Aurora Innovation (NASDAQ:AUR) Director Sells $42,943,183.47 in Stock

Aurora Innovation, Inc. (NASDAQ:AUR) Director Reid Hoffman sold 5,498,487 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $7.81, for a total value of $42,943,183.47. Following the completion of the sale, the director owned 77,500 shares of the company’s stock, valued at approximately $605,275. This represents a 98.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Monday, May 18th, Reid Hoffman sold 347,646 shares of Aurora Innovation stock. The shares were sold at an average price of $7.51, for a total value of $2,610,821.46.

Aurora Innovation Trading Up 0.7%

Shares of NASDAQ AUR opened at $7.17 on Friday. Aurora Innovation, Inc. has a 12-month low of $3.60 and a 12-month high of $8.56. The company has a market cap of $14.06 billion, a P/E ratio of -16.30 and a beta of 2.58. The stock has a fifty day moving average price of $5.25 and a 200 day moving average price of $4.66.

Aurora Innovation (NASDAQ:AUR) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $0.97 million. Aurora Innovation’s quarterly revenue was down 66.7% on a year-over-year basis. On average, sell-side analysts forecast that Aurora Innovation, Inc. will post -0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Aurora Innovation

A number of large investors have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. lifted its holdings in Aurora Innovation by 6.6% in the fourth 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. Vanguard Group Inc. lifted its holdings in Aurora Innovation by 12.5% in the fourth quarter. Vanguard Group Inc. now owns 160,567,323 shares of the company’s stock worth $616,579,000 after acquiring an additional 17,818,179 shares during the last quarter. Capital Research Global Investors lifted its holdings in Aurora Innovation by 35.9% in the third quarter. Capital Research Global Investors now owns 71,298,585 shares of the company’s stock worth $384,299,000 after acquiring an additional 18,820,542 shares during the last quarter. Bank of America Corp DE lifted its holdings in Aurora Innovation by 130.0% in the first 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 during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Aurora Innovation by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 21,488,433 shares of the company’s stock worth $82,535,000 after acquiring an additional 1,498,515 shares during the last quarter. Institutional investors own 44.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AUR. Needham & Company LLC restated a “buy” rating and set a $13.00 target price on shares of Aurora Innovation in a research note on Thursday, May 7th. TD Cowen raised their target price on Aurora Innovation from $4.70 to $7.00 and gave the company a “hold” rating in a research note on Thursday, May 7th. Cantor Fitzgerald restated an “overweight” rating on shares of Aurora Innovation in a research note on Monday, February 9th. Morgan Stanley restated an “overweight” rating and set a $14.00 target price on shares of Aurora Innovation in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group raised their target price on Aurora Innovation from $4.00 to $5.00 and gave the company a “neutral” rating in a research note on Friday, April 17th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.50.

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.