Aurora Innovation, Inc. $AUR Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. sold 70.9% of its holdings in Aurora Innovation, trimming its share count from 2,490,041 to 723,606 shares, valued at approximately $4.87 million.
• Company insiders, including Director John J. Donahoe and Director Gloria R. Boyland, made significant trades, with Donahoe purchasing 162,337 shares and Boyland selling 46,097 shares.
• Aurora Innovation's stock price saw a slight increase to $5.77, while the company has an average target price of $10.75 from several analysts, indicating positive outlook amidst a volatile market environment.

Invesco Ltd. decreased its stake in Aurora Innovation, Inc. (NASDAQ:AUR - Free Report) by 70.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 723,606 shares of the company's stock after selling 1,766,435 shares during the quarter. Invesco Ltd.'s holdings in Aurora Innovation were worth $4,866,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Toyota Motor Corp purchased a new stake in shares of Aurora Innovation in the fourth quarter worth about $298,294,000. Uber Technologies Inc purchased a new stake in shares of Aurora Innovation in the fourth quarter worth about $2,053,632,000. Cornerstone Wealth Management LLC boosted its stake in shares of Aurora Innovation by 153.3% in the first quarter. Cornerstone Wealth Management LLC now owns 185,457 shares of the company's stock worth $1,247,000 after buying an additional 112,237 shares during the last quarter. Lightspeed Management Company L.L.C. purchased a new stake in shares of Aurora Innovation in the fourth quarter worth about $74,003,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Aurora Innovation in the first quarter worth about $929,000. Hedge funds and other institutional investors own 44.71% of the company's stock.

Insider Buying and Selling

In other Aurora Innovation news, Director Gloria R. Boyland sold 46,097 shares of the 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 transaction, the director owned 330,425 shares of the company's stock, valued at $1,956,116. This represents a 12.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John J. Donahoe bought 162,337 shares of Aurora Innovation 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 acquisition, the director directly owned 162,337 shares of the company's stock, valued at approximately $990,255.70. The trade was 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 corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AUR shares. Needham & Company LLC upped their target price on Aurora Innovation from $10.00 to $13.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. The Goldman Sachs Group upped their target price on Aurora Innovation from $6.00 to $7.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $10.75.

Aurora Innovation Price Performance

NASDAQ AUR traded down $0.14 during trading hours on Friday, reaching $5.63. The company's stock had a trading volume of 9,627,101 shares, compared to its average volume of 22,677,500. The firm has a market capitalization of $10.39 billion, a price-to-earnings ratio of -11.98 and a beta of 2.49. Aurora Innovation, Inc. has a 1-year low of $3.81 and a 1-year high of $10.77. The company's 50-day moving average is $5.84 and its two-hundred day moving average is $6.42.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last released its quarterly 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 business had revenue of $1.00 million during the quarter, compared to analyst estimates of $0.50 million. Equities analysts forecast that Aurora Innovation, Inc. will post -0.49 EPS for the current fiscal 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.