Mirae Asset Global Investments Co. Ltd. Buys 259,833 Shares of Aurora Innovation, Inc. $AUR

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Aurora Innovation, Inc. (NASDAQ:AUR) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 259,833 shares of the company’s stock, valued at approximately $1,439,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Manchester Capital Management LLC bought a new stake in shares of Aurora Innovation during the 3rd quarter worth about $42,000. Capula Management Ltd acquired a new position in shares of Aurora Innovation during the 1st quarter valued at about $43,000. Navigation Group LLC bought a new position in shares of Aurora Innovation in the 1st quarter valued at approximately $48,000. Frank Rimerman Advisors LLC bought a new position in shares of Aurora Innovation in the 1st quarter valued at approximately $50,000. Finally, Triad Investment Management bought a new position in shares of Aurora Innovation in the 1st quarter valued at approximately $51,000. Institutional investors and hedge funds own 44.71% of the company’s stock.

Insider Activity at Aurora Innovation

In other news, Director Michelangelo Volpi sold 2,842,682 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $7.00, for a total transaction of $19,898,774.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 4,356,649 shares of company stock worth $30,482,350 in the last three months. 8.52% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AUR has been the subject of several analyst reports. Northland Securities set a $10.00 target price on Aurora Innovation in a report on Thursday, October 29th. Evercore reissued an “outperform” rating on shares of Aurora Innovation in a research report on Tuesday, September 15th. Wall Street Zen cut shares of Aurora Innovation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Cantor Fitzgerald reduced their price objective on shares of Aurora Innovation from $12.00 to $11.00 and set an “overweight” rating for the company in a research note on Thursday, October 29th. Finally, The Goldman Sachs Group decreased their price objective on shares of Aurora Innovation from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, October 29th. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.56.

Aurora Innovation Stock Performance

NASDAQ AUR opened at $4.41 on Friday. Aurora Innovation, Inc. has a twelve month low of $3.60 and a twelve month high of $8.56. The stock has a market capitalization of $8.84 billion, a PE ratio of -9.19 and a beta of 2.81. The stock has a 50-day simple moving average of $5.53 and a 200 day simple moving average of $5.60.

Aurora Innovation (NASDAQ:AUR) last announced its earnings results on Wednesday, October 28th. The company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). The firm had revenue of $3.00 million during the quarter, compared to the consensus estimate of $2.99 million. Aurora Innovation had a negative return on equity of 48.39% and a negative net margin of 13,328.57%. The business’s revenue was up 200.0% on a year-over-year basis. As a group, equities research analysts forecast that Aurora Innovation, Inc. will post -0.48 EPS for the current fiscal year.

About Aurora Innovation

Aurora Innovation, Inc develops autonomous vehicle technology through its Aurora Driver platform, which combines self-driving software, sensors and computing hardware. The system is designed for use in commercial trucking and passenger mobility applications.

Founded in 2017 by Chris Urmson, Sterling Anderson and Drew Bagnell, the company is headquartered in Pittsburgh, Pennsylvania. Aurora has focused on autonomous freight transportation in the United States, including development and testing of self-driving truck operations.

Aurora works with industry partners to develop and deploy vehicles equipped with its technology.