Aurora Innovation (NASDAQ:AUR) Director Michelangelo Volpi Sells 1,854,322 Shares of Stock

Aurora Innovation, Inc. (NASDAQ:AUR) Director Michelangelo Volpi sold 1,854,322 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $7.05, for a total value of $13,072,970.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Michelangelo Volpi also recently made the following trade(s):

• On Monday, August 10th, Michelangelo Volpi sold 34,701 shares of Aurora Innovation stock. The shares were sold at an average price of $7.00, for a total value of $242,907.00.
• On Wednesday, August 5th, Michelangelo Volpi sold 179,782 shares of Aurora Innovation stock. The shares were sold at an average price of $7.07, for a total value of $1,271,058.74.

Aurora Innovation Stock Down 0.4%

NASDAQ:AUR opened at $6.95 on Wednesday. The firm has a market capitalization of $13.93 billion, a P/E ratio of -14.79 and a beta of 2.64. The company has a fifty day moving average of $6.40 and a 200 day moving average of $5.58. Aurora Innovation, Inc. has a 52 week low of $3.60 and a 52 week high of $8.56.

Aurora Innovation (NASDAQ:AUR) last posted its earnings results on Wednesday, July 29th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). Aurora Innovation had a negative return on equity of 43.94% and a negative net margin of 18,000.00%.The firm had revenue of $2.00 million for the quarter, compared to analysts’ expectations of $1.66 million. During the same quarter in the prior year, the company posted ($0.11) earnings per share. The business’s revenue for the quarter was up 100.0% on a year-over-year basis. As a group, analysts anticipate that Aurora Innovation, Inc. will post -0.48 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Craig Hallum began coverage on shares of Aurora Innovation in a research note on Friday, June 5th. They set a “buy” rating and a $18.00 price objective for the company. Northland Securities initiated coverage on Aurora Innovation in a research report on Friday, May 29th. They set an “outperform” rating and a $11.00 price objective for the company. TD Cowen increased their target price on Aurora Innovation from $4.70 to $7.00 and gave the company a “hold” rating in a report on Thursday, May 7th. Wall Street Zen cut Aurora Innovation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Finally, Needham & Company LLC restated a “buy” rating and set a $13.00 price target on shares of Aurora Innovation in a research note on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $12.22.

Hedge Funds Weigh In On Aurora Innovation

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Aurora Innovation by 12.5% during the fourth quarter. Vanguard Group Inc. now owns 160,567,323 shares of the company’s stock worth $616,579,000 after purchasing an additional 17,818,179 shares in the last quarter. DNB Asset Management AS lifted its holdings in Aurora Innovation by 93.0% in the 4th quarter. DNB Asset Management AS now owns 1,037,510 shares of the company’s stock worth $3,984,000 after purchasing an additional 499,935 shares in the last quarter. Clare Market Investments LLC bought a new position in Aurora Innovation in the 1st quarter worth approximately $2,697,000. T. Rowe Price Investment Management Inc. grew its holdings in 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 buying an additional 16,933,373 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Aurora Innovation by 130.0% during the 1st quarter. Bank of America Corp DE now owns 30,036,169 shares of the company’s stock valued at $123,749,000 after buying an additional 16,975,927 shares in the last quarter. 44.71% of the stock is owned by institutional investors.

About Aurora Innovation

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.