Aurora Innovation, Inc. $AUR Stock Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its Aurora Innovation stake by 6.3%, selling 328,081 shares in the third quarter; it retained about 4.91 million shares, valued at $27.2 million.
• Aurora reported a quarterly loss of $0.12 per share, in line with analyst estimates, and revenue of $3 million, slightly above expectations and up 200% year over year.
• Analysts’ consensus rating was “Moderate Buy,” with a consensus price target of $12.56. Shares opened at $4.03, while company insiders had sold about $30.5 million in stock over the prior three months.

Sumitomo Mitsui Trust Group Inc. reduced its stake in Aurora Innovation, Inc. (NASDAQ:AUR - Free Report) by 6.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,908,620 shares of the company's stock after selling 328,081 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Aurora Innovation worth $27,194,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of AUR. State Street Corp raised its stake in shares of Aurora Innovation by 6.0% during the second quarter. State Street Corp now owns 22,922,729 shares of the company's stock worth $156,333,000 after purchasing an additional 1,293,487 shares during the last quarter. Bank of America Corp DE lifted 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 worth $123,749,000 after purchasing an additional 16,975,927 shares during the period. Dimensional Fund Advisors LP grew its position in Aurora Innovation by 4.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 11,807,009 shares of the company's stock valued at $48,621,000 after buying an additional 490,659 shares during the last quarter. Janus Henderson Group PLC grew its position in 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 last quarter. Finally, Wellington Management Group LLP purchased a new position in Aurora Innovation in the 2nd quarter valued at $25,893,000. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

Aurora Innovation Trading Down 1.2%

Shares of AUR stock opened at $4.03 on Friday. The company has a market cap of $8.08 billion, a price-to-earnings ratio of -8.40 and a beta of 2.81. The stock has a 50 day simple moving average of $5.56 and a 200-day simple moving average of $5.60. Aurora Innovation, Inc. has a 12-month low of $3.60 and a 12-month high of $8.56.

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

Insider Transactions at Aurora Innovation

In other Aurora Innovation news, Director Michelangelo Volpi sold 2,842,682 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $7.00, for a total value of $19,898,774.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 4,356,649 shares of company stock valued at $30,482,350 in the last three months. Corporate insiders own 8.52% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on AUR shares. Morgan Stanley upped their price objective on shares of Aurora Innovation from $14.00 to $18.00 and gave the stock an "overweight" rating in a research report on Friday, September 11th. Northland Securities set a $10.00 target price on shares of Aurora Innovation in a research note on Thursday, October 29th. Oppenheimer lifted their target price on shares of Aurora Innovation from $15.00 to $16.00 and gave the company an "outperform" rating in a report on Thursday, October 8th. Needham & Company LLC dropped their price target on shares of Aurora Innovation from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, October 29th. Finally, 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. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $12.56.

Aurora Innovation Profile

Aurora Innovation, Inc develops autonomous driving technology for commercial trucks and passenger vehicles. Its core product, the Aurora Driver, combines artificial intelligence, sensors, mapping, and vehicle-control software to enable vehicles to perceive their surroundings, plan routes, and operate with limited or no human intervention.

The company focuses initially on autonomous trucking and freight transportation, while also developing technology for passenger mobility applications.

Want to see what other hedge funds are holding AUR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aurora Innovation, Inc. (NASDAQ:AUR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.