Primecap Management Co. CA Cuts Stock Holdings in Aurora Innovation, Inc. (NASDAQ:AUR)

Key Points

• Primecap Management Co. CA reduced its stake in Aurora Innovation, Inc. by 0.6% in Q1, owning 10,134,040 shares valued at approximately $68.15 million.
• Several large investors, including Toyota and Uber, significantly increased their positions in Aurora during the fourth quarter, indicating strong institutional interest.
• Analysts have raised price targets for Aurora Innovation, with ratings reflecting a consensus of "Moderate Buy" and an average price target of $10.75.

Primecap Management Co. CA lowered its stake in shares of Aurora Innovation, Inc. (NASDAQ:AUR - Free Report) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,134,040 shares of the company's stock after selling 63,090 shares during the quarter. Primecap Management Co. CA owned 0.58% of Aurora Innovation worth $68,151,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Aurora Innovation during the first quarter worth $32,000. Signaturefd LLC grew its stake in shares of Aurora Innovation by 208.0% during the first quarter. Signaturefd LLC now owns 5,283 shares of the company's stock worth $36,000 after purchasing an additional 3,568 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Aurora Innovation by 147.3% during the first quarter. GAMMA Investing LLC now owns 5,922 shares of the company's stock worth $40,000 after purchasing an additional 3,527 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Aurora Innovation by 37.2% during the first quarter. PNC Financial Services Group Inc. now owns 7,683 shares of the company's stock worth $52,000 after purchasing an additional 2,085 shares in the last quarter. Finally, Retirement Planning Group LLC acquired a new position in shares of Aurora Innovation during the first quarter worth $70,000. Hedge funds and other institutional investors own 44.71% of the company's stock.

Insider Activity

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

Analyst Ratings Changes

A number of equities analysts recently commented on AUR shares. Needham & Company LLC boosted their target price on shares of 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 boosted their target price 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 boosted their target price 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 investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Aurora Innovation has a consensus rating of "Moderate Buy" and an average target price of $10.75.

Aurora Innovation Stock Performance

NASDAQ AUR traded down $0.04 during trading hours on Friday, hitting $6.16. The company had a trading volume of 47,500,098 shares, compared to its average volume of 19,821,476. Aurora Innovation, Inc. has a 1-year low of $3.36 and a 1-year high of $10.77. The business has a 50 day moving average of $5.71 and a 200-day moving average of $6.51.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate 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, analysts expect that Aurora Innovation, Inc. will post -0.49 earnings per share for the current year.

About Aurora Innovation

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.