Sumitomo Mitsui Trust Group Inc. Sells 328,081 Shares of Aurora Innovation, Inc. $AUR

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of Aurora Innovation, Inc. (NASDAQ:AUR) by 6.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,908,620 shares of the company’s stock after selling 328,081 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Aurora Innovation were worth $27,194,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp lifted its position in shares of Aurora Innovation by 6.0% during the 2nd quarter. State Street Corp now owns 22,922,729 shares of the company’s stock valued at $156,333,000 after acquiring an additional 1,293,487 shares during the period. Bank of America Corp DE boosted its stake in shares of 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 worth $123,749,000 after acquiring an additional 16,975,927 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Aurora Innovation by 4.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,807,009 shares of the company’s stock worth $48,621,000 after acquiring an additional 490,659 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Aurora Innovation by 2,068.8% during the 1st quarter. Janus Henderson Group PLC now owns 11,243,080 shares of the company’s stock worth $46,319,000 after acquiring an additional 10,724,682 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in shares of Aurora Innovation during the 2nd quarter worth approximately $25,893,000. 44.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AUR shares. Canaccord Genuity Group upped their price target on Aurora Innovation from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, September 24th. Needham & Company LLC reduced their price objective on Aurora Innovation from $13.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, October 29th. Northland Securities set a $10.00 price objective on Aurora Innovation in a report on Thursday, October 29th. Oppenheimer boosted their target price on Aurora Innovation from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, October 8th. Finally, Morgan Stanley upped their target price on Aurora Innovation from $14.00 to $18.00 and gave the company an “overweight” rating in a report on Friday, September 11th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.56.

Insider Transactions at Aurora Innovation

In related news, Director Michelangelo Volpi sold 2,842,682 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $7.00, for a total value of $19,898,774.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 4,356,649 shares of company stock valued at $30,482,350 in the last ninety days. 8.52% of the stock is currently owned by insiders.

Aurora Innovation Trading Down 1.2%

Shares of NASDAQ AUR opened at $4.03 on Friday. The stock has a market cap of $8.08 billion, a price-to-earnings ratio of -8.40 and a beta of 2.81. Aurora Innovation, Inc. has a 52 week low of $3.60 and a 52 week high of $8.56. The company’s 50-day moving average price is $5.56 and its 200 day moving average price is $5.60.

Aurora Innovation (NASDAQ:AUR) last posted its quarterly earnings data on Wednesday, October 28th. The company reported ($0.12) EPS for the quarter, meeting analysts’ consensus estimates of ($0.12). The company had revenue of $3.00 million during the quarter, compared to the consensus estimate of $2.99 million. Aurora Innovation had a negative net margin of 13,328.57% and a negative return on equity of 48.39%. The business’s quarterly revenue was up 200.0% on a year-over-year basis. As a group, research analysts expect that Aurora Innovation, Inc. will post -0.48 earnings per share for the current year.

Aurora Innovation Profile

Aurora Innovation, Inc develops autonomous driving technology for commercial trucks and passenger vehicles. Its core product, the Aurora Driver, combines artificial intelligence, sensors, mapping, and vehicle-control software to enable vehicles to perceive their surroundings, plan routes, and operate with limited or no human intervention.

The company focuses initially on autonomous trucking and freight transportation, while also developing technology for passenger mobility applications.