Nikko Asset Management Americas Inc. Lowers Stock Holdings in 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. trimmed its stake in Aurora Innovation, Inc. (NASDAQ:AUR - Free Report) by 16.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,997,007 shares of the company's stock after selling 799,945 shares during the period. 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).

Several other large investors have also modified their holdings of AUR. Uber Technologies Inc bought a new stake in shares of Aurora Innovation in the 4th quarter valued at about $2,053,632,000. Toyota Motor Corp bought a new stake in shares of Aurora Innovation in the 4th quarter valued at about $298,294,000. Lightspeed Management Company L.L.C. bought a new stake in shares of Aurora Innovation in the 4th quarter valued at about $74,003,000. Norges Bank bought a new stake in shares of Aurora Innovation in the 4th quarter valued at about $45,772,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Aurora Innovation by 13.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,671,319 shares of the company's stock valued at $168,030,000 after purchasing an additional 3,237,609 shares in the last quarter. Institutional investors own 44.71% of the company's stock.

Analysts Set New Price Targets

AUR has been the subject of several recent research reports. Needham & Company LLC boosted their price target 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. Canaccord Genuity Group boosted their price target on shares of Aurora Innovation from $10.00 to $15.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, The Goldman Sachs Group boosted 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. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Aurora Innovation presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.75.

Insiders Place Their Bets

In other Aurora Innovation news, Director Gloria R. Boyland sold 46,097 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $1,956,116. The trade was a 12.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 11.85% of the company's stock.

Aurora Innovation Stock Down 1.5%

NASDAQ AUR opened at $6.42 on Friday. The firm has a market cap of $11.36 billion, a PE ratio of -13.38 and a beta of 2.48. The company has a 50 day moving average price of $5.73 and a 200 day moving average price of $6.58. Aurora Innovation, Inc. has a 52 week low of $3.25 and a 52 week high of $10.77.

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). On average, equities research analysts anticipate that Aurora Innovation, Inc. will post -0.49 earnings per share 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.

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