TD Cowen Lowers Aurora Innovation (NASDAQ:AUR) Price Target to $4.70

Aurora Innovation (NASDAQ:AUR) had its price target decreased by analysts at TD Cowen from $5.50 to $4.70 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s price target suggests a potential upside of 5.50% from the stock’s current price.

A number of other research analysts also recently commented on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $15.00 target price on shares of Aurora Innovation in a research report on Wednesday, October 29th. UBS Group reissued an “underperform” rating on shares of Aurora Innovation in a research report on Wednesday, October 29th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Aurora Innovation in a research report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Aurora Innovation in a report on Wednesday, January 21st. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $15.00 target price on shares of Aurora Innovation in a report on Wednesday, October 29th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $9.96.

Aurora Innovation Price Performance

Shares of NASDAQ:AUR traded up $0.24 during midday trading on Friday, reaching $4.46. 5,663,942 shares of the company’s stock were exchanged, compared to its average volume of 17,203,686. The firm’s 50 day simple moving average is $4.33 and its two-hundred day simple moving average is $4.97. Aurora Innovation has a fifty-two week low of $3.60 and a fifty-two week high of $10.77. The stock has a market cap of $8.62 billion, a price-to-earnings ratio of -9.81 and a beta of 2.47.

Aurora Innovation (NASDAQ:AUR) last posted its quarterly earnings data on Wednesday, February 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12). The firm had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $1.47 million. Equities research analysts predict that Aurora Innovation will post -0.49 earnings per share for the current fiscal year.

Insider Transactions at Aurora Innovation

In related news, CEO Christopher Urmson bought 258,000 shares of the stock in a transaction on Tuesday, November 25th. The shares were bought at an average cost of $3.88 per share, for a total transaction of $1,001,040.00. Following the completion of the transaction, the chief executive officer owned 258,000 shares of the company’s stock, valued at $1,001,040. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 11.85% of the company’s stock.

Institutional Investors Weigh In On Aurora Innovation

A number of large investors have recently bought and sold shares of AUR. Capital Research Global Investors raised its stake in Aurora Innovation by 35.9% during the third quarter. Capital Research Global Investors now owns 71,298,585 shares of the company’s stock worth $384,299,000 after purchasing an additional 18,820,542 shares during the period. Vanguard Group Inc. raised its holdings in shares of Aurora Innovation by 12.5% in the 4th quarter. Vanguard Group Inc. now owns 160,567,323 shares of the company’s stock worth $616,579,000 after purchasing an additional 17,818,179 shares during the period. SG Americas Securities LLC lifted its stake in shares of Aurora Innovation by 6,824.0% in the 4th quarter. SG Americas Securities LLC now owns 9,645,035 shares of the company’s stock valued at $37,037,000 after purchasing an additional 9,505,736 shares in the last quarter. Norges Bank acquired a new stake in Aurora Innovation during the 4th quarter worth approximately $32,055,000. Finally, Squarepoint Ops LLC raised its holdings in Aurora Innovation by 3,256.1% in the second quarter. Squarepoint Ops LLC now owns 6,753,259 shares of the company’s stock valued at $35,387,000 after buying an additional 6,552,034 shares during the period. Institutional investors and hedge funds own 44.71% of the company’s stock.

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.