Shah Wealth Advisors LLC Makes New Investment in Aurora Innovation, Inc. $AUR

Key Points

• Shah Wealth Advisors acquired 1,178,653 Aurora Innovation shares during the second quarter, valued at approximately $8.0 million and representing 1.9% of its portfolio.
• Institutional investors own 44.71% of Aurora, while insiders own 8.52%; however, insiders sold approximately 6.39 million shares worth $44.8 million over the past three months.
• Aurora reported a quarterly loss of $0.14 per share, missing estimates, despite revenue doubling year over year to $2.0 million. Analysts have a consensus “Hold” rating and an average price target of $12.22, compared with a recent share price of $6.34.

Shah Wealth Advisors LLC acquired a new stake in Aurora Innovation, Inc. (NASDAQ:AUR - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,178,653 shares of the company's stock, valued at approximately $8,038,000. Aurora Innovation comprises approximately 1.9% of Shah Wealth Advisors LLC's investment portfolio, making the stock its 16th largest position. Shah Wealth Advisors LLC owned 0.06% of Aurora Innovation at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AUR. Danske Bank A S bought a new stake in shares of Aurora Innovation during the 3rd quarter worth about $36,000. Versant Capital Management Inc raised its holdings in Aurora Innovation by 964.9% in the 2nd quarter. Versant Capital Management Inc now owns 8,019 shares of the company's stock valued at $55,000 after acquiring an additional 7,266 shares during the period. GAMMA Investing LLC raised its holdings in Aurora Innovation by 79.7% in the 2nd quarter. GAMMA Investing LLC now owns 8,501 shares of the company's stock valued at $58,000 after acquiring an additional 3,770 shares during the period. Garton & Associates Financial Advisors LLC acquired a new stake in Aurora Innovation during the fourth quarter worth approximately $35,000. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Aurora Innovation during the fourth quarter worth approximately $39,000. 44.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Aurora Innovation news, Director Michelangelo Volpi sold 2,842,682 shares of the firm's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $7.00, for a total transaction of $19,898,774.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David Wehner acquired 82,500 shares of the stock in a transaction on Thursday, June 11th. The shares were bought at an average price of $6.04 per share, for a total transaction of $498,300.00. Following the purchase, the director owned 246,519 shares in the company, valued at approximately $1,488,974.76. This trade represents a 50.30% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 6,390,753 shares of company stock worth $44,826,378 in the last three months. 8.52% of the stock is currently owned by company insiders.

Aurora Innovation Stock Up 0.3%

NASDAQ AUR opened at $6.34 on Friday. The company has a market capitalization of $12.71 billion, a P/E ratio of -13.49 and a beta of 2.63. Aurora Innovation, Inc. has a 12-month low of $3.60 and a 12-month high of $8.56. The firm has a 50-day moving average price of $6.34 and a two-hundred day moving average price of $5.80.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.02). Aurora Innovation had a negative return on equity of 43.94% and a negative net margin of 18,000.00%.The business had revenue of $2.00 million for the quarter, compared to the consensus estimate of $1.66 million. During the same period in the prior year, the business posted ($0.11) earnings per share. The firm's revenue for the quarter was up 100.0% compared to the same quarter last year. Equities analysts expect that Aurora Innovation, Inc. will post -0.48 EPS for the current year.

Analyst Ratings Changes

AUR has been the subject of a number of research analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Aurora Innovation in a report on Friday, July 17th. Craig Hallum began coverage on Aurora Innovation in a report on Friday, June 5th. They set a "buy" rating and a $18.00 price target for the company. Wall Street Zen cut Aurora Innovation from a "sell" rating to a "strong sell" rating in a report on Saturday, August 1st. Northland Securities began coverage on Aurora Innovation in a research note on Friday, May 29th. They issued an "outperform" rating and a $11.00 price target for the company. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $12.00 price objective on shares of Aurora Innovation in a report on Thursday, July 23rd. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $12.22.

About Aurora Innovation

Aurora Innovation, Inc is a technology company specializing in the development of self-driving vehicle systems for both passenger and commercial applications. Headquartered in Mountain View, California, Aurora has built an end-to-end platform—known as the Aurora Driver—that integrates proprietary software, machine learning algorithms and a suite of sensors (LiDAR, radar and cameras) to enable vehicles to operate safely and efficiently in diverse driving environments.

The company's core business revolves around designing, testing and deploying its autonomy stack on vehicles from established automotive and transportation partners.

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