Aurora Innovation, Inc. $AUR Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in Aurora Innovation, Inc. (NASDAQ:AUR) by 7.5% during the fourth quarter, HoldingsChannel reports. The fund owned 21,488,433 shares of the company’s stock after buying an additional 1,498,515 shares during the period. Geode Capital Management LLC’s holdings in Aurora Innovation were worth $82,535,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in AUR. Royal Bank of Canada lifted its holdings in Aurora Innovation by 35.7% in the first 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 last quarter. AQR Capital Management LLC lifted 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 valued at $1,118,000 after acquiring an additional 14,220 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted 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 valued at $13,764,000 after acquiring an additional 127,953 shares during the last quarter. Envestnet Asset Management Inc. lifted 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 valued at $172,000 after acquiring an additional 2,774 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in Aurora Innovation by 66.5% in the second quarter. Cetera Investment Advisers now owns 112,351 shares of the company’s stock valued at $589,000 after acquiring an additional 44,867 shares during the last quarter. 44.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AUR has been the topic of a number of recent analyst reports. Northland Securities initiated coverage on Aurora Innovation in a report on Friday, May 29th. They issued an “outperform” rating and a $11.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Aurora Innovation in a report on Monday, February 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Aurora Innovation in a research note on Monday, April 20th. Morgan Stanley restated an “overweight” rating and set a $14.00 price target on shares of Aurora Innovation in a research note on Thursday, May 7th. Finally, Wall Street Zen cut Aurora Innovation from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.25.

Aurora Innovation Price Performance

NASDAQ:AUR opened at $6.31 on Monday. The stock’s fifty day moving average is $5.87 and its two-hundred day moving average is $4.88. Aurora Innovation, Inc. has a 52 week low of $3.60 and a 52 week high of $8.56. The stock has a market capitalization of $12.38 billion, a price-to-earnings ratio of -14.34 and a beta of 2.62.

Aurora Innovation (NASDAQ:AUR) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.11) EPS for the quarter, topping 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 company had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $0.97 million. The firm’s revenue for the quarter 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 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Reid Hoffman sold 5,498,487 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $7.81, for a total value of $42,943,183.47. Following the sale, the director directly owned 77,500 shares in the company, valued at approximately $605,275. This trade represents a 98.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 7,048,487 shares of company stock worth $54,295,119 in the last 90 days. 8.52% of the stock is owned by corporate insiders.

Aurora Innovation 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.