Lightspeed Management Company L.L.C. Takes $74 Million Position in Aurora Innovation, Inc. (NASDAQ:AUR)

Lightspeed Management Company L.L.C. purchased a new stake in shares of Aurora Innovation, Inc. (NASDAQ:AUR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,746,572 shares of the company's stock, valued at approximately $74,003,000. Aurora Innovation makes up about 20.7% of Lightspeed Management Company L.L.C.'s investment portfolio, making the stock its 3rd biggest position. Lightspeed Management Company L.L.C. owned approximately 0.68% of Aurora Innovation as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AUR. Uber Technologies Inc acquired a new stake in shares of Aurora Innovation during the fourth quarter valued at about $2,053,632,000. Norges Bank acquired a new stake in shares of Aurora Innovation during the fourth quarter valued at about $45,772,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Aurora Innovation by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,671,319 shares of the company's stock valued at $168,030,000 after purchasing an additional 3,237,609 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Aurora Innovation by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 113,020,406 shares of the company's stock valued at $712,029,000 after purchasing an additional 2,687,191 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. raised its position in shares of Aurora Innovation by 57.6% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 4,796,952 shares of the company's stock worth $30,221,000 after acquiring an additional 1,753,757 shares during the last quarter. 44.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AUR. Oppenheimer began coverage on Aurora Innovation in a research report on Thursday, March 27th. They set an "outperform" rating and a $15.00 price objective for the company. Evercore ISI raised their price objective on Aurora Innovation from $5.00 to $6.00 and gave the stock an "in-line" rating in a research report on Tuesday, February 18th. Canaccord Genuity Group raised their price objective on Aurora Innovation from $10.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. The Goldman Sachs Group raised their price objective on Aurora Innovation from $6.00 to $7.00 and gave the stock a "neutral" rating in a research report on Monday. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $10.00 target price on shares of Aurora Innovation in a report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $10.75.

Aurora Innovation Trading Down 6.3%

AUR stock traded down $0.46 during mid-day trading on Wednesday, reaching $6.86. The company's stock had a trading volume of 147,765,417 shares, compared to its average volume of 12,769,616. The company has a market cap of $11.94 billion, a price-to-earnings ratio of -14.60 and a beta of 2.76. The business's 50 day moving average price is $6.77 and its 200 day moving average price is $6.84. Aurora Innovation, Inc. has a 12 month low of $2.10 and a 12 month high of $10.77.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.01). As a group, equities analysts expect that Aurora Innovation, Inc. will post -0.49 EPS for the current fiscal year.

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.