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

Shares of Aurora Innovation, Inc. (NASDAQ:AUR) have been given a consensus recommendation of “Hold” by the eleven analysts that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $12.25.

Several equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Aurora Innovation from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Morgan Stanley reiterated an “overweight” rating and issued a $14.00 target price on shares of Aurora Innovation in a report on Thursday, May 7th. Craig Hallum began 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Aurora Innovation in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group lifted their price objective on shares of Aurora Innovation from $4.00 to $5.00 and gave the company a “neutral” rating in a report on Friday, April 17th.

Aurora Innovation Trading Up 1.3%

NASDAQ:AUR opened at $6.13 on Wednesday. Aurora Innovation has a 1-year low of $3.60 and a 1-year high of $8.56. The stock has a market cap of $12.02 billion, a P/E ratio of -13.93 and a beta of 2.63. The stock has a 50 day simple moving average of $6.76 and a 200 day simple moving average of $5.29.

Aurora Innovation (NASDAQ:AUR) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.11) earnings per share 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 business had revenue of $1.00 million for the quarter, compared to analyst estimates of $0.97 million. The firm’s revenue for the quarter was down 66.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Aurora Innovation will post -0.47 EPS for the current year.

Insider Activity

In other news, Director David M. Wehner purchased 82,500 shares of the stock in a transaction dated Thursday, June 11th. The shares were purchased at an average cost of $6.04 per share, with a total value of $498,300.00. Following the completion of the acquisition, the director owned 246,519 shares in the company, valued at $1,488,974.76. This represents a 50.30% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Reid Hoffman sold 1,202,354 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $7.27, for a total value of $8,741,113.58. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 7,048,487 shares of company stock worth $54,295,119. Insiders own 8.52% of the company’s stock.

Institutional Investors Weigh In On Aurora Innovation

Institutional investors have recently made changes to their positions in the business. Capital Research Global Investors grew its position in Aurora Innovation by 35.9% during the 3rd 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. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 17,818,179 shares during the last quarter. Bank of America Corp DE increased its stake in shares of 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 buying an additional 16,975,927 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of 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 buying an additional 16,933,373 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in 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 valued at $46,319,000 after buying an additional 10,724,682 shares during the last quarter. Hedge funds and other institutional investors 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.