Wellington Management Group LLP Takes $25.89 Million Position in Aurora Innovation, Inc. $AUR

Key Points

• Wellington Management Group acquired 3.80 million Aurora Innovation shares worth approximately $25.9 million, giving it a 0.19% stake. Institutional investors collectively own 44.71% of the company.
• Analyst sentiment is mixed: seven analysts rate Aurora a Buy, two rate it Hold and two rate it Sell. The stock has an average rating of Hold and an average price target of $12.22, compared with its reported price of $6.34.
• Aurora reported $2.0 million in quarterly revenue, up 100% year over year, but missed the EPS consensus with a loss of $0.14 per share. Insider activity was also mixed, with a director purchasing shares while insiders sold 6.39 million shares worth $44.8 million over the past three months.

Wellington Management Group LLP purchased a new position in shares of Aurora Innovation, Inc. (NASDAQ:AUR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,796,580 shares of the company's stock, valued at approximately $25,893,000. Wellington Management Group LLP owned 0.19% of Aurora Innovation as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AUR. Ascent Wealth Partners LLC lifted its position in Aurora Innovation by 9.6% in the 1st quarter. Ascent Wealth Partners LLC now owns 15,820 shares of the company's stock worth $65,000 after buying an additional 1,389 shares in the last quarter. Gabelli Funds LLC increased its stake in shares of Aurora Innovation by 15.4% in the first quarter. Gabelli Funds LLC now owns 15,000 shares of the company's stock worth $62,000 after acquiring an additional 2,000 shares during the last quarter. Abel Hall LLC raised its holdings in shares of Aurora Innovation by 21.0% during the fourth quarter. Abel Hall LLC now owns 13,596 shares of the company's stock worth $52,000 after acquiring an additional 2,356 shares in the last quarter. World Investment Advisors boosted its position in Aurora Innovation by 7.4% during the fourth quarter. World Investment Advisors now owns 34,812 shares of the company's stock valued at $134,000 after purchasing an additional 2,406 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in Aurora Innovation by 20.1% in the second quarter. Cerity Partners LLC now owns 14,686 shares of the company's stock valued at $77,000 after purchasing an additional 2,458 shares in the last quarter. 44.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AUR has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aurora Innovation in a research note on Friday, July 17th. Wall Street Zen cut Aurora Innovation from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 1st. Craig Hallum assumed coverage on Aurora Innovation in a report on Friday, June 5th. They issued a "buy" rating and a $18.00 price objective on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $12.00 price objective on shares of Aurora Innovation in a research report on Thursday, July 23rd. Finally, Northland Securities started coverage on shares of Aurora Innovation in a research note on Friday, May 29th. They issued an "outperform" rating and a $11.00 target price for the company. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Aurora Innovation presently has an average rating of "Hold" and an average price target of $12.22.

Aurora Innovation Price Performance

Shares of NASDAQ:AUR opened at $6.34 on Friday. The stock has a market capitalization of $12.71 billion, a P/E ratio of -13.49 and a beta of 2.63. The business has a 50-day moving average of $6.34 and a two-hundred day moving average of $5.80. Aurora Innovation, Inc. has a fifty-two week low of $3.60 and a fifty-two week high of $8.56.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). Aurora Innovation had a negative net margin of 18,000.00% and a negative return on equity of 43.94%. The company had revenue of $2.00 million for the quarter, compared to analyst estimates of $1.66 million. During the same period in the prior year, the company posted ($0.11) EPS. The business's revenue was up 100.0% on a year-over-year basis. As a group, research analysts expect that Aurora Innovation, Inc. will post -0.48 EPS for the current fiscal year.

Insider Buying and Selling

In other Aurora Innovation news, Director David M. Wehner purchased 82,500 shares of the stock in a transaction dated Thursday, June 11th. The shares were bought at an average cost of $6.04 per share, with a total value of $498,300.00. Following the completion of the transaction, the director owned 246,519 shares in the company, valued at $1,488,974.76. This trade represents a 50.30% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michelangelo Volpi sold 2,842,682 shares of Aurora Innovation stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $7.00, for a total value of $19,898,774.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 6,390,753 shares of company stock worth $44,826,378. Insiders own 8.52% of the company's stock.

About Aurora Innovation

Aurora Innovation, Inc is a technology company specializing in the development of self-driving vehicle systems for both passenger and commercial applications. Headquartered in Mountain View, California, Aurora has built an end-to-end platform—known as the Aurora Driver—that integrates proprietary software, machine learning algorithms and a suite of sensors (LiDAR, radar and cameras) to enable vehicles to operate safely and efficiently in diverse driving environments.

The company's core business revolves around designing, testing and deploying its autonomy stack on vehicles from established automotive and transportation partners.

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