259,833 Shares in Aurora Innovation, Inc. $AUR Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments bought 259,833 Aurora Innovation shares in the third quarter, valued at approximately $1.44 million. Institutional investors collectively own 44.71% of the company.
• Aurora insiders sold about 4.36 million shares worth $30.48 million over the past 90 days; insiders currently own 8.52% of the stock.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $12.56. Aurora reported quarterly revenue of $3 million, up 200% year over year, and a loss of $0.12 per share, in line with estimates.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Aurora Innovation, Inc. (NASDAQ:AUR - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 259,833 shares of the company's stock, valued at approximately $1,439,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position 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 acquiring an additional 16,975,927 shares during the period. Shah Wealth Advisors LLC purchased a new position in Aurora Innovation during the 2nd quarter valued at about $8,038,000. Public Employees Retirement System of Ohio purchased a new position in Aurora Innovation during the 2nd quarter valued at about $2,341,000. Wellington Management Group LLP acquired a new position in shares of Aurora Innovation in the 2nd quarter valued at about $25,893,000. Finally, Amundi increased its holdings in shares of Aurora Innovation by 46.4% in the 1st quarter. Amundi now owns 3,661,728 shares of the company's stock valued at $15,086,000 after purchasing an additional 1,160,872 shares during the period. Institutional investors and hedge funds own 44.71% of the company's stock.

Insiders Place Their Bets

In related news, Director Michelangelo Volpi sold 2,842,682 shares of the firm'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 transaction of $19,898,774.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 4,356,649 shares of company stock worth $30,482,350 over the last 90 days. 8.52% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AUR has been the subject of several research reports. Morgan Stanley raised their price target on shares of Aurora Innovation from $14.00 to $18.00 and gave the stock an "overweight" rating in a report on Friday, September 11th. Wall Street Zen lowered shares of Aurora Innovation from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 1st. Northland Securities set a $10.00 price objective on shares of Aurora Innovation in a research note on Thursday, October 29th. Oppenheimer increased their target price on shares of Aurora Innovation from $15.00 to $16.00 and gave the stock an "outperform" rating in a research report on Thursday, October 8th. Finally, Evercore reissued an "outperform" rating on shares of Aurora Innovation in a research note on Tuesday, September 15th. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $12.56.

Aurora Innovation Price Performance

AUR opened at $4.41 on Friday. Aurora Innovation, Inc. has a fifty-two week low of $3.60 and a fifty-two week high of $8.56. The business has a 50-day moving average of $5.53 and a 200-day moving average of $5.60. The company has a market capitalization of $8.84 billion, a PE ratio of -9.19 and a beta of 2.81.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The company reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). The business had revenue of $3.00 million during the quarter, compared to analysts' expectations of $2.99 million. Aurora Innovation had a negative return on equity of 48.39% and a negative net margin of 13,328.57%. The company's revenue was up 200.0% on a year-over-year basis. On average, equities research analysts expect that Aurora Innovation, Inc. will post -0.48 earnings per share for the current fiscal year.

About Aurora Innovation

Aurora Innovation, Inc develops autonomous vehicle technology through its Aurora Driver platform, which combines self-driving software, sensors and computing hardware. The system is designed for use in commercial trucking and passenger mobility applications.

Founded in 2017 by Chris Urmson, Sterling Anderson and Drew Bagnell, the company is headquartered in Pittsburgh, Pennsylvania. Aurora has focused on autonomous freight transportation in the United States, including development and testing of self-driving truck operations.

Aurora works with industry partners to develop and deploy vehicles equipped with its technology.

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