Connor Clark & Lunn Investment Management Ltd. Invests $1.60 Million in Aurora Innovation, Inc. $AUR

Key Points

• Connor Clark & Lunn Investment Management Ltd. has invested approximately $1.60 million in Aurora Innovation, Inc., acquiring 237,262 shares of the company.
• Aurora Innovation has received positive analyst ratings, with Canaccord Genuity raising its price target from $10.00 to $15.00 and labeling it as a "buy."
• Institutional investors own 44.71% of Aurora Innovation's stock, with notable investments from companies like Uber Technologies Inc. and Toyota Motor Corp. during the fourth quarter.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Aurora Innovation, Inc. (NASDAQ:AUR - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 237,262 shares of the company's stock, valued at approximately $1,596,000.

Several other large investors have also recently added to or reduced their stakes in AUR. Franklin Resources Inc. lifted its position 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 buying an additional 24,024 shares during the period. Wells Fargo & Company MN increased its stake 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 last quarter. Bank of Montreal Can acquired a new stake in Aurora Innovation during the fourth quarter worth about $66,000. Legal & General Group Plc increased its stake 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 last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Aurora Innovation during the fourth quarter worth about $702,000. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Aurora Innovation Stock Performance

Shares of AUR stock traded down $0.4120 during trading hours on Tuesday, reaching $6.0280. The company had a trading volume of 16,116,935 shares, compared to its average volume of 19,350,461. Aurora Innovation, Inc. has a twelve month low of $3.40 and a twelve month high of $10.77. The stock's fifty day simple moving average is $5.78 and its 200 day simple moving average is $6.49. The company has a market capitalization of $11.12 billion, a P/E ratio of -12.78 and a beta of 2.49.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.00 million for the quarter, compared to analyst estimates of $0.50 million. As a group, equities analysts expect that Aurora Innovation, Inc. will post -0.49 earnings per share for the current year.

Insider Buying and Selling

In other Aurora Innovation news, Director Gloria R. Boyland sold 46,097 shares of the firm'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 transaction of $272,894.24. Following the completion of the sale, the director owned 330,425 shares in the company, valued at $1,956,116. This trade represents a 12.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John J. Donahoe acquired 162,337 shares of the stock in a transaction on Wednesday, August 6th. The shares were acquired at an average price of $6.10 per share, with a total value of $990,255.70. Following the purchase, the director owned 162,337 shares in the company, valued at $990,255.70. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase 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.