Norges Bank Takes $45.77 Million Position in Aurora Innovation, Inc. (NASDAQ:AUR)

Norges Bank purchased a new stake in shares of Aurora Innovation, Inc. (NASDAQ:AUR) during the 4th quarter, HoldingsChannel reports. The firm purchased 7,265,446 shares of the company’s stock, valued at approximately $45,772,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AUR. JPMorgan Chase & Co. raised its stake in shares of Aurora Innovation by 40.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,380,479 shares of the company’s stock worth $8,172,000 after buying an additional 394,933 shares during the period. Vanguard Group Inc. lifted its holdings in Aurora Innovation by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 113,020,406 shares of the company’s stock valued at $712,029,000 after purchasing an additional 2,687,191 shares in the last quarter. Swiss National Bank grew its position in shares of Aurora Innovation by 22.3% in the fourth quarter. Swiss National Bank now owns 1,839,400 shares of the company’s stock valued at $11,588,000 after purchasing an additional 335,000 shares during the period. ARK Investment Management LLC increased its stake in shares of Aurora Innovation by 14.9% during the fourth quarter. ARK Investment Management LLC now owns 2,412,353 shares of the company’s stock worth $15,198,000 after purchasing an additional 312,144 shares in the last quarter. Finally, State Street Corp lifted its stake in Aurora Innovation by 15.2% in the 3rd quarter. State Street Corp now owns 22,183,252 shares of the company’s stock valued at $131,325,000 after buying an additional 2,920,653 shares in the last quarter. Hedge funds and other institutional investors own 44.71% of the company’s stock.

Aurora Innovation Trading Down 9.6 %

Shares of AUR stock opened at $5.68 on Friday. Aurora Innovation, Inc. has a twelve month low of $2.10 and a twelve month high of $10.77. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of -12.09 and a beta of 2.82. The company’s 50-day moving average price is $7.23 and its 200-day moving average price is $6.64.

Aurora Innovation (NASDAQ:AUR) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.11) earnings per share for the quarter. As a group, equities research analysts predict that Aurora Innovation, Inc. will post -0.49 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Morgan Stanley began coverage on Aurora Innovation in a research note on Monday, March 3rd. They set an “overweight” rating and a $12.00 price objective for the company. Canaccord Genuity Group increased their price objective on Aurora Innovation from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Evercore ISI lifted their target price on shares of Aurora Innovation from $5.00 to $6.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Aurora Innovation in a research note on Thursday, February 13th. Finally, TD Cowen assumed coverage on shares of Aurora Innovation in a research note on Friday, March 7th. They set a “hold” rating and a $8.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Aurora Innovation currently has an average rating of “Hold” and a consensus price target of $9.07.

About Aurora Innovation

Aurora Innovation, Inc operates as a self-driving technology company in the United States. It focuses on developing Aurora Driver, a platform that brings a suite of self-driving hardware, software, and data services together to adapt and interoperate vehicles. The company was founded in 2017 and is headquartered in Pittsburgh, Pennsylvania.