Nikko Asset Management Americas Inc. Sells 799,945 Shares of Aurora Innovation, Inc. (NASDAQ:AUR)

Key Points

• Nikko Asset Management Americas Inc. reduced its stake in Aurora Innovation, Inc. by 16.7%, selling nearly 800,000 shares and now owning approximately 0.23% valued at $26.86 million.
• Multiple large investors, including Uber Technologies and Toyota Motor Corp, acquired significant stakes in Aurora Innovation during the 4th quarter.
• Aurora Innovation's stock received positive price target upgrades from analysts, with ranges increasing from $10.00 to as high as $15.00, reflecting a consensus rating of "Moderate Buy."

Nikko Asset Management Americas Inc. reduced its stake in shares of Aurora Innovation, Inc. (NASDAQ:AUR - Free Report) by 16.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,997,007 shares of the company's stock after selling 799,945 shares during the quarter. Nikko Asset Management Americas Inc. owned about 0.23% of Aurora Innovation worth $26,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Aurora Innovation in the first quarter valued at $32,000. Signaturefd LLC grew its holdings in shares of Aurora Innovation by 208.0% in the first quarter. Signaturefd LLC now owns 5,283 shares of the company's stock valued at $36,000 after purchasing an additional 3,568 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Aurora Innovation by 147.3% in the first quarter. GAMMA Investing LLC now owns 5,922 shares of the company's stock valued at $40,000 after purchasing an additional 3,527 shares in the last quarter. Avantax Advisory Services Inc. purchased a new position in shares of Aurora Innovation in the fourth quarter valued at $65,000. Finally, Retirement Planning Group LLC purchased a new position in shares of Aurora Innovation in the first quarter valued at $70,000. 44.71% of the stock is owned by hedge funds and other institutional investors.

Aurora Innovation Price Performance

Shares of NASDAQ:AUR traded down $0.46 on Tuesday, hitting $5.83. 8,285,628 shares of the company's stock were exchanged, compared to its average volume of 18,915,051. Aurora Innovation, Inc. has a 12 month low of $3.25 and a 12 month high of $10.77. The stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of -12.20 and a beta of 2.48. The business's 50 day simple moving average is $5.73 and its two-hundred day simple moving average is $6.55.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.01). Equities analysts forecast that Aurora Innovation, Inc. will post -0.49 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on AUR. Needham & Company LLC raised their target price on shares of Aurora Innovation from $10.00 to $13.00 and gave the company a "buy" rating in a report on Friday, May 9th. The Goldman Sachs Group lifted their price objective on shares of Aurora Innovation from $6.00 to $7.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. Finally, Canaccord Genuity Group lifted their price objective on shares of Aurora Innovation from $10.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $10.75.

Insider Buying and Selling at Aurora Innovation

In related news, Director Gloria R. Boyland sold 46,097 shares of Aurora Innovation stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $5.92, for a total value of $272,894.24. Following the completion of the sale, the director directly owned 330,425 shares in the company, valued at $1,956,116. The trade was a 12.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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.