AXQ Capital LP Invests $344,000 in Aurora Innovation, Inc. $AUR

AXQ Capital LP purchased a new stake in Aurora Innovation, Inc. (NASDAQ:AUR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 89,497 shares of the company’s stock, valued at approximately $344,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Danske Bank A S acquired a new position in shares of Aurora Innovation in the third quarter worth approximately $36,000. Fifth Third Bancorp raised its stake in Aurora Innovation by 101.4% during the third quarter. Fifth Third Bancorp now owns 9,930 shares of the company’s stock worth $54,000 after buying an additional 5,000 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new position in Aurora Innovation during the fourth quarter worth $39,000. Integrated Advisors Network LLC bought a new position in Aurora Innovation during the third quarter worth $54,000. Finally, Kestra Private Wealth Services LLC bought a new position in Aurora Innovation during the third quarter worth $55,000. 44.71% of the stock is owned by institutional investors and hedge funds.

Aurora Innovation Stock Down 1.6%

NASDAQ AUR opened at $6.84 on Friday. The company’s 50 day moving average is $5.83 and its 200-day moving average is $4.86. Aurora Innovation, Inc. has a 12-month low of $3.60 and a 12-month high of $8.56. The firm has a market cap of $13.41 billion, a P/E ratio of -15.55 and a beta of 2.62.

Aurora Innovation (NASDAQ:AUR) last posted its quarterly 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. 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 for the quarter, compared to analyst estimates of $0.97 million. The company’s revenue for the quarter was down 66.7% on a year-over-year basis. Equities analysts expect that Aurora Innovation, Inc. will post -0.47 EPS for the current year.

Insiders Place Their Bets

In related news, Director Reid Hoffman sold 1,202,354 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $7.27, for a total transaction of $8,741,113.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 7,048,487 shares of company stock worth $54,295,119. Corporate insiders own 8.52% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AUR shares. Northland Securities started coverage on shares of Aurora Innovation in a research note on Friday, May 29th. They issued an “outperform” rating and a $11.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Aurora Innovation in a report on Monday, February 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aurora Innovation in a report on Monday, April 20th. TD Cowen lifted their price objective on shares of Aurora Innovation from $4.70 to $7.00 and gave the company a “hold” rating in a report on Thursday, May 7th. Finally, The Goldman Sachs Group boosted their price target on shares of Aurora Innovation from $4.00 to $5.00 and gave the stock a “neutral” rating in a report on Friday, April 17th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $11.43.

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.