Insider Selling: Aurora Innovation (NASDAQ:AUR) Director Sells $2,610,821.46 in Stock

Aurora Innovation, Inc. (NASDAQ:AUR) Director Reid Hoffman sold 347,646 shares of the business’s stock in a transaction dated 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 sale, the director owned 60,118 shares in the company, valued at $451,486.18. This trade represents a 85.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Reid Hoffman also recently made the following trade(s):

• On Friday, May 15th, Reid Hoffman sold 5,498,487 shares of Aurora Innovation stock. The shares were sold at an average price of $7.81, for a total transaction of $42,943,183.47.

Aurora Innovation Stock Up 0.7%

Shares of AUR stock opened at $7.17 on Friday. 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 $14.06 billion, a PE ratio of -16.30 and a beta of 2.58. The firm has a 50 day moving average of $5.25 and a two-hundred day moving average of $4.66.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AUR shares. Morgan Stanley restated an “overweight” rating and set a $14.00 price target on shares of Aurora Innovation in a report on Thursday, May 7th. TD Cowen upped their price target on Aurora Innovation from $4.70 to $7.00 and gave the stock a “hold” rating in a report on Thursday, May 7th. Wall Street Zen downgraded shares of Aurora Innovation from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aurora Innovation in a research note on Monday, April 20th. Finally, The Goldman Sachs Group lifted their price target on shares of Aurora Innovation from $4.00 to $5.00 and gave the stock a “neutral” rating in a research note on Friday, April 17th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $11.50.

Hedge Funds Weigh In On Aurora Innovation

Several large investors have recently bought and sold shares of the business. Western Wealth Management LLC increased its holdings in Aurora Innovation by 24.2% in the first quarter. Western Wealth Management LLC now owns 60,579 shares of the company’s stock valued at $250,000 after buying an additional 11,822 shares during the last quarter. Bank of America Corp DE lifted its stake in Aurora Innovation by 130.0% during the first quarter. Bank of America Corp DE now owns 30,036,169 shares of the company’s stock worth $123,749,000 after purchasing an additional 16,975,927 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Aurora Innovation by 2,068.8% during the first quarter. Janus Henderson Group PLC now owns 11,243,080 shares of the company’s stock worth $46,319,000 after purchasing an additional 10,724,682 shares during the last quarter. Amundi lifted its stake in Aurora Innovation by 46.4% during the first quarter. Amundi now owns 3,661,728 shares of the company’s stock worth $15,086,000 after purchasing an additional 1,160,872 shares during the last quarter. Finally, California State Teachers Retirement System lifted its stake in Aurora Innovation by 24.6% during the first quarter. California State Teachers Retirement System now owns 1,338,768 shares of the company’s stock worth $5,516,000 after purchasing an additional 263,978 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.