Sumitomo Mitsui Trust Group Inc. Cuts Stock Position in Aurora Innovation, Inc. $AUR

Sumitomo Mitsui Trust Group Inc. lessened its holdings in Aurora Innovation, Inc. (NASDAQ:AUR) by 2.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,280,359 shares of the company’s stock after selling 158,786 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.32% of Aurora Innovation worth $25,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in AUR. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Aurora Innovation by 6.6% in the 4th 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 last quarter. Vanguard Group Inc. raised its position 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 period. Geode Capital Management LLC boosted its stake 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 valued at $82,535,000 after acquiring an additional 1,498,515 shares during the last quarter. State Street Corp boosted its stake in Aurora Innovation by 8.1% in the fourth quarter. State Street Corp now owns 20,544,319 shares of the company’s stock valued at $78,890,000 after acquiring an additional 1,533,171 shares during the last quarter. Finally, Durable Capital Partners LP grew its position in shares of Aurora Innovation by 36.7% during the 2nd quarter. Durable Capital Partners LP now owns 20,404,238 shares of the company’s stock valued at $106,918,000 after acquiring an additional 5,481,969 shares during the period. 44.71% of the stock is owned by hedge funds and other institutional investors.

Aurora Innovation Stock Down 5.2%

AUR opened at $6.05 on Tuesday. The company has a market capitalization of $11.87 billion, a price-to-earnings ratio of -13.75 and a beta of 2.63. The firm has a 50-day moving average price of $6.77 and a 200-day moving average price of $5.28. Aurora Innovation, Inc. has a twelve month low of $3.60 and a twelve month high of $8.56.

Aurora Innovation (NASDAQ:AUR) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. The company had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $0.97 million. Aurora Innovation had a negative net margin of 20,775.00% and a negative return on equity of 40.45%. The firm’s revenue was down 66.7% compared to the same quarter last year. On average, sell-side analysts expect that Aurora Innovation, Inc. will post -0.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AUR has been the subject of several research analyst reports. Wall Street Zen lowered shares of Aurora Innovation from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price objective on shares of Aurora Innovation in a research note on Thursday, May 7th. The Goldman Sachs Group increased their price objective on Aurora Innovation from $4.00 to $5.00 and gave the company a “neutral” rating in a report on Friday, April 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Aurora Innovation in a research report on Monday, April 20th. Finally, TD Cowen boosted 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. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.25.

Insiders Place Their Bets

In other Aurora Innovation news, Director Reid Hoffman sold 1,202,354 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $7.27, for a total transaction of $8,741,113.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David M. Wehner purchased 82,500 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was bought 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 directly owned 246,519 shares of the company’s stock, valued at approximately $1,488,974.76. This trade represents a 50.30% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 7,048,487 shares of company stock worth $54,295,119 in the last three months. Insiders own 8.52% 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.