Aurora Innovation (NASDAQ:AUR) Shares Up 5.6% After Better-Than-Expected Earnings

Key Points

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Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s stock price was up 5.6% on Thursday following a stronger than expected earnings report. The stock traded as high as $6.33 and last traded at $6.12. Approximately 7,110,639 shares changed hands during trading, a decline of 62% from the average daily volume of 18,896,289 shares. The stock had previously closed at $5.79.

The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.01. The company had revenue of $1.00 million for the quarter, compared to the consensus estimate of $0.50 million.

Analysts Set New Price Targets

AUR has been the topic of a number of analyst reports. Canaccord Genuity Group increased their price objective on shares of Aurora Innovation from $10.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Needham & Company LLC increased their price objective on shares of Aurora Innovation from $10.00 to $13.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, The Goldman Sachs Group increased their price objective on shares of Aurora Innovation from $6.00 to $7.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Aurora Innovation currently has a consensus rating of "Moderate Buy" and an average price target of $10.75.

Insider Activity at Aurora Innovation

In other news, Director Gloria R. Boyland sold 46,097 shares of Aurora Innovation stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $5.92, for a total value of $272,894.24. Following the transaction, the director owned 330,425 shares of the company's stock, valued at $1,956,116. This trade represents a 12.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Aurora Innovation

A number of institutional investors and hedge funds have recently bought and sold shares of AUR. Raymond James Financial Inc. bought a new stake in Aurora Innovation in the 4th quarter valued at $702,000. Commonwealth Equity Services LLC increased its holdings in Aurora Innovation by 131.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 30,032 shares of the company's stock valued at $189,000 after buying an additional 17,053 shares during the period. LPL Financial LLC grew its holdings in shares of Aurora Innovation by 223.4% in the 4th quarter. LPL Financial LLC now owns 284,993 shares of the company's stock worth $1,795,000 after purchasing an additional 196,870 shares during the last quarter. Norges Bank bought a new stake in shares of Aurora Innovation in the 4th quarter worth about $45,772,000. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Aurora Innovation by 25.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 133,607 shares of the company's stock worth $842,000 after purchasing an additional 27,091 shares during the last quarter. Institutional investors own 44.71% of the company's stock.

Aurora Innovation Trading Down 2.8%

The company's fifty day moving average price is $5.71 and its two-hundred day moving average price is $6.54. The firm has a market cap of $9.99 billion, a P/E ratio of -12.02 and a beta of 2.49.

Aurora Innovation Company Profile

Aurora Innovation, Inc operates as a self-driving technology company in the United States. It focuses on developing Aurora Driver, a platform that brings a suite of self-driving hardware, software, and data services together to adapt and interoperate vehicles. The company was founded in 2017 and is headquartered in Pittsburgh, Pennsylvania.