Permanent Capital Management LP Reduces Holdings in Aurora Innovation, Inc. $AUR

Permanent Capital Management LP reduced its stake in shares of Aurora Innovation, Inc. (NASDAQ:AUR) by 46.3% in the 4th quarter, HoldingsChannel reports. The firm owned 1,340,223 shares of the company’s stock after selling 1,154,317 shares during the quarter. Aurora Innovation makes up 1.0% of Permanent Capital Management LP’s portfolio, making the stock its 13th largest position. Permanent Capital Management LP’s holdings in Aurora Innovation were worth $5,146,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AUR. Capital Research Global Investors increased its position in Aurora Innovation by 35.9% during the third quarter. Capital Research Global Investors now owns 71,298,585 shares of the company’s stock worth $384,299,000 after buying an additional 18,820,542 shares in the last quarter. Norges Bank purchased a new stake in shares of Aurora Innovation in the second quarter valued at $42,421,000. Squarepoint Ops LLC boosted its stake in shares of Aurora Innovation by 3,256.1% during the second quarter. Squarepoint Ops LLC now owns 6,753,259 shares of the company’s stock valued at $35,387,000 after acquiring an additional 6,552,034 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Aurora Innovation during the second quarter valued at $31,250,000. Finally, Durable Capital Partners LP increased its position in Aurora Innovation by 36.7% during the 2nd quarter. Durable Capital Partners LP now owns 20,404,238 shares of the company’s stock worth $106,918,000 after purchasing an additional 5,481,969 shares in the last quarter. Hedge funds and other institutional investors own 44.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AUR. Weiss Ratings reissued a “sell (d-)” rating on shares of Aurora Innovation in a research note on Wednesday, January 21st. TD Cowen lowered their price target on shares of Aurora Innovation from $5.50 to $4.70 and set a “hold” rating for the company in a report on Friday, February 13th. Needham & Company LLC reissued a “buy” rating and issued a $13.00 price objective on shares of Aurora Innovation in a research report on Thursday, February 12th. Cantor Fitzgerald restated an “overweight” rating on shares of Aurora Innovation in a research report on Monday, February 9th. Finally, The Goldman Sachs Group lowered their target price on shares of Aurora Innovation from $6.00 to $4.00 and set a “neutral” rating for the company in a research note on Wednesday, November 26th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.34.

Aurora Innovation Stock Down 1.2%

Shares of AUR opened at $4.13 on Friday. Aurora Innovation, Inc. has a fifty-two week low of $3.60 and a fifty-two week high of $8.25. The company’s fifty day moving average is $4.47 and its two-hundred day moving average is $4.68. The firm has a market cap of $8.05 billion, a PE ratio of -9.18 and a beta of 2.45.

Aurora Innovation (NASDAQ:AUR) last released its quarterly earnings data on Wednesday, February 11th. The company reported ($0.12) EPS for the quarter, hitting analysts’ consensus estimates of ($0.12). The firm had revenue of $1.00 million for the quarter, compared to analyst estimates of $1.47 million. As a group, equities research analysts anticipate that Aurora Innovation, Inc. will post -0.49 earnings per share for the current year.

Aurora Innovation 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.