DNB Asset Management AS Buys 499,935 Shares of Aurora Innovation, Inc. $AUR

Key Points

• DNB Asset Management AS increased its stake in Aurora Innovation by 93% in the fourth quarter, buying 499,935 additional shares and bringing its total holdings to 1,037,510 shares worth about $3.98 million.
• Aurora Innovation reported a smaller-than-expected quarterly loss of ($0.11) per share and revenue of $1.0 million, though revenue was still down 66.7% from a year earlier.
• Insider and analyst sentiment is mixed: director Reid Hoffman sold 5.5 million shares, while Wall Street analysts currently rate the stock a consensus Hold with an average price target of $11.50.

DNB Asset Management AS boosted its stake in shares of Aurora Innovation, Inc. (NASDAQ:AUR - Free Report) by 93.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,037,510 shares of the company's stock after buying an additional 499,935 shares during the quarter. DNB Asset Management AS owned approximately 0.05% of Aurora Innovation worth $3,984,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of Aurora Innovation by 35.7% in the first quarter. Royal Bank of Canada now owns 227,475 shares of the company's stock worth $1,530,000 after purchasing an additional 59,801 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Aurora Innovation by 9.4% in the first quarter. AQR Capital Management LLC now owns 166,257 shares of the company's stock worth $1,118,000 after purchasing 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 shares of Aurora Innovation by 6.7% in the first 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 purchasing an additional 127,953 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Aurora Innovation by 9.2% in the second quarter. Envestnet Asset Management Inc. now owns 32,868 shares of the company's stock worth $172,000 after purchasing an additional 2,774 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of Aurora Innovation by 66.5% in the second quarter. Cetera Investment Advisers now owns 112,351 shares of the company's stock worth $589,000 after purchasing an additional 44,867 shares in the last quarter. Institutional investors own 44.71% of the company's stock.

Aurora Innovation Price Performance

Shares of Aurora Innovation stock opened at $6.94 on Wednesday. The firm has a market cap of $13.61 billion, a PE ratio of -15.77 and a beta of 2.58. Aurora Innovation, Inc. has a 1 year low of $3.60 and a 1 year high of $8.56. The company has a 50 day simple moving average of $5.14 and a two-hundred day simple moving average of $4.64.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.01. The firm had revenue of $1.00 million for the quarter, compared to the consensus estimate of $0.97 million. Aurora Innovation had a negative net margin of 20,775.00% and a negative return on equity of 40.45%. The firm's revenue for the quarter was down 66.7% compared to the same quarter last year. As a group, research analysts anticipate that Aurora Innovation, Inc. will post -0.46 earnings per share for the current year.

Insider Activity at Aurora Innovation

In related news, Director Reid Hoffman sold 5,498,487 shares of Aurora Innovation stock in a transaction on Friday, May 15th. The shares were sold at an average price of $7.81, for a total value of $42,943,183.47. Following the transaction, the director directly owned 77,500 shares of the company's stock, valued at $605,275. The trade was a 98.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.52% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AUR shares. Wall Street Zen downgraded shares of Aurora Innovation from a "hold" rating to a "sell" rating in a research note on Sunday, April 26th. TD Cowen lifted their target price on shares of Aurora Innovation from $4.70 to $7.00 and gave the stock a "hold" rating in a research note on Thursday, May 7th. Needham & Company LLC reiterated a "buy" rating and issued a $13.00 target price on shares of Aurora Innovation in a research note on Thursday, May 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Aurora Innovation in a research note on Monday, April 20th. Finally, The Goldman Sachs Group lifted their target price on shares of Aurora Innovation from $4.00 to $5.00 and gave the stock a "neutral" rating in a research note on Friday, April 17th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $11.50.

About Aurora Innovation

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.

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