Insider Selling: Aurora Innovation (NASDAQ:AUR) Director Sells 347,646 Shares of Stock

Aurora Innovation, Inc. (NASDAQ:AUR) Director Reid Hoffman sold 347,646 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $7.51, for a total value of $2,610,821.46. Following the sale, the director owned 60,118 shares of the company’s stock, valued at $451,486.18. This trade represents a 85.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, May 15th, Reid Hoffman sold 5,498,487 shares of Aurora Innovation stock. The stock was sold at an average price of $7.81, for a total value of $42,943,183.47.

Aurora Innovation Trading Down 6.5%

Shares of Aurora Innovation stock traded down $0.48 during trading hours on Tuesday, hitting $6.94. 31,062,828 shares of the company were exchanged, compared to its average volume of 31,658,058. Aurora Innovation, Inc. has a 1 year low of $3.60 and a 1 year high of $8.56. The business has a 50-day moving average of $5.14 and a 200-day moving average of $4.64. The stock has a market capitalization of $13.61 billion, a price-to-earnings ratio of -15.77 and a beta of 2.58.

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

Institutional Investors Weigh In On Aurora Innovation

Institutional investors have recently made changes to their positions in the company. Garton & Associates Financial Advisors LLC bought a new stake in shares of Aurora Innovation in the 4th quarter valued at approximately $35,000. Danske Bank A S acquired a new position in Aurora Innovation during the 3rd quarter valued at approximately $36,000. Eurizon Capital SGR S.p.A. acquired a new position in Aurora Innovation during the 4th quarter valued at approximately $39,000. Stonebridge Financial Group LLC MO acquired a new position in Aurora Innovation during the 4th quarter valued at approximately $40,000. Finally, Equitable Holdings Inc. acquired a new position in Aurora Innovation during the 4th quarter valued at approximately $41,000. 44.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AUR shares. The Goldman Sachs Group lifted their price objective on Aurora Innovation from $4.00 to $5.00 and gave the stock a “neutral” rating in a research report on Friday, April 17th. TD Cowen raised their price target on Aurora Innovation from $4.70 to $7.00 and gave the stock a “hold” rating in a research note on Thursday, May 7th. Wall Street Zen lowered Aurora Innovation from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Needham & Company LLC reissued a “buy” rating and issued a $13.00 price target on shares of Aurora Innovation in a research note on Thursday, May 7th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Aurora Innovation in a report on Monday, February 9th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $11.50.

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.