Insider Selling: Aurora Innovation (NASDAQ:AUR) Director Sells 2,842,682 Shares of Stock

Key Points

• Director Michelangelo Volpi sold 2.84 million Aurora Innovation shares on August 17 at an average $7.00 per share, generating approximately $19.9 million. Including several recent transactions, his disclosed sales totaled more than 6.4 million shares in August.
• Aurora’s stock recently traded at $6.20, with a market capitalization of about $12.43 billion. The company reported a quarterly loss of $0.14 per share, missing estimates, although revenue doubled year over year to $2 million.
• Analyst sentiment is mixed but leans positive: seven analysts rate the stock Buy, two Hold, and two Sell, producing an overall “Hold” rating and a consensus price target of $12.22. Institutional investors own approximately 44.71% of the company.

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) Director Michelangelo Volpi sold 2,842,682 shares of the company's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $7.00, for a total transaction of $19,898,774.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Michelangelo Volpi also recently made the following trade(s):

• On Thursday, August 13th, Michelangelo Volpi sold 22,501 shares of Aurora Innovation stock. The stock was sold at an average price of $7.01, for a total transaction of $157,732.01.
• On Wednesday, August 12th, Michelangelo Volpi sold 14,916 shares of Aurora Innovation stock. The stock was sold at an average price of $7.00, for a total transaction of $104,412.00.
• On Tuesday, August 11th, Michelangelo Volpi sold 1,441,849 shares of Aurora Innovation stock. The stock was sold at an average price of $6.99, for a total transaction of $10,078,524.51.
• On Monday, August 10th, Michelangelo Volpi sold 34,701 shares of Aurora Innovation stock. The stock was sold at an average price of $7.00, for a total transaction of $242,907.00.
• On Friday, August 7th, Michelangelo Volpi sold 1,854,322 shares of Aurora Innovation stock. The shares were sold at an average price of $7.05, for a total transaction of $13,072,970.10.
• On Wednesday, August 5th, Michelangelo Volpi sold 179,782 shares of Aurora Innovation stock. The shares were sold at an average price of $7.07, for a total transaction of $1,271,058.74.

Aurora Innovation Stock Up 0.8%

Shares of AUR traded up $0.05 during mid-day trading on Wednesday, hitting $6.20. 36,274,347 shares of the company's stock were exchanged, compared to its average volume of 23,975,445. The stock's 50-day simple moving average is $6.43 and its 200-day simple moving average is $5.66. The firm has a market cap of $12.43 billion, a price-to-earnings ratio of -13.19 and a beta of 2.64. Aurora Innovation, Inc. has a 52 week low of $3.60 and a 52 week high of $8.56.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The business had revenue of $2.00 million during the quarter, compared to the consensus estimate of $1.66 million. Aurora Innovation had a negative return on equity of 43.94% and a negative net margin of 18,000.00%.The firm's revenue for the quarter was up 100.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.11) earnings per share. Analysts forecast that Aurora Innovation, Inc. will post -0.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP purchased a new stake in shares of Aurora Innovation in the second quarter worth approximately $25,893,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Aurora Innovation in the second quarter valued at approximately $2,341,000. Handelsbanken Fonder AB grew its holdings in shares of Aurora Innovation by 18.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 398,600 shares of the company's stock valued at $2,718,000 after acquiring an additional 60,700 shares in the last quarter. FNY Investment Advisers LLC raised its stake in Aurora Innovation by 20.2% during the second quarter. FNY Investment Advisers LLC now owns 298,497 shares of the company's stock worth $2,035,000 after acquiring an additional 50,097 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Aurora Innovation by 79.7% in the second quarter. GAMMA Investing LLC now owns 8,501 shares of the company's stock worth $58,000 after purchasing an additional 3,770 shares during the period. Institutional investors own 44.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AUR. TD Cowen upped their price target on Aurora Innovation from $4.70 to $7.00 and gave the company a "hold" rating in a research report on Thursday, May 7th. Morgan Stanley reissued an "overweight" rating and set a $14.00 target price on shares of Aurora Innovation in a research note on Thursday, May 7th. Needham & Company LLC restated a "buy" rating and issued a $13.00 price target on shares of Aurora Innovation in a research report on Thursday, May 7th. Craig Hallum began coverage on shares of Aurora Innovation in a report on Friday, June 5th. They issued a "buy" rating and a $18.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Aurora Innovation from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 1st. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Aurora Innovation currently has an average rating of "Hold" and a consensus price target of $12.22.

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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