Aurora Innovation, Inc. (NASDAQ:AUR) Receives Average Rating of “Hold” from Analysts

Aurora Innovation, Inc. (NASDAQ:AUR) has earned an average rating of “Hold” from the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $12.2222.

Several analysts have recently weighed in on AUR shares. Wall Street Zen lowered shares of Aurora Innovation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $12.00 price target on shares of Aurora Innovation in a research report on Thursday, July 23rd. Craig Hallum assumed coverage on shares of Aurora Innovation in a research note on Friday, June 5th. They set a “buy” rating and a $18.00 price target for the company. The Goldman Sachs Group lifted their price objective on Aurora Innovation from $4.00 to $5.00 and gave the company a “neutral” rating in a report on Friday, April 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price objective on shares of Aurora Innovation in a research note on Thursday, May 7th.

Insider Activity at Aurora Innovation

In other Aurora Innovation news, Director Reid Hoffman sold 1,202,354 shares of the company’s stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David M. Wehner acquired 82,500 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were bought at an average price of $6.04 per share, with a total value of $498,300.00. Following the completion of the purchase, the director directly owned 246,519 shares of the company’s stock, valued at approximately $1,488,974.76. This represents a 50.30% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 7,228,269 shares of company stock valued at $55,566,177 in the last 90 days. 8.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Aurora Innovation

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of 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 buying an additional 17,818,179 shares in the last quarter. DNB Asset Management AS boosted its holdings in shares of Aurora Innovation by 93.0% in the 4th 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 in the last quarter. Clare Market Investments LLC bought a new stake in Aurora Innovation during the 1st quarter worth approximately $2,697,000. T. Rowe Price Investment Management Inc. grew its position in Aurora Innovation by 6.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 274,809,541 shares of the company’s stock worth $1,055,269,000 after acquiring an additional 16,933,373 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in Aurora Innovation by 130.0% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 44.71% of the company’s stock.

Aurora Innovation Trading Up 4.1%

Shares of NASDAQ AUR opened at $7.06 on Friday. The firm has a market capitalization of $14.15 billion, a price-to-earnings ratio of -15.02 and a beta of 2.64. Aurora Innovation has a one year low of $3.60 and a one year high of $8.56. The business has a fifty day simple moving average of $6.43 and a 200 day simple moving average of $5.54.

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

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.