Wealthedge Investment Advisors LLC Invests $413,000 in Aurora Innovation, Inc. (NASDAQ:AUR)

Key Points

• Wealthedge Investment Advisors LLC invested approximately $413,000 in Aurora Innovation, acquiring 61,437 shares, in the first quarter as per their Form 13F filing.
• Aurora Innovation's stock received multiple price target increases from analysts, with Needham & Company setting a target of $13.00, and Canaccord Genuity raising theirs to $15.00, indicating a positive outlook with a consensus rating of “Moderate Buy.”
• Insider activity includes Director Gloria R. Boyland selling 46,097 shares, while John J. Donahoe acquired 162,337 shares, highlighting notable insider trading movements within the company.

Wealthedge Investment Advisors LLC purchased a new position in shares of Aurora Innovation, Inc. (NASDAQ:AUR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 61,437 shares of the company's stock, valued at approximately $413,000.

A number of other hedge funds also recently modified their holdings of the business. Lord Abbett & CO. LLC acquired a new stake in shares of Aurora Innovation during the first quarter worth about $2,720,000. Russell Investments Group Ltd. raised its position in Aurora Innovation by 3,111.9% in the 1st quarter. Russell Investments Group Ltd. now owns 154,075 shares of the company's stock valued at $1,036,000 after buying an additional 149,278 shares during the last quarter. Informed Momentum Co LLC acquired a new stake in Aurora Innovation in the 1st quarter valued at approximately $2,763,000. Mainsail Asset Management LLC acquired a new stake in Aurora Innovation in the 1st quarter valued at approximately $135,000. Finally, Nuveen LLC acquired a new stake in Aurora Innovation in the 1st quarter valued at approximately $17,152,000. Institutional investors and hedge funds own 44.71% of the company's stock.

Aurora Innovation Price Performance

AUR stock traded down $0.17 during mid-day trading on Friday, reaching $6.39. The company had a trading volume of 18,862,863 shares, compared to its average volume of 20,365,012. The stock has a 50 day simple moving average of $5.77 and a two-hundred day simple moving average of $6.50. The company has a market capitalization of $11.79 billion, a price-to-earnings ratio of -13.60 and a beta of 2.49. Aurora Innovation, Inc. has a 52 week low of $3.40 and a 52 week high of $10.77.

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

Insider Buying and Selling

In other Aurora Innovation news, Director Gloria R. Boyland sold 46,097 shares of the firm's 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. This trade represents a 12.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John J. Donahoe purchased 162,337 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was bought at an average price of $6.10 per share, with a total value of $990,255.70. Following the completion of the purchase, the director owned 162,337 shares of the company's stock, valued at approximately $990,255.70. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 11.85% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AUR shares. The Goldman Sachs Group lifted their target price on Aurora Innovation from $6.00 to $7.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Needham & Company LLC lifted their target price on Aurora Innovation from $10.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, Canaccord Genuity Group lifted their target price on Aurora Innovation from $10.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently 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.