Aurora Innovation’s (AUR) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Aurora Innovation (NASDAQ:AUR) in a research report sent to investors on Thursday,Benzinga reports. The firm currently has a $12.00 price target on the stock.

Several other equities analysts have also recently issued reports on AUR. 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. 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 target price on the stock. The Goldman Sachs Group boosted their price target on shares of Aurora Innovation from $4.00 to $5.00 and gave the company a “neutral” rating in a research report on Friday, April 17th. Northland Securities began coverage on shares of Aurora Innovation in a research note on Friday, May 29th. They issued an “outperform” rating and a $11.00 price target for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $13.00 price target on shares of Aurora Innovation in a research note on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $12.22.

Aurora Innovation Price Performance

NASDAQ AUR opened at $5.95 on Thursday. Aurora Innovation has a 1 year low of $3.60 and a 1 year high of $8.56. The stock has a market capitalization of $11.67 billion, a PE ratio of -13.52 and a beta of 2.63. The business’s 50-day moving average is $6.53 and its 200 day moving average is $5.40.

Aurora Innovation (NASDAQ:AUR) last released 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. 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 during the quarter, compared to analyst estimates of $0.97 million. The business’s revenue was down 66.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Aurora Innovation will post -0.47 earnings per share for the current year.

Insider Buying and Selling at Aurora Innovation

In other Aurora Innovation news, Director Reid Hoffman sold 1,202,354 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $7.27, for a total transaction of $8,741,113.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David M. Wehner acquired 82,500 shares of the stock in a transaction on 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 transaction, 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 position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders sold 7,048,487 shares of company stock worth $54,295,119. 8.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AUR. Royal Bank of Canada lifted its position in Aurora Innovation by 35.7% during the 1st quarter. Royal Bank of Canada now owns 227,475 shares of the company’s stock valued at $1,530,000 after acquiring an additional 59,801 shares during the period. AQR Capital Management LLC grew its holdings in Aurora Innovation by 9.4% in the first quarter. AQR Capital Management LLC now owns 166,257 shares of the company’s stock worth $1,118,000 after purchasing an additional 14,220 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Aurora Innovation by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,046,760 shares of the company’s stock worth $13,764,000 after purchasing an additional 127,953 shares during the period. Envestnet Asset Management Inc. grew its holdings in Aurora Innovation by 9.2% in the second quarter. Envestnet Asset Management Inc. now owns 32,868 shares of the company’s stock worth $172,000 after purchasing an additional 2,774 shares during the period. Finally, Cetera Investment Advisers increased its stake in shares of Aurora Innovation by 66.5% during the second quarter. Cetera Investment Advisers now owns 112,351 shares of the company’s stock valued at $589,000 after purchasing an additional 44,867 shares in the last quarter. 44.71% of the stock is currently owned by institutional investors.

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.