Royal Bank of Canada Sells 88,762 Shares of Aurora Innovation, Inc. $AUR

Royal Bank of Canada trimmed its position in Aurora Innovation, Inc. (NASDAQ:AUR) by 14.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 544,308 shares of the company’s stock after selling 88,762 shares during the quarter. Royal Bank of Canada’s holdings in Aurora Innovation were worth $2,243,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Aurora Innovation by 12.5% during the fourth quarter. Vanguard Group Inc. now owns 160,567,323 shares of the company’s stock worth $616,579,000 after acquiring an additional 17,818,179 shares during the period. DNB Asset Management AS boosted its holdings in Aurora Innovation by 93.0% in the 4th quarter. DNB Asset Management AS now owns 1,037,510 shares of the company’s stock valued at $3,984,000 after purchasing an additional 499,935 shares during the period. Clare Market Investments LLC acquired a new position in shares of Aurora Innovation during the 1st quarter worth approximately $2,697,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of 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 worth $1,055,269,000 after purchasing an additional 16,933,373 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of Aurora Innovation by 55.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 566,105 shares of the company’s stock worth $2,174,000 after purchasing an additional 202,504 shares during the period. Institutional investors own 44.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AUR. TD Cowen increased their price target on Aurora Innovation from $4.70 to $7.00 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Northland Securities started coverage on Aurora Innovation in a report on Friday, May 29th. They issued an “outperform” rating and a $11.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $13.00 target price on shares of Aurora Innovation in a research report on Thursday, May 7th. Wall Street Zen lowered Aurora Innovation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $12.00 price target on shares of Aurora Innovation in a research report on Thursday, July 23rd. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.22.

Aurora Innovation Stock Down 0.3%

Shares of AUR stock opened at $6.97 on Tuesday. The company has a market cap of $13.97 billion, a P/E ratio of -14.83 and a beta of 2.64. The business has a fifty day simple moving average of $6.43 and a 200 day simple moving average of $5.65. Aurora Innovation, Inc. has a twelve month low of $3.60 and a twelve month high of $8.56.

Aurora Innovation (NASDAQ:AUR) last posted its earnings results on Wednesday, July 29th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.02). Aurora Innovation had a negative net margin of 18,000.00% and a negative return on equity of 43.94%. The firm had revenue of $2.00 million during the quarter, compared to the consensus estimate of $1.66 million. During the same quarter in the prior year, the business posted ($0.11) earnings per share. Aurora Innovation’s revenue for the quarter was up 100.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Aurora Innovation, Inc. will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David M. Wehner bought 82,500 shares of Aurora Innovation stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average cost of $6.04 per share, for a total transaction of $498,300.00. Following the completion of the acquisition, the director directly owned 246,519 shares of the company’s stock, valued at approximately $1,488,974.76. The trade was a 50.30% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Reid Hoffman sold 1,202,354 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $7.27, for a total transaction of $8,741,113.58. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,750,425 shares of company stock valued at $33,668,718 over the last ninety days. 8.52% of the stock is owned by company insiders.

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.