Invesco Ltd. Sells 1,766,435 Shares of Aurora Innovation, Inc. $AUR

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

Other institutional investors and hedge funds also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Aurora Innovation in the 1st quarter worth approximately $32,000. Signaturefd LLC boosted its holdings in Aurora Innovation by 208.0% in the 1st quarter. Signaturefd LLC now owns 5,283 shares of the company's stock worth $36,000 after buying an additional 3,568 shares during the period. GAMMA Investing LLC boosted its holdings in Aurora Innovation by 147.3% in the 1st quarter. GAMMA Investing LLC now owns 5,922 shares of the company's stock worth $40,000 after buying an additional 3,527 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Aurora Innovation by 37.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,683 shares of the company's stock worth $52,000 after buying an additional 2,085 shares during the period. Finally, Retirement Planning Group LLC bought a new position in Aurora Innovation in the 1st quarter worth approximately $70,000. 44.71% of the stock is owned by institutional investors.

Aurora Innovation Price Performance

NASDAQ:AUR traded down $0.14 during trading hours on Friday, hitting $5.63. The stock had a trading volume of 9,627,101 shares, compared to its average volume of 22,052,202. The company has a 50 day simple moving average of $5.84 and a two-hundred day simple moving average of $6.40. The firm has a market capitalization of $10.39 billion, a price-to-earnings ratio of -11.98 and a beta of 2.48. Aurora Innovation, Inc. has a one year low of $3.81 and a one year high of $10.77.

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

Analysts Set New Price Targets

AUR has been the subject of several analyst reports. The Goldman Sachs Group raised their price objective on shares of 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 raised their price objective on shares of Aurora Innovation from $10.00 to $13.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $10.75.

Insider Buying and Selling at Aurora Innovation

In other news, Director Gloria R. Boyland sold 46,097 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $5.92, for a total transaction of $272,894.24. Following the sale, the director owned 330,425 shares in the company, valued at approximately $1,956,116. This trade represents a 12.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John J. Donahoe acquired 162,337 shares of the stock in a transaction dated Wednesday, August 6th. The shares were bought at an average price of $6.10 per share, for a total transaction of $990,255.70. Following the transaction, the director owned 162,337 shares in the company, valued at approximately $990,255.70. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 11.85% of the company's stock.

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.