T. Rowe Price Investment Management Inc. Cuts Position in Aurora Innovation, Inc. $AUR

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in Aurora Innovation, Inc. by 3.3%, now holding approximately 213.7 million shares, which constitutes 1.0% of their total holdings.
• Aurora Innovation's stock experienced a decline of 7.1% recently, and it currently has a market capitalization of $11.04 billion.
• Research analysts have set diverse price targets for Aurora Innovation, with estimates ranging from $7.00 to $15.00, indicating a general consensus of "Moderate Buy."

T. Rowe Price Investment Management Inc. trimmed its holdings in shares of Aurora Innovation, Inc. (NASDAQ:AUR - Free Report) by 3.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 213,655,720 shares of the company's stock after selling 7,366,756 shares during the quarter. Aurora Innovation accounts for about 1.0% of T. Rowe Price Investment Management Inc.'s holdings, making the stock its 15th largest position. T. Rowe Price Investment Management Inc. owned about 12.28% of Aurora Innovation worth $1,436,835,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Berkshire Capital Holdings Inc. bought a new position in Aurora Innovation in the 1st quarter valued at $10,273,000. Summit Securities Group LLC boosted its holdings in shares of Aurora Innovation by 467.8% in the 1st quarter. Summit Securities Group LLC now owns 10,073 shares of the company's stock worth $68,000 after buying an additional 8,299 shares during the last quarter. Algert Global LLC boosted its holdings in shares of Aurora Innovation by 40.6% in the 1st quarter. Algert Global LLC now owns 686,918 shares of the company's stock worth $4,620,000 after buying an additional 198,515 shares during the last quarter. Wealthedge Investment Advisors LLC bought a new position in Aurora Innovation during the first quarter valued at about $413,000. Finally, Lord Abbett & CO. LLC purchased a new stake in Aurora Innovation during the first quarter worth about $2,720,000. 44.71% of the stock is currently owned by institutional investors.

Aurora Innovation Trading Down 7.1%

Aurora Innovation stock opened at $5.98 on Wednesday. Aurora Innovation, Inc. has a 1-year low of $3.40 and a 1-year high of $10.77. The firm has a market capitalization of $11.04 billion, a price-to-earnings ratio of -12.72 and a beta of 2.49. The firm has a 50 day simple moving average of $5.78 and a 200 day simple moving average of $6.49.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.01. The company had revenue of $1.00 million for the quarter, compared to analysts' expectations of $0.50 million. On average, equities research analysts forecast that Aurora Innovation, Inc. will post -0.49 EPS for the current year.

Insider Transactions at Aurora Innovation

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

Analysts Set New Price Targets

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

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.

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