Aurora Innovation (NASDAQ:AUR) Director Reid Hoffman Sells 5,498,487 Shares of Stock

Aurora Innovation, Inc. (NASDAQ:AUR) Director Reid Hoffman sold 5,498,487 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $7.81, for a total value of $42,943,183.47. Following the sale, the director owned 77,500 shares of the company’s stock, valued at approximately $605,275. The trade was a 98.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Reid Hoffman also recently made the following trade(s):

• On Monday, May 18th, Reid Hoffman sold 347,646 shares of Aurora Innovation stock. The stock was sold at an average price of $7.51, for a total value of $2,610,821.46.

Aurora Innovation Trading Down 6.5%

Shares of Aurora Innovation stock opened at $6.94 on Wednesday. The business has a 50-day moving average price of $5.14 and a two-hundred day moving average price of $4.64. Aurora Innovation, Inc. has a 1-year low of $3.60 and a 1-year high of $8.56. The company has a market cap of $13.61 billion, a P/E ratio of -15.77 and a beta of 2.58.

Aurora Innovation (NASDAQ:AUR) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. The firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $0.97 million. Aurora Innovation had a negative return on equity of 40.45% and a negative net margin of 20,775.00%.The firm’s revenue was down 66.7% on a year-over-year basis. Equities research analysts forecast that Aurora Innovation, Inc. will post -0.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AUR. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Aurora Innovation in a research report on Monday, February 9th. Morgan Stanley restated an “overweight” rating and issued a $14.00 target price on shares of Aurora Innovation in a research note on Thursday, May 7th. TD Cowen raised their target price on Aurora Innovation from $4.70 to $7.00 and gave the company a “hold” rating in a research note on Thursday, May 7th. Needham & Company LLC restated a “buy” rating and issued a $13.00 target price on shares of Aurora Innovation in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group raised their target price on Aurora Innovation from $4.00 to $5.00 and gave the company a “neutral” rating in a research note on Friday, April 17th. Five research 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’s stock. According to data from MarketBeat, Aurora Innovation currently has an average rating of “Hold” and an average target price of $11.50.

Hedge Funds Weigh In On Aurora Innovation

A number of hedge funds and other institutional investors have recently modified their holdings of AUR. Garton & Associates Financial Advisors LLC purchased a new position in shares of Aurora Innovation in the 4th quarter worth approximately $35,000. Danske Bank A S purchased a new position in shares of Aurora Innovation in the 3rd quarter worth about $36,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Aurora Innovation in the 4th quarter worth about $39,000. Stonebridge Financial Group LLC MO purchased a new position in shares of Aurora Innovation in the 4th quarter worth about $40,000. Finally, Equitable Holdings Inc. purchased a new position in shares of Aurora Innovation in the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 44.71% 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.