Aurora Innovation, Inc. (NASDAQ:AUR) Stock Has Average Target Price of $13.22

Key Points

• Analysts have a consensus “Hold” rating on Aurora Innovation, with 8 buys, 2 holds and 3 sells. The average 12-month price target is $13.22, compared with the stock’s recent price of $5.40.
• Insiders have been selling shares: company director Michelangelo Volpi sold 2.84 million shares for nearly $19.9 million, while insiders sold 6.39 million shares worth $44.8 million over the past 90 days.
• Aurora reported quarterly revenue of $2.0 million, exceeding estimates, but its adjusted loss of $0.14 per share was wider than expected. Institutional investors own 44.71% of the stock, and several large firms recently increased their positions.

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) has been given a consensus rating of "Hold" by the thirteen analysts that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $13.22.

AUR has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $12.00 target price on shares of Aurora Innovation in a research report on Monday, September 21st. The Goldman Sachs Group lifted their target price on Aurora Innovation from $6.00 to $7.00 and gave the stock a "neutral" rating in a report on Thursday, September 24th. Wall Street Zen lowered Aurora Innovation from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 1st. Morgan Stanley upped their price target on Aurora Innovation from $14.00 to $18.00 and gave the company an "overweight" rating in a research report on Friday, September 11th. Finally, Oppenheimer increased their price target on Aurora Innovation from $15.00 to $16.00 and gave the company an "outperform" rating in a research note on Thursday, October 8th.

Insider Activity

In other news, Director Michelangelo Volpi sold 2,842,682 shares of the business's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $7.00, for a total value of $19,898,774.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 6,390,753 shares of company stock valued at $44,826,378. 8.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Aurora Innovation

Several large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its holdings in shares of Aurora Innovation by 130.0% during the first quarter. Bank of America Corp DE now owns 30,036,169 shares of the company's stock valued at $123,749,000 after purchasing an additional 16,975,927 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of 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 purchasing an additional 16,933,373 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Aurora Innovation by 2,068.8% in the 1st quarter. Janus Henderson Group PLC now owns 11,243,080 shares of the company's stock valued at $46,319,000 after buying an additional 10,724,682 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Aurora Innovation in the 2nd quarter valued at about $25,893,000. Finally, Bronte Capital Management Pty Ltd. acquired a new stake in shares of Aurora Innovation in the 1st quarter valued at about $9,553,000. Institutional investors and hedge funds own 44.71% of the company's stock.

Aurora Innovation Price Performance

Shares of Aurora Innovation stock opened at $5.40 on Friday. The company's 50 day moving average price is $6.10 and its two-hundred day moving average price is $6.12. The firm has a market capitalization of $10.82 billion, a P/E ratio of -11.49 and a beta of 2.69. Aurora Innovation has a fifty-two week low of $3.60 and a fifty-two week high of $8.56.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last released its quarterly 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 return on equity of 43.94% and a negative net margin of 18,000.00%. The firm had revenue of $2.00 million for the quarter, compared to the consensus estimate of $1.66 million. During the same quarter last year, the firm posted ($0.11) earnings per share. The business's revenue for the quarter was up 100.0% on a year-over-year basis. On average, analysts expect that Aurora Innovation will post -0.49 earnings per share for the current year.

About Aurora Innovation

Aurora Innovation, Inc develops autonomous driving technology for commercial and passenger vehicles. Its primary product is the Aurora Driver, an autonomous driving system designed to combine hardware, software and artificial intelligence to enable vehicles to operate without a human driver. The company focuses on applications including long-haul trucking, delivery and logistics, and autonomous ride-hailing.

Aurora works with automotive manufacturers, trucking companies, logistics providers and transportation platforms to integrate its technology into production vehicles and commercial fleets.

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