Vanguard Group Inc. Increases Holdings in Aurora Innovation, Inc. (NASDAQ:AUR)

Key Points

• Vanguard Group Inc. increased its stake in Aurora Innovation, Inc. by 2.1%, holding approximately 6.63% of the company, valued at $776 million.
• Several hedge funds, including LPL Financial LLC and Franklin Resources Inc., significantly raised their stakes in Aurora Innovation during the fourth quarter, indicating renewed institutional interest.
• Aurora Innovation's stock has received positive ratings, with analysts setting price targets ranging from $7.00 to $15.00, reflecting a consensus average rating of "Moderate Buy."

Vanguard Group Inc. boosted its stake in Aurora Innovation, Inc. (NASDAQ:AUR - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,413,401 shares of the company's stock after purchasing an additional 2,392,995 shares during the period. Vanguard Group Inc. owned approximately 6.63% of Aurora Innovation worth $776,155,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in AUR. LPL Financial LLC raised its holdings in shares of Aurora Innovation by 223.4% during the 4th quarter. LPL Financial LLC now owns 284,993 shares of the company's stock valued at $1,795,000 after buying an additional 196,870 shares during the period. Franklin Resources Inc. raised its stake in shares of Aurora Innovation by 194.5% during the fourth quarter. Franklin Resources Inc. now owns 36,378 shares of the company's stock valued at $229,000 after purchasing an additional 24,024 shares during the period. Wells Fargo & Company MN lifted its position in shares of Aurora Innovation by 38.8% during the fourth quarter. Wells Fargo & Company MN now owns 561,721 shares of the company's stock worth $3,539,000 after purchasing an additional 157,012 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Aurora Innovation in the fourth quarter valued at $66,000. Finally, Legal & General Group Plc grew its holdings in Aurora Innovation by 34.9% during the 4th quarter. Legal & General Group Plc now owns 995,550 shares of the company's stock valued at $6,272,000 after purchasing an additional 257,489 shares in the last quarter. 44.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Aurora Innovation Stock Up 1.9%

NASDAQ:AUR opened at $6.36 on Wednesday. The company has a market cap of $11.74 billion, a PE ratio of -13.53 and a beta of 2.49. The business's 50 day moving average is $5.73 and its two-hundred day moving average is $6.50. Aurora Innovation, Inc. has a 52 week low of $3.36 and a 52 week high of $10.77.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $1.00 million for the quarter, compared to the consensus estimate of $0.50 million. As a group, sell-side analysts expect that Aurora Innovation, Inc. will post -0.49 EPS for the current fiscal year.

Insider Activity

In other Aurora Innovation news, Director Gloria R. Boyland sold 46,097 shares of Aurora Innovation stock in a transaction that occurred on 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. The trade was a 12.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John J. Donahoe purchased 162,337 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were bought at an average price of $6.10 per share, for a total transaction of $990,255.70. Following the completion of the transaction, the director directly owned 162,337 shares in the company, valued at approximately $990,255.70. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 11.85% of the company's stock.

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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