Royal Bank of Canada Has $2.24 Million Stock Holdings in Aurora Innovation, Inc. $AUR

Royal Bank of Canada cut its position in Aurora Innovation, Inc. (NASDAQ:AUR) by 14.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 544,308 shares of the company’s stock after selling 88,762 shares during the quarter. Royal Bank of Canada’s holdings in Aurora Innovation were worth $2,243,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Garton & Associates Financial Advisors LLC acquired a new position in Aurora Innovation during the 4th quarter worth approximately $35,000. Danske Bank A S acquired a new stake in Aurora Innovation in the third quarter valued at approximately $36,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Aurora Innovation during the fourth quarter valued at approximately $39,000. Stonebridge Financial Group LLC MO bought a new stake in shares of Aurora Innovation during the fourth quarter valued at approximately $40,000. Finally, Equitable Holdings Inc. acquired a new position in shares of Aurora Innovation during the fourth quarter worth approximately $41,000. 44.71% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Reid Hoffman sold 1,202,354 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $7.27, for a total value of $8,741,113.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David M. Wehner purchased 82,500 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average cost of $6.04 per share, for a total transaction of $498,300.00. Following the completion of the transaction, the director directly owned 246,519 shares of the company’s stock, valued at $1,488,974.76. This represents a 50.30% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 4,750,425 shares of company stock worth $33,668,718 over the last quarter. Insiders own 8.52% of the company’s stock.

Aurora Innovation Stock Down 0.3%

AUR stock opened at $6.97 on Tuesday. Aurora Innovation, Inc. has a twelve month low of $3.60 and a twelve month high of $8.56. The stock’s 50 day moving average is $6.43 and its 200-day moving average is $5.65. The firm has a market capitalization of $13.97 billion, a PE ratio of -14.83 and a beta of 2.64.

Aurora Innovation (NASDAQ:AUR) last released its quarterly earnings results on Wednesday, July 29th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). Aurora Innovation had a negative net margin of 18,000.00% and a negative return on equity of 43.94%. The company had revenue of $2.00 million during the quarter, compared to analysts’ expectations of $1.66 million. During the same period in the previous year, the company posted ($0.11) earnings per share. The company’s quarterly revenue was up 100.0% compared to the same quarter last year. On average, equities research analysts anticipate that Aurora Innovation, Inc. will post -0.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AUR has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 target price on shares of Aurora Innovation in a report on Thursday, May 7th. Cantor Fitzgerald restated an “overweight” rating and set a $12.00 price target on shares of Aurora Innovation in a research note on Thursday, July 23rd. Northland Securities started coverage on shares of Aurora Innovation in a report on Friday, May 29th. They set an “outperform” rating and a $11.00 price objective on the stock. Craig Hallum began coverage on shares of Aurora Innovation in a research note on Friday, June 5th. They issued a “buy” rating and a $18.00 price objective on the stock. Finally, Morgan Stanley reiterated an “overweight” rating and set a $14.00 price objective on shares of Aurora Innovation in a report on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $12.22.

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.