Uber Technologies Inc Purchases New Holdings in Aurora Innovation, Inc. (NASDAQ:AUR)

Uber Technologies Inc purchased a new position in shares of Aurora Innovation, Inc. (NASDAQ:AUR) during the fourth quarter, HoldingsChannel reports. The firm purchased 325,973,411 shares of the company’s stock, valued at approximately $2,053,632,000. Aurora Innovation comprises 42.2% of Uber Technologies Inc’s portfolio, making the stock its 2nd biggest position. Uber Technologies Inc owned about 0.19% of Aurora Innovation as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of AUR. JPMorgan Chase & Co. grew its holdings in Aurora Innovation by 40.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,380,479 shares of the company’s stock valued at $8,172,000 after buying an additional 394,933 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Aurora Innovation by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 113,020,406 shares of the company’s stock worth $712,029,000 after buying an additional 2,687,191 shares in the last quarter. Swiss National Bank boosted its stake in shares of Aurora Innovation by 22.3% during the 4th quarter. Swiss National Bank now owns 1,839,400 shares of the company’s stock valued at $11,588,000 after buying an additional 335,000 shares during the last quarter. ARK Investment Management LLC raised its stake in shares of Aurora Innovation by 14.9% in the 4th quarter. ARK Investment Management LLC now owns 2,412,353 shares of the company’s stock valued at $15,198,000 after purchasing an additional 312,144 shares in the last quarter. Finally, Archon Partners LLC acquired a new position in shares of Aurora Innovation in the 4th quarter worth approximately $378,000. 44.71% of the stock is owned by hedge funds and other institutional investors.

Aurora Innovation Stock Up 0.7 %

AUR stock opened at $7.31 on Wednesday. The company has a market capitalization of $12.72 billion, a price-to-earnings ratio of -15.55 and a beta of 2.77. The firm has a 50 day moving average of $6.70 and a two-hundred day moving average of $6.75. Aurora Innovation, Inc. has a 12 month low of $2.10 and a 12 month high of $10.77.

Aurora Innovation (NASDAQ:AUR) last posted its earnings results on Wednesday, February 12th. The company reported ($0.11) earnings per share for the quarter. On average, research analysts expect that Aurora Innovation, Inc. will post -0.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on AUR. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of Aurora Innovation in a research note on Thursday, February 13th. Morgan Stanley began coverage on shares of Aurora Innovation in a report on Monday, March 3rd. They issued an “overweight” rating and a $12.00 price objective for the company. Evercore ISI lifted their target price on Aurora Innovation from $5.00 to $6.00 and gave the stock an “in-line” rating in a report on Tuesday, February 18th. TD Cowen started coverage on Aurora Innovation in a report on Friday, March 7th. They set a “hold” rating and a $8.00 price objective on the stock. Finally, Canaccord Genuity Group raised their target price on Aurora Innovation from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.63.

Aurora Innovation Company Profile

Aurora Innovation, Inc operates as a self-driving technology company in the United States. It focuses on developing Aurora Driver, a platform that brings a suite of self-driving hardware, software, and data services together to adapt and interoperate vehicles. The company was founded in 2017 and is headquartered in Pittsburgh, Pennsylvania.