Aurora Innovation, Inc. (NASDAQ:AUR) Receives $11.50 Consensus Target Price from Brokerages

Aurora Innovation, Inc. (NASDAQ:AUR) has been given a consensus recommendation of “Hold” by the nine research firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $11.50.

AUR has been the subject of several analyst reports. 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. 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. TD Cowen increased their price objective on Aurora Innovation from $4.70 to $7.00 and gave the company a “hold” rating in a report on Thursday, May 7th. Needham & Company LLC reiterated a “buy” rating and set a $13.00 price objective on shares of Aurora Innovation in a report on Thursday, May 7th. Finally, Wall Street Zen lowered Aurora Innovation from a “hold” rating to a “sell” rating in a report on Sunday, April 26th.

Aurora Innovation Stock Performance

Shares of NASDAQ AUR opened at $7.07 on Tuesday. The stock has a market capitalization of $13.87 billion, a PE ratio of -16.07 and a beta of 2.58. The stock’s fifty day simple moving average is $5.36 and its two-hundred day simple moving average is $4.70. Aurora Innovation has a 12-month low of $3.60 and a 12-month high of $8.56.

Aurora Innovation (NASDAQ:AUR) last announced its earnings results on Wednesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.01. The business had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $0.97 million. Aurora Innovation had a negative return on equity of 40.45% and a negative net margin of 20,775.00%.The business’s revenue for the quarter was down 66.7% compared to the same quarter last year. On average, equities analysts predict that Aurora Innovation will post -0.46 earnings per share for the current fiscal year.

Insider Activity at Aurora Innovation

In other news, Director Reid Hoffman sold 347,646 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $7.51, for a total transaction of $2,610,821.46. Following the completion of the sale, the director owned 60,118 shares in the company, valued at approximately $451,486.18. This represents a 85.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.52% of the company’s stock.

Institutional Trading of Aurora Innovation

Several hedge funds and other institutional investors have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Aurora Innovation by 6.6% during the 4th 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 purchasing an additional 16,933,373 shares during the last quarter. Vanguard Group Inc. raised its stake in Aurora Innovation by 12.5% in the 4th 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 last quarter. Capital Research Global Investors raised its stake in Aurora Innovation by 35.9% in the 3rd quarter. Capital Research Global Investors now owns 71,298,585 shares of the company’s stock worth $384,299,000 after acquiring an additional 18,820,542 shares during the last quarter. Bank of America Corp DE raised its stake in 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 worth $123,749,000 after acquiring an additional 16,975,927 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Aurora Innovation by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 21,488,433 shares of the company’s stock worth $82,535,000 after acquiring an additional 1,498,515 shares during the last quarter. Hedge funds and other institutional investors own 44.71% 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.