Geode Capital Management LLC Increases Position in Aurora Innovation, Inc. $AUR

Geode Capital Management LLC lifted its holdings in Aurora Innovation, Inc. (NASDAQ:AUR) by 7.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,488,433 shares of the company’s stock after purchasing an additional 1,498,515 shares during the period. Geode Capital Management LLC owned about 1.11% of Aurora Innovation worth $82,535,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AUR. Capital Research Global Investors increased its stake in shares of Aurora Innovation by 35.9% in the 3rd quarter. Capital Research Global Investors now owns 71,298,585 shares of the company’s stock valued at $384,299,000 after purchasing an additional 18,820,542 shares in the last quarter. Vanguard Group Inc. increased its stake in Aurora Innovation by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 160,567,323 shares of the company’s stock worth $616,579,000 after buying an additional 17,818,179 shares in the last quarter. SG Americas Securities LLC increased its stake in Aurora Innovation by 6,824.0% during the 4th quarter. SG Americas Securities LLC now owns 9,645,035 shares of the company’s stock worth $37,037,000 after buying an additional 9,505,736 shares in the last quarter. Squarepoint Ops LLC increased its stake in Aurora Innovation by 3,256.1% during the 2nd quarter. Squarepoint Ops LLC now owns 6,753,259 shares of the company’s stock worth $35,387,000 after buying an additional 6,552,034 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in Aurora Innovation during the 2nd quarter worth approximately $31,250,000. Hedge funds and other institutional investors own 44.71% of the company’s stock.

Insider Activity

In other news, Director Reid Hoffman sold 1,202,354 shares of the company’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 value of $8,741,113.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 7,048,487 shares of company stock valued at $54,295,119 in the last ninety days. 8.52% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on AUR. TD Cowen boosted their price objective on Aurora Innovation from $4.70 to $7.00 and gave the stock a “hold” rating in a research note on Thursday, May 7th. Craig Hallum began coverage on shares of Aurora Innovation in a report on Friday. They set a “buy” rating and a $18.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Aurora Innovation in a report on Monday, February 9th. Morgan Stanley reaffirmed an “overweight” rating and set a $14.00 target price on shares of Aurora Innovation in a report on Thursday, May 7th. Finally, Wall Street Zen lowered shares of Aurora Innovation from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.25.

Aurora Innovation Price Performance

AUR stock opened at $6.31 on Monday. The business has a 50 day simple moving average of $5.87 and a 200-day simple moving average of $4.88. The firm has a market capitalization of $12.38 billion, a PE ratio of -14.34 and a beta of 2.62. Aurora Innovation, Inc. has a 1 year low of $3.60 and a 1 year high of $8.56.

Aurora Innovation (NASDAQ:AUR) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. The business had revenue of $1.00 million during the quarter, compared to analyst estimates 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 for the quarter was down 66.7% compared to the same quarter last year. On average, equities research analysts expect that Aurora Innovation, Inc. will post -0.47 EPS for the current year.

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.