Informed Momentum Co LLC Makes New Investment 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 bought a new stake in Aurora Innovation, Inc. (NASDAQ:AUR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 410,809 shares of the company's stock, valued at approximately $2,763,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Toyota Motor Corp bought a new position in Aurora Innovation during the fourth quarter worth $298,294,000. Uber Technologies Inc bought a new position in Aurora Innovation during the fourth quarter worth $2,053,632,000. Cornerstone Wealth Management LLC boosted its position in Aurora Innovation by 153.3% during the first quarter. Cornerstone Wealth Management LLC now owns 185,457 shares of the company's stock worth $1,247,000 after purchasing an additional 112,237 shares during the period. Lightspeed Management Company L.L.C. bought a new stake in shares of Aurora Innovation in the fourth quarter valued at about $74,003,000. Finally, Archon Partners LLC bought a new stake in shares of Aurora Innovation in the fourth quarter valued at about $378,000. 44.71% of the stock is owned by institutional investors.

Aurora Innovation Price Performance

AUR stock traded down $0.13 during midday trading on Friday, reaching $6.44. The company had a trading volume of 7,378,801 shares, compared to its average volume of 19,293,482. The company has a market capitalization of $11.87 billion, a price-to-earnings ratio of -13.71 and a beta of 2.49. The stock has a 50 day moving average price of $5.76 and a 200-day moving average price of $6.50. Aurora Innovation, Inc. has a 1-year low of $3.40 and a 1-year high of $10.77.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group boosted their target price on shares of Aurora Innovation from $10.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Needham & Company LLC boosted their target price on shares of Aurora Innovation from $10.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, The Goldman Sachs Group boosted their target price on shares of Aurora Innovation from $6.00 to $7.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Aurora Innovation currently has an average rating of "Moderate Buy" and an average target price of $10.75.

Insider Transactions at Aurora Innovation

In other Aurora Innovation news, Director Gloria R. Boyland sold 46,097 shares of the business'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 completion of the transaction, the director owned 330,425 shares of the company's stock, valued at approximately $1,956,116. The trade was a 12.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John J. Donahoe bought 162,337 shares of the stock in a transaction on Wednesday, August 6th. The shares were acquired at an average cost of $6.10 per share, with a total value of $990,255.70. Following the purchase, the director owned 162,337 shares of the company's stock, valued at approximately $990,255.70. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 11.85% of the stock is owned by 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.