ARK Investment Management LLC Raises Stock Position in Aurora Innovation, Inc. $AUR

Key Points

• ARK Investment Management LLC increased its shareholding in Aurora Innovation by 11.0% during Q2, owning approximately 2.73 million shares valued at $14.32 million.
• Aurora Innovation posted a quarterly earnings loss of $0.11 per share, surpassing analysts' expectations and reporting revenue of $1 million.
• Insider trading activity included the purchase of 162,337 shares by Director John J. Donahoe, while Director Brittany Bagley sold 50,000 shares, reflecting significant changes in their stock positions.

ARK Investment Management LLC boosted its position in shares of Aurora Innovation, Inc. (NASDAQ:AUR - Free Report) by 11.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,732,200 shares of the company's stock after purchasing an additional 270,514 shares during the period. ARK Investment Management LLC owned approximately 0.15% of Aurora Innovation worth $14,317,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AUR. GAMMA Investing LLC raised its stake in Aurora Innovation by 147.3% during the first quarter. GAMMA Investing LLC now owns 5,922 shares of the company's stock worth $40,000 after purchasing an additional 3,527 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in Aurora Innovation during the first quarter worth about $106,000. Janney Montgomery Scott LLC raised its stake in Aurora Innovation by 90.4% during the first quarter. Janney Montgomery Scott LLC now owns 28,810 shares of the company's stock worth $194,000 after purchasing an additional 13,675 shares during the period. Advisor Resource Council purchased a new position in Aurora Innovation during the first quarter worth about $90,000. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Aurora Innovation by 84.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 62,998 shares of the company's stock worth $424,000 after purchasing an additional 28,823 shares during the period. 44.71% of the stock is owned by hedge funds and other institutional investors.

Aurora Innovation Price Performance

Shares of AUR opened at $5.25 on Wednesday. Aurora Innovation, Inc. has a 1-year low of $4.75 and a 1-year high of $10.77. The stock has a market cap of $9.69 billion, a PE ratio of -11.17 and a beta of 2.45. The firm has a 50-day simple moving average of $5.70 and a two-hundred day simple moving average of $5.97.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported ($0.11) earnings per share 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 analyst estimates of $0.50 million. As a group, sell-side analysts expect that Aurora Innovation, Inc. will post -0.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aurora Innovation in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Aurora Innovation presently has an average rating of "Hold" and an average target price of $10.75.

Insider Buying and Selling

In other Aurora Innovation news, Director John J. Donahoe acquired 162,337 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average price of $6.10 per share, for a total transaction of $990,255.70. Following the completion of the acquisition, the director owned 162,337 shares of the company's stock, valued at approximately $990,255.70. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brittany Bagley sold 50,000 shares of Aurora Innovation stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $5.39, for a total transaction of $269,500.00. Following the completion of the transaction, the director owned 398,372 shares of the company's stock, valued at $2,147,225.08. This trade represents a 11.15% decrease in their position. The disclosure for this sale can be found here. Insiders own 11.85% of the company's stock.

Aurora Innovation 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.

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