volpi Sells 34,701 Shares

Key Points

• Director Michelangelo Volpi sold 34,701 Aurora Innovation shares at an average price of $7.00, totaling $242,907. This follows sales of more than 2 million shares worth approximately $14.3 million earlier in August.
• Aurora shares traded at $6.95, with the stock up from its 12-month low of $3.60 but below its high of $8.56. The company recently reported a quarterly loss of $0.14 per share, missing estimates, although revenue doubled year over year to $2 million.
• Analyst sentiment is mixed, with Aurora carrying a consensus rating of Hold and an average price target of $12.22. Institutional investors own 44.71% of the company, with several major firms increasing their holdings.

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) Director Michelangelo Volpi sold 34,701 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $7.00, for a total transaction of $242,907.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Michelangelo Volpi also recently made the following trade(s):

• On Friday, August 7th, Michelangelo Volpi sold 1,854,322 shares of Aurora Innovation stock. The shares were sold at an average price of $7.05, for a total transaction of $13,072,970.10.
• On Wednesday, August 5th, Michelangelo Volpi sold 179,782 shares of Aurora Innovation stock. The stock was sold at an average price of $7.07, for a total transaction of $1,271,058.74.

Aurora Innovation Price Performance

Shares of AUR stock traded down $0.03 on Tuesday, hitting $6.95. The stock had a trading volume of 14,878,054 shares, compared to its average volume of 23,557,223. Aurora Innovation, Inc. has a 12-month low of $3.60 and a 12-month high of $8.56. The business has a 50 day moving average of $6.42 and a 200 day moving average of $5.57. The stock has a market cap of $13.93 billion, a price-to-earnings ratio of -14.79 and a beta of 2.64.

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 company had revenue of $2.00 million during the quarter, compared to analysts' expectations of $1.66 million. Aurora Innovation had a negative net margin of 18,000.00% and a negative return on equity of 43.94%. The firm's revenue was up 100.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. As a group, research analysts expect that Aurora Innovation, Inc. will post -0.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Aurora Innovation by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 160,567,323 shares of the company's stock valued at $616,579,000 after buying an additional 17,818,179 shares in the last quarter. DNB Asset Management AS grew its stake in Aurora Innovation by 93.0% during the 4th quarter. DNB Asset Management AS now owns 1,037,510 shares of the company's stock valued at $3,984,000 after purchasing an additional 499,935 shares during the last quarter. Clare Market Investments LLC acquired a new position in shares of Aurora Innovation in the first quarter valued at about $2,697,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of Aurora Innovation by 6.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 274,809,541 shares of the company's stock valued at $1,055,269,000 after purchasing an additional 16,933,373 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of Aurora Innovation by 130.0% in the first quarter. Bank of America Corp DE now owns 30,036,169 shares of the company's stock worth $123,749,000 after purchasing an additional 16,975,927 shares during the last quarter. Hedge funds and other institutional investors own 44.71% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AUR shares. Craig Hallum began 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 on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $12.00 target price on shares of Aurora Innovation in a research report on Thursday, July 23rd. Wall Street Zen cut shares of Aurora Innovation from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $13.00 price objective on shares of Aurora Innovation in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group upped their price target on Aurora Innovation from $4.00 to $5.00 and gave the stock a "neutral" rating in a research note on Friday, April 17th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Aurora Innovation presently has an average rating of "Hold" and a consensus price target of $12.22.

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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