Geode Capital Management LLC Reduces Stock Position in Aurora Innovation, Inc. $AUR

Key Points

• Geode Capital Management cut its stake in Aurora Innovation by 24.0% in Q2, selling 5,890,200 shares and now owns 18,683,103 shares (about 1.06%) valued at roughly $98.16 million.
• Analyst coverage is mixed with a consensus rating of "Hold" and an average price target of $10.44; TD Cowen recently cut its target to $5.50 while some firms still maintain buy/outperform calls.
• Aurora shares are trading around $3.78 (near a 12‑month low of $3.60), the company reports negative EPS and sell‑side analysts forecast about -0.49 EPS for the current fiscal year; market cap is about $7.32 billion.

Geode Capital Management LLC lowered its stake in Aurora Innovation, Inc. (NASDAQ:AUR - Free Report) by 24.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 18,683,103 shares of the company's stock after selling 5,890,200 shares during the period. Geode Capital Management LLC owned 1.06% of Aurora Innovation worth $98,159,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. ARK Investment Management LLC increased its stake in Aurora Innovation by 11.0% during the second quarter. ARK Investment Management LLC now owns 2,732,200 shares of the company's stock valued at $14,317,000 after purchasing an additional 270,514 shares during the last quarter. KBC Group NV lifted its position in shares of Aurora Innovation by 462.9% in the 2nd quarter. KBC Group NV now owns 234,437 shares of the company's stock worth $1,228,000 after buying an additional 192,786 shares during the last quarter. Bouvel Investment Partners LLC acquired a new position in shares of Aurora Innovation in the 2nd quarter valued at about $697,000. Maryland State Retirement & Pension System bought a new stake in shares of Aurora Innovation during the 2nd quarter valued at about $251,000. Finally, Durable Capital Partners LP grew its position in shares of Aurora Innovation by 17.0% during the 1st quarter. Durable Capital Partners LP now owns 14,922,269 shares of the company's stock valued at $100,352,000 after buying an additional 2,165,114 shares during the last quarter. Institutional investors own 44.71% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AUR. TD Cowen cut their target price on shares of Aurora Innovation from $7.40 to $5.50 and set a "hold" rating on the stock in a report on Thursday, October 30th. UBS Group reiterated an "underperform" rating on shares of Aurora Innovation in a research report on Wednesday, October 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of Aurora Innovation in a report on Wednesday, October 8th. Oppenheimer restated an "outperform" rating and set a $15.00 price objective on shares of Aurora Innovation in a research note on Wednesday, October 29th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $15.00 target price on shares of Aurora Innovation in a research report on Wednesday, October 29th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $10.44.

Aurora Innovation Trading Up 0.3%

Shares of NASDAQ AUR opened at $3.78 on Friday. Aurora Innovation, Inc. has a 12-month low of $3.60 and a 12-month high of $10.77. The company has a market cap of $7.32 billion, a PE ratio of -8.40 and a beta of 2.44. The stock has a 50 day simple moving average of $5.08 and a 200-day simple moving average of $5.65.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last announced its earnings results on Tuesday, October 28th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01. The business had revenue of $1.00 million for the quarter, compared to the consensus estimate of $1.23 million. During the same period in the previous year, the firm earned ($0.13) EPS. Sell-side analysts forecast that Aurora Innovation, Inc. will post -0.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Aurora Innovation

In related news, Director Brittany Bagley sold 50,000 shares of Aurora Innovation stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $5.39, for a total transaction of $269,500.00. Following the sale, the director directly owned 398,372 shares in the company, valued at $2,147,225.08. The trade was a 11.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.85% of the stock is currently owned by corporate insiders.

Aurora Innovation Profile

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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