Uber Technologies Inc Makes New $2.05 Billion Investment in Aurora Innovation, Inc. (NASDAQ:AUR)

Uber Technologies Inc bought a new stake in shares of Aurora Innovation, Inc. (NASDAQ:AUR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 325,973,411 shares of the company's stock, valued at approximately $2,053,632,000. Aurora Innovation makes up approximately 42.2% of Uber Technologies Inc's holdings, making the stock its 2nd biggest holding. Uber Technologies Inc owned 18.97% of Aurora Innovation at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in AUR. Norges Bank purchased a new position in Aurora Innovation during the 4th quarter valued at $45,772,000. Price T Rowe Associates Inc. MD lifted its holdings in Aurora Innovation by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,671,319 shares of the company's stock valued at $168,030,000 after buying an additional 3,237,609 shares in the last quarter. Vanguard Group Inc. boosted its position in Aurora Innovation by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 113,020,406 shares of the company's stock valued at $712,029,000 after buying an additional 2,687,191 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in Aurora Innovation by 57.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,796,952 shares of the company's stock worth $30,221,000 after acquiring an additional 1,753,757 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. increased 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 period. 44.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Oppenheimer began coverage on Aurora Innovation in a report on Thursday, March 27th. They issued an "outperform" rating and a $15.00 target price for the company. Morgan Stanley started coverage on shares of Aurora Innovation in a report on Monday, March 3rd. They set an "overweight" rating and a $12.00 target price for the company. Evercore ISI increased their price target on shares of Aurora Innovation from $5.00 to $6.00 and gave the stock an "in-line" rating in a report on Tuesday, February 18th. TD Cowen initiated coverage on shares of Aurora Innovation in a report on Friday, March 7th. They issued a "hold" rating and a $8.00 price objective for the company. Finally, Canaccord Genuity Group increased their target price on shares of Aurora Innovation from $10.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday. 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 data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.25.

Aurora Innovation Price Performance

NASDAQ AUR traded down $0.43 during mid-day trading on Monday, hitting $7.71. The stock had a trading volume of 6,876,345 shares, compared to its average volume of 11,867,503. Aurora Innovation, Inc. has a twelve month low of $2.10 and a twelve month high of $10.77. The firm's 50 day moving average is $6.72 and its 200 day moving average is $6.78. The stock has a market capitalization of $13.43 billion, a price-to-earnings ratio of -16.39 and a beta of 2.77.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.11) earnings per share for the quarter. As a group, equities research analysts expect that Aurora Innovation, Inc. will post -0.49 earnings per share for the current year.

Aurora Innovation Profile

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.