Insider Selling: Aurora Innovation (NASDAQ:AUR) Director Sells 347,646 Shares of Stock

Aurora Innovation, Inc. (NASDAQ:AUR) Director Reid Hoffman sold 347,646 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $7.51, for a total value of $2,610,821.46. Following the transaction, the director owned 60,118 shares of the company’s stock, valued at $451,486.18. This represents a 85.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, May 15th, Reid Hoffman sold 5,498,487 shares of Aurora Innovation stock. The shares were sold at an average price of $7.81, for a total value of $42,943,183.47.

Aurora Innovation Stock Down 6.5%

AUR stock traded down $0.48 during trading on Tuesday, reaching $6.94. 31,062,828 shares of the company’s stock were exchanged, compared to its average volume of 31,658,058. Aurora Innovation, Inc. has a 1-year low of $3.60 and a 1-year high of $8.56. The company’s fifty day moving average price is $5.14 and its 200-day moving average price is $4.64. The firm has a market cap of $13.61 billion, a PE ratio of -15.77 and a beta of 2.58.

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, topping analysts’ consensus estimates 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 company had revenue of $1.00 million during the quarter, compared to analyst estimates of $0.97 million. The company’s revenue for the quarter was down 66.7% compared to the same quarter last year. As a group, sell-side analysts expect that Aurora Innovation, Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional Trading of Aurora Innovation

A number of institutional investors have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. lifted its stake 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 valued at $1,055,269,000 after acquiring an additional 16,933,373 shares during the last quarter. Vanguard Group Inc. raised its stake 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 valued at $616,579,000 after acquiring an additional 17,818,179 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Aurora Innovation by 35.9% in the 3rd quarter. Capital Research Global Investors now owns 71,298,585 shares of the company’s stock valued at $384,299,000 after acquiring an additional 18,820,542 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Aurora Innovation by 130.0% in the 1st quarter. Bank of America Corp DE now owns 30,036,169 shares of the company’s stock valued at $123,749,000 after acquiring an additional 16,975,927 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Aurora Innovation by 7.5% during the fourth quarter. Geode Capital Management LLC now owns 21,488,433 shares of the company’s stock worth $82,535,000 after buying an additional 1,498,515 shares during the last quarter. 44.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wall Street Zen lowered Aurora Innovation from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 target price on shares of Aurora Innovation in a report on Thursday, May 7th. TD Cowen upped their target price on Aurora Innovation from $4.70 to $7.00 and gave the company a “hold” rating in a report on Thursday, May 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Aurora Innovation in a report on Monday, February 9th. Finally, The Goldman Sachs Group upped their target price on Aurora Innovation from $4.00 to $5.00 and gave the company a “neutral” rating in a report on Friday, April 17th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $11.50.

About Aurora Innovation

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.