Price T Rowe Associates Inc. MD Sells 342,003 Shares of Aurora Innovation, Inc. $AUR

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Aurora Innovation, Inc. by 1.3%, holding 26,329,316 shares valued at approximately $177 million after selling 342,003 shares.
• Aurora Innovation's Director, John J. Donahoe, bought 162,337 shares at an average price of $6.10, marking a significant increase in his ownership of the stock.
• The company reported a net loss of $0.11 EPS for the last quarter, exceeding estimates, with revenue of $1 million compared to the analyst's expectations of $0.50 million.

Price T Rowe Associates Inc. MD cut its stake in shares of Aurora Innovation, Inc. (NASDAQ:AUR - Free Report) by 1.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,329,316 shares of the company's stock after selling 342,003 shares during the period. Price T Rowe Associates Inc. MD owned about 1.51% of Aurora Innovation worth $177,065,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of AUR. Uber Technologies Inc purchased a new position in shares of Aurora Innovation in the fourth quarter valued at about $2,053,632,000. Vanguard Group Inc. lifted its position in shares of Aurora Innovation by 2.1% in the first quarter. Vanguard Group Inc. now owns 115,413,401 shares of the company's stock valued at $776,155,000 after acquiring an additional 2,392,995 shares in the last quarter. Toyota Motor Corp purchased a new position in shares of Aurora Innovation in the fourth quarter valued at about $298,294,000. Durable Capital Partners LP lifted its position in shares of Aurora Innovation by 8.4% in the fourth quarter. Durable Capital Partners LP now owns 12,757,155 shares of the company's stock valued at $80,370,000 after acquiring an additional 986,475 shares in the last quarter. Finally, Lightspeed Management Company L.L.C. purchased a new position in shares of Aurora Innovation in the fourth quarter valued at about $74,003,000. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

Aurora Innovation Trading Up 2.5%

Shares of NASDAQ:AUR traded up $0.15 during mid-day trading on Thursday, reaching $5.87. The stock had a trading volume of 3,537,888 shares, compared to its average volume of 19,501,596. The company has a market cap of $10.82 billion, a P/E ratio of -12.46 and a beta of 2.49. Aurora Innovation, Inc. has a 1 year low of $3.81 and a 1 year high of $10.77. The business's 50 day moving average price is $5.82 and its 200 day moving average price is $6.44.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.01. The firm had revenue of $1.00 million during the quarter, compared to analysts' expectations of $0.50 million. Analysts predict that Aurora Innovation, Inc. will post -0.49 earnings per share for the current fiscal year.

Insider Activity at Aurora Innovation

In related news, Director John J. Donahoe acquired 162,337 shares of Aurora Innovation stock in a transaction on Wednesday, August 6th. The shares were bought at an average cost of $6.10 per share, with a total value of $990,255.70. Following the completion of the purchase, the director directly owned 162,337 shares of the company's stock, valued at $990,255.70. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gloria R. Boyland sold 46,097 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $5.92, for a total value of $272,894.24. Following the sale, the director directly owned 330,425 shares in the company, valued at $1,956,116. The trade was a 12.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 11.85% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on AUR shares. Canaccord Genuity Group boosted their price objective on Aurora Innovation from $10.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. The Goldman Sachs Group boosted their price objective on Aurora Innovation from $6.00 to $7.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Finally, Needham & Company LLC boosted their price objective on Aurora Innovation from $10.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Aurora Innovation has an average rating of "Moderate Buy" and a consensus target price of $10.75.

About Aurora Innovation

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.