Wellington Management Group LLP Sells 678,357 Shares of Aurora Innovation, Inc. $AUR

Key Points

• Wellington Management Group LLP has reduced its stake in Aurora Innovation, Inc. by 43.5%, now holding approximately $5.92 million worth of shares after selling 678,357 shares in Q1.
• Brokerage ratings for Aurora Innovation show a consensus of "Moderate Buy"** with five analysts recommending a Buy, and price targets raised by multiple firms including Needham & Company and Canaccord Genuity Group.
• Aurora Innovation reported a quarterly earnings beat with an EPS of ($0.11), surpassing estimates, and generated revenue of $1.00 million, showing growth compared to analyst expectations.

Wellington Management Group LLP reduced its position in shares of Aurora Innovation, Inc. (NASDAQ:AUR - Free Report) by 43.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 880,686 shares of the company's stock after selling 678,357 shares during the period. Wellington Management Group LLP owned about 0.05% of Aurora Innovation worth $5,923,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Toyota Motor Corp acquired a new position in Aurora Innovation during the fourth quarter valued at approximately $298,294,000. Cornerstone Wealth Management LLC boosted its position in Aurora Innovation by 153.3% during the first quarter. Cornerstone Wealth Management LLC now owns 185,457 shares of the company's stock valued at $1,247,000 after purchasing an additional 112,237 shares during the last quarter. Lightspeed Management Company L.L.C. acquired a new position in Aurora Innovation during the fourth quarter valued at approximately $74,003,000. Teacher Retirement System of Texas acquired a new position in Aurora Innovation during the first quarter valued at approximately $929,000. Finally, Oppenheimer & Co. Inc. acquired a new position in Aurora Innovation during the first quarter valued at approximately $349,000. 44.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Aurora Innovation Price Performance

AUR stock traded down $0.14 during midday trading on Friday, reaching $5.63. 9,627,101 shares of the stock were exchanged, compared to its average volume of 22,677,500. The stock has a market capitalization of $10.39 billion, a PE ratio of -11.98 and a beta of 2.49. Aurora Innovation, Inc. has a 52 week low of $3.81 and a 52 week high of $10.77. The company has a fifty day moving average price of $5.84 and a 200 day moving average price of $6.42.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported ($0.11) earnings per share for the quarter, topping analysts' consensus estimates 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, analysts anticipate that Aurora Innovation, Inc. will post -0.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AUR. The Goldman Sachs Group increased their price target 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 increased their target price on Aurora Innovation from $10.00 to $13.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price 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.