T. Rowe Price Investment Management Inc. Increases Position in Aurora Innovation, Inc. $AUR

T. Rowe Price Investment Management Inc. increased its position in Aurora Innovation, Inc. (NASDAQ:AUR) by 6.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 274,809,541 shares of the company’s stock after buying an additional 16,933,373 shares during the period. T. Rowe Price Investment Management Inc. owned about 0.14% of Aurora Innovation worth $1,055,269,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of AUR. Capital Research Global Investors raised its holdings in Aurora Innovation by 35.9% during the third quarter. Capital Research Global Investors now owns 71,298,585 shares of the company’s stock valued at $384,299,000 after acquiring an additional 18,820,542 shares during the period. Vanguard Group Inc. lifted its position in shares of Aurora Innovation by 12.5% in the fourth quarter. Vanguard Group Inc. now owns 160,567,323 shares of the company’s stock valued at $616,579,000 after acquiring an additional 17,818,179 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Aurora Innovation by 6,824.0% in the fourth quarter. SG Americas Securities LLC now owns 9,645,035 shares of the company’s stock worth $37,037,000 after acquiring an additional 9,505,736 shares during the period. SC US Ttgp LTD. purchased a new stake in shares of Aurora Innovation during the fourth quarter worth about $33,830,000. Finally, Norges Bank purchased a new stake in shares of Aurora Innovation during the fourth quarter worth about $32,055,000. Hedge funds and other institutional investors own 44.71% of the company’s stock.

Insider Activity

In related news, Director David M. Wehner acquired 82,500 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were acquired 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 in the company, valued at approximately $1,488,974.76. This trade represents a 50.30% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Reid Hoffman sold 5,498,487 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $7.81, for a total value of $42,943,183.47. Following the completion of the sale, the director directly owned 77,500 shares of the company’s stock, valued at $605,275. The trade was a 98.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 7,048,487 shares of company stock valued at $54,295,119. 8.52% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on AUR. Craig Hallum initiated coverage on Aurora Innovation in a report on Friday, June 5th. They issued a “buy” rating and a $18.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $14.00 price objective on shares of Aurora Innovation in a report on Thursday, May 7th. Northland Securities initiated coverage on shares of Aurora Innovation in a research report on Friday, May 29th. They set an “outperform” rating and a $11.00 price objective on the stock. TD Cowen boosted their target price on shares of Aurora Innovation from $4.70 to $7.00 and gave the stock a “hold” rating in a report on Thursday, May 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Aurora Innovation in a research report on Monday, April 20th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.25.

Aurora Innovation Stock Up 3.8%

Shares of NASDAQ:AUR opened at $6.28 on Friday. The firm has a fifty day simple moving average of $6.24 and a two-hundred day simple moving average of $5.02. 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 $12.32 billion, a P/E ratio of -14.27 and a beta of 2.62.

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 firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $0.97 million. Aurora Innovation had a negative net margin of 20,775.00% and a negative return on equity of 40.45%. Aurora Innovation’s quarterly revenue was down 66.7% compared to the same quarter last year. On average, analysts expect that Aurora Innovation, Inc. will post -0.47 earnings per share for the current year.

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.