Insider Selling: Aurora Innovation (NASDAQ:AUR) Director Sells $10,078,524.51 in Stock

Aurora Innovation, Inc. (NASDAQ:AUR) Director Michelangelo Volpi sold 1,441,849 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $6.99, for a total transaction of $10,078,524.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 shares were 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 shares were sold at an average price of $7.00, for a total transaction of $104,412.00.
• On Monday, August 10th, Michelangelo Volpi sold 34,701 shares of Aurora Innovation stock. The shares were sold at an average price of $7.00, for a total value of $242,907.00.
• On Friday, August 7th, Michelangelo Volpi sold 1,854,322 shares of Aurora Innovation stock. The stock was sold at an average price of $7.05, for a total value of $13,072,970.10.
• On Wednesday, August 5th, Michelangelo Volpi sold 179,782 shares of Aurora Innovation stock. The stock was sold at an average price of $7.07, for a total value of $1,271,058.74.

Aurora Innovation Stock Down 0.4%

Shares of NASDAQ AUR traded down $0.03 during trading on Thursday, reaching $6.84. The company had a trading volume of 15,549,812 shares, compared to its average volume of 23,566,215. Aurora Innovation, Inc. has a 12-month low of $3.60 and a 12-month high of $8.56. The business’s 50-day moving average is $6.40 and its 200 day moving average is $5.60. The stock has a market cap of $13.71 billion, a PE ratio of -14.55 and a beta of 2.64.

Aurora Innovation (NASDAQ:AUR) last posted its quarterly 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 company had revenue of $2.00 million during the quarter, compared to analysts’ expectations of $1.66 million. Aurora Innovation had a negative return on equity of 43.94% and a negative net margin of 18,000.00%.Aurora Innovation’s revenue for the quarter was up 100.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.11) EPS. On average, analysts anticipate that Aurora Innovation, Inc. will post -0.48 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AUR. 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. Craig Hallum initiated coverage on shares of Aurora Innovation in a research report on Friday, June 5th. They set a “buy” rating and a $18.00 price target for the company. Morgan Stanley restated an “overweight” rating and issued a $14.00 price objective on shares of Aurora Innovation in a report on Thursday, May 7th. Northland Securities began coverage on Aurora Innovation in a research report on Friday, May 29th. They issued an “outperform” rating and a $11.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aurora Innovation in a research report on Friday, July 17th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Aurora Innovation has a consensus rating of “Hold” and an average price target of $12.22.

Institutional Investors Weigh In On Aurora Innovation

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Aurora Innovation by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 160,567,323 shares of the company’s stock valued at $616,579,000 after acquiring an additional 17,818,179 shares during the last quarter. DNB Asset Management AS grew its stake in shares of Aurora Innovation by 93.0% in the fourth quarter. DNB Asset Management AS now owns 1,037,510 shares of the company’s stock worth $3,984,000 after acquiring an additional 499,935 shares during the period. Clare Market Investments LLC purchased a new position in shares of Aurora Innovation during the first quarter valued at approximately $2,697,000. T. Rowe Price Investment Management Inc. lifted its position in Aurora Innovation by 6.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 274,809,541 shares of the company’s stock valued at $1,055,269,000 after purchasing an additional 16,933,373 shares during the period. Finally, Bank of America Corp DE lifted its position in Aurora Innovation by 130.0% during the first quarter. Bank of America Corp DE now owns 30,036,169 shares of the company’s stock valued at $123,749,000 after purchasing an additional 16,975,927 shares during the period. 44.71% of the stock is currently owned by institutional investors.

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.