Clare Market Investments LLC acquired a new stake in Aurora Innovation, Inc. (NASDAQ:AUR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 654,608 shares of the company's stock, valued at approximately $2,697,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AUR. Royal Bank of Canada boosted its holdings in shares of Aurora Innovation by 35.7% in the 1st quarter. Royal Bank of Canada now owns 227,475 shares of the company's stock valued at $1,530,000 after purchasing an additional 59,801 shares during the last quarter. AQR Capital Management LLC grew its position in Aurora Innovation by 9.4% in the first quarter. AQR Capital Management LLC now owns 166,257 shares of the company's stock valued at $1,118,000 after acquiring an additional 14,220 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Aurora Innovation by 6.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,046,760 shares of the company's stock worth $13,764,000 after buying an additional 127,953 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Aurora Innovation by 9.2% during the second quarter. Envestnet Asset Management Inc. now owns 32,868 shares of the company's stock valued at $172,000 after acquiring an additional 2,774 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of Aurora Innovation by 66.5% during the second quarter. Cetera Investment Advisers now owns 112,351 shares of the company's stock valued at $589,000 after acquiring an additional 44,867 shares in the last quarter. Hedge funds and other institutional investors own 44.71% of the company's stock.
Aurora Innovation Stock Performance
Shares of AUR stock opened at $6.58 on Tuesday. The stock has a market capitalization of $12.90 billion, a price-to-earnings ratio of -15.01 and a beta of 2.63. Aurora Innovation, Inc. has a one year low of $3.60 and a one year high of $8.56. The company's 50-day simple moving average is $6.66 and its 200-day simple moving average is $5.20.
Aurora Innovation (NASDAQ:AUR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01. Aurora Innovation had a negative return on equity of 40.45% and a negative net margin of 20,775.00%.The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $0.97 million. Aurora Innovation's quarterly revenue was down 66.7% on a year-over-year basis. As a group, research analysts forecast that Aurora Innovation, Inc. will post -0.47 EPS for the current year.
Insider Activity at Aurora Innovation
In related news, Director Reid Hoffman sold 5,498,487 shares of the firm's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $7.81, for a total transaction of $42,943,183.47. Following the transaction, the director directly owned 77,500 shares in the company, valued at $605,275. This trade represents a 98.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David M. Wehner acquired 82,500 shares of Aurora Innovation stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average price of $6.04 per share, for a total transaction of $498,300.00. Following the completion of the purchase, the director directly owned 246,519 shares of the company's stock, valued at $1,488,974.76. The trade was a 50.30% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders sold 7,048,487 shares of company stock valued at $54,295,119. Insiders own 8.52% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently commented on AUR. Needham & Company LLC reiterated a "buy" rating and issued a $13.00 price target on shares of Aurora Innovation in a research note on Thursday, May 7th. Northland Securities started coverage on Aurora Innovation in a research note on Friday, May 29th. They set an "outperform" rating and a $11.00 price objective for the company. TD Cowen lifted their price objective on Aurora Innovation from $4.70 to $7.00 and gave the stock a "hold" rating in a report on Thursday, May 7th. The Goldman Sachs Group upped their target price on Aurora Innovation from $4.00 to $5.00 and gave the company a "neutral" rating in a research report on Friday, April 17th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $14.00 target price on shares of Aurora Innovation in a research note on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $12.25.
Check Out Our Latest Analysis on AUR
About Aurora Innovation
(
Free Report)
Aurora Innovation, Inc is a technology company specializing in the development of self-driving vehicle systems for both passenger and commercial applications. Headquartered in Mountain View, California, Aurora has built an end-to-end platform—known as the Aurora Driver—that integrates proprietary software, machine learning algorithms and a suite of sensors (LiDAR, radar and cameras) to enable vehicles to operate safely and efficiently in diverse driving environments.
The company's core business revolves around designing, testing and deploying its autonomy stack on vehicles from established automotive and transportation partners.
See Also
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