Aurora Innovation (NASDAQ:AUR) Receives Buy Rating from Needham & Company LLC

Aurora Innovation (NASDAQ:AUR)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They currently have a $13.00 price target on the stock. Needham & Company LLC’s price target indicates a potential upside of 198.17% from the company’s current price.

AUR has been the subject of several other reports. TD Cowen restated a “hold” rating on shares of Aurora Innovation in a report on Thursday, October 30th. Cantor Fitzgerald reissued an “overweight” rating on shares of Aurora Innovation in a report on Monday. Canaccord Genuity Group restated a “buy” rating and set a $15.00 price objective on shares of Aurora Innovation in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aurora Innovation in a report on Wednesday, January 21st. Finally, Oppenheimer restated an “outperform” rating and set a $15.00 price target on shares of Aurora Innovation in a report on Wednesday, October 29th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Aurora Innovation currently has a consensus rating of “Hold” and an average price target of $10.06.

Aurora Innovation Trading Down 2.2%

Shares of NASDAQ AUR opened at $4.36 on Thursday. The stock has a market cap of $8.44 billion, a PE ratio of -9.69 and a beta of 2.47. Aurora Innovation has a 12-month low of $3.60 and a 12-month high of $10.77. The company has a 50-day moving average of $4.34 and a 200 day moving average of $4.97.

Aurora Innovation (NASDAQ:AUR) last issued its earnings results on Wednesday, February 11th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.01. The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $1.47 million. On average, sell-side analysts forecast that Aurora Innovation will post -0.49 EPS for the current fiscal year.

Insider Buying and Selling at Aurora Innovation

In related news, CEO Christopher Urmson purchased 258,000 shares of Aurora Innovation stock in a transaction dated Tuesday, November 25th. The shares were acquired at an average cost of $3.88 per share, with a total value of $1,001,040.00. Following the purchase, the chief executive officer owned 258,000 shares of the company’s stock, valued at approximately $1,001,040. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 11.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Aurora Innovation

Hedge funds have recently made changes to their positions in the stock. Nuveen LLC increased its holdings in Aurora Innovation by 17.3% in the 4th quarter. Nuveen LLC now owns 2,219,647 shares of the company’s stock valued at $8,523,000 after purchasing an additional 327,604 shares during the last quarter. Xponance LLC boosted its position in shares of Aurora Innovation by 10.5% during the fourth quarter. Xponance LLC now owns 58,736 shares of the company’s stock worth $226,000 after buying an additional 5,567 shares during the period. ARK Investment Management LLC grew its stake in shares of Aurora Innovation by 10.1% in the fourth quarter. ARK Investment Management LLC now owns 5,220,165 shares of the company’s stock valued at $20,045,000 after buying an additional 476,950 shares in the last quarter. Gateway Wealth Partners LLC purchased a new stake in shares of Aurora Innovation in the 4th quarter valued at $51,000. Finally, Primecap Management Co. CA raised its holdings in shares of Aurora Innovation by 3.5% in the 4th quarter. Primecap Management Co. CA now owns 10,203,580 shares of the company’s stock valued at $39,182,000 after buying an additional 345,000 shares during the period. Hedge funds and other institutional investors own 44.71% of the company’s stock.

Aurora Innovation Company Profile

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.