Berkshire Capital Holdings Inc. Takes $10.27 Million Position in Aurora Innovation, Inc. (NASDAQ:AUR)

Key Points

• Berkshire Capital Holdings Inc. invested approximately $10.27 million in Aurora Innovation, acquiring 1,527,520 shares, which now represents 4.9% of its investment portfolio.
• Aurora Innovation's latest quarterly earnings report showed an EPS of ($0.11), beating analysts’ expectations of ($0.12), with revenue of $1.00 million surpassing estimates of $0.50 million.
• The stock has been positively rated by several analysts, with target prices raised to as high as $15.00 by Canaccord Genuity, indicating strong market support.

Berkshire Capital Holdings Inc. bought a new position in shares of Aurora Innovation, Inc. (NASDAQ:AUR - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,527,520 shares of the company's stock, valued at approximately $10,273,000. Aurora Innovation accounts for approximately 4.9% of Berkshire Capital Holdings Inc.'s portfolio, making the stock its 9th largest holding. Berkshire Capital Holdings Inc. owned approximately 0.09% of Aurora Innovation at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AUR. Franklin Resources Inc. grew its holdings in Aurora Innovation by 194.5% during the fourth quarter. Franklin Resources Inc. now owns 36,378 shares of the company's stock worth $229,000 after acquiring an additional 24,024 shares during the period. Wells Fargo & Company MN grew its holdings in Aurora Innovation by 38.8% during the fourth quarter. Wells Fargo & Company MN now owns 561,721 shares of the company's stock worth $3,539,000 after acquiring an additional 157,012 shares during the period. Bank of Montreal Can acquired a new position in Aurora Innovation during the fourth quarter worth about $66,000. Legal & General Group Plc grew its holdings in Aurora Innovation by 34.9% during the fourth quarter. Legal & General Group Plc now owns 995,550 shares of the company's stock worth $6,272,000 after acquiring an additional 257,489 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Aurora Innovation during the fourth quarter worth about $702,000. 44.71% of the stock is owned by institutional investors and hedge funds.

Aurora Innovation Trading Down 2.6%

Shares of NASDAQ AUR opened at $6.39 on Friday. Aurora Innovation, Inc. has a one year low of $3.40 and a one year high of $10.77. The firm has a market capitalization of $11.79 billion, a PE ratio of -13.60 and a beta of 2.49. The business has a 50-day moving average price of $5.77 and a two-hundred day moving average price of $6.50.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.01. The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $0.50 million. Research analysts anticipate that Aurora Innovation, Inc. will post -0.49 EPS for the current year.

Analyst Ratings Changes

AUR has been the topic of a number of research analyst reports. Canaccord Genuity Group lifted their target price on Aurora Innovation from $10.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. The Goldman Sachs Group increased their price target 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 increased their price target on Aurora Innovation from $10.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $10.75.

Insider Transactions at Aurora Innovation

In other news, Director John J. Donahoe purchased 162,337 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was bought at an average cost of $6.10 per share, with a total value of $990,255.70. Following the purchase, the director directly owned 162,337 shares of the company's stock, valued at approximately $990,255.70. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gloria R. Boyland sold 46,097 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $1,956,116. This trade represents a 12.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.85% of the stock is owned by company insiders.

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.

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