Informed Momentum Co LLC Acquires New Stake in Aurora Innovation, Inc. (NASDAQ:AUR)

Key Points

• Informed Momentum Co LLC has acquired a new position in Aurora Innovation, Inc. (NASDAQ:AUR), purchasing 410,809 shares valued at approximately $2.76 million.
• Analyst ratings for Aurora have been mostly positive, with firms like Goldman Sachs raising their price target from $6.00 to $7.00, while Needham & Company and Canaccord Genuity increased their targets to $13.00 and $15.00, respectively.
• Aurora reported a revenue of $1.00 million for its last quarter, outperforming analyst estimates, and the stock has a current average target price of $10.75.

Informed Momentum Co LLC acquired a new position in Aurora Innovation, Inc. (NASDAQ:AUR - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 410,809 shares of the company's stock, valued at approximately $2,763,000.

Other hedge funds also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Aurora Innovation during the first quarter worth about $32,000. Signaturefd LLC increased its position in shares of Aurora Innovation by 208.0% during the first quarter. Signaturefd LLC now owns 5,283 shares of the company's stock worth $36,000 after purchasing an additional 3,568 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Aurora Innovation by 147.3% during the first quarter. GAMMA Investing LLC now owns 5,922 shares of the company's stock worth $40,000 after purchasing an additional 3,527 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Aurora Innovation by 37.2% during the first quarter. PNC Financial Services Group Inc. now owns 7,683 shares of the company's stock worth $52,000 after purchasing an additional 2,085 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Aurora Innovation during the fourth quarter worth about $66,000. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Aurora Innovation

In other news, Director John J. Donahoe acquired 162,337 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were purchased at an average cost of $6.10 per share, with a total value of $990,255.70. Following the completion of the purchase, the director owned 162,337 shares of the company's stock, valued at $990,255.70. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gloria R. Boyland sold 46,097 shares of the company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $5.92, for a total transaction of $272,894.24. Following the sale, the director directly owned 330,425 shares in the company, valued at $1,956,116. This represents a 12.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 11.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. 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 report on Monday, May 12th. Needham & Company LLC upped their price objective on Aurora Innovation from $10.00 to $13.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Canaccord Genuity Group increased their price target on Aurora Innovation from $10.00 to $15.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $10.75.

Aurora Innovation Stock Up 1.6%

Shares of NASDAQ:AUR traded up $0.10 during trading on Wednesday, reaching $6.46. 22,458,870 shares of the company traded hands, compared to its average volume of 21,116,548. The firm has a fifty day simple moving average of $5.74 and a 200 day simple moving average of $6.50. The firm has a market cap of $11.92 billion, a P/E ratio of -13.74 and a beta of 2.49. Aurora Innovation, Inc. has a 1-year low of $3.36 and a 1-year high of $10.77.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported ($0.11) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.01. The firm had revenue of $1.00 million for the quarter, compared to analyst estimates of $0.50 million. As a group, research analysts anticipate that Aurora Innovation, Inc. will post -0.49 EPS for the current year.

Aurora Innovation Company 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.