Sumitomo Mitsui Trust Group Inc. Lowers Holdings in Aurora Innovation, Inc. (NASDAQ:AUR)

Sumitomo Mitsui Trust Group Inc. cut its holdings in Aurora Innovation, Inc. (NASDAQ:AUR - Free Report) by 16.7% in the first quarter, according to the company in its most recent disclosure 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 quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Aurora Innovation worth $26,880,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AUR. Twin Tree Management LP increased its holdings in shares of Aurora Innovation by 217.2% in the 4th quarter. Twin Tree Management LP now owns 4,450 shares of the company's stock valued at $28,000 after acquiring an additional 3,047 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Aurora Innovation during the 1st quarter worth $32,000. GAMMA Investing LLC boosted its position in Aurora Innovation by 147.3% during 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 Aurora Innovation in the fourth quarter valued at about $65,000. Finally, Retirement Planning Group LLC purchased a new position in Aurora Innovation in the first quarter valued at about $70,000. 44.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AUR has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised their price target on shares of Aurora Innovation from $6.00 to $7.00 and gave the company a "neutral" rating in a report on Monday, May 12th. 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 research note on Friday, May 9th. Oppenheimer assumed coverage on shares of Aurora Innovation in a report on Thursday, March 27th. They issued an "outperform" rating and a $15.00 price target on the stock. Finally, Canaccord Genuity Group increased their price objective on Aurora Innovation from $10.00 to $15.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Aurora Innovation has a consensus rating of "Moderate Buy" and an average price target of $10.75.

Insiders Place Their Bets

In other news, Director Gloria R. Boyland sold 46,097 shares of the firm's 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 transaction, the director directly owned 330,425 shares in the company, valued at $1,956,116. This trade represents a 12.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 11.85% of the company's stock.

Aurora Innovation Price Performance

Aurora Innovation stock traded up $0.12 during mid-day trading on Friday, reaching $5.29. 11,175,563 shares of the company traded hands, compared to its average volume of 14,813,382. The firm's fifty day moving average is $6.16 and its two-hundred day moving average is $6.68. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of -11.01 and a beta of 2.48. Aurora Innovation, Inc. has a fifty-two week low of $2.87 and a fifty-two week high of $10.77.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.01). As a group, equities research analysts predict that Aurora Innovation, Inc. will post -0.49 earnings per share for the current 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.