Aurora Innovation, Inc. (NASDAQ:AUR) Receives $12.22 Average Target Price from Brokerages

Shares of Aurora Innovation, Inc. (NASDAQ:AUR) have been assigned a consensus rating of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $12.2222.

Several brokerages recently issued reports on AUR. TD Cowen lifted their target price on Aurora Innovation from $4.70 to $7.00 and gave the company a “hold” rating in a research report on Thursday, May 7th. Northland Securities started coverage on Aurora Innovation in a research note on Friday, May 29th. They issued an “outperform” rating and a $11.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $12.00 target price on shares of Aurora Innovation in a research report on Thursday, July 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $14.00 price target on shares of Aurora Innovation in a report on Thursday, May 7th. Finally, Craig Hallum started coverage on shares of Aurora Innovation in a research report on Friday, June 5th. They issued a “buy” rating and a $18.00 price objective for the company.

Aurora Innovation Stock Up 1.3%

Shares of NASDAQ AUR opened at $6.78 on Friday. The company’s fifty day simple moving average is $6.43 and its 200 day simple moving average is $5.53. The firm has a market cap of $13.30 billion, a PE ratio of -14.43 and a beta of 2.64. Aurora Innovation has a 12-month low of $3.60 and a 12-month high of $8.56.

Aurora Innovation (NASDAQ:AUR) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.66 million. During the same quarter in the previous year, the company posted ($0.11) EPS. The firm’s revenue was up 100.0% on a year-over-year basis. On average, equities analysts predict that Aurora Innovation will post -0.48 earnings per share for the current year.

Insider Transactions at Aurora Innovation

In other news, Director Reid Hoffman sold 5,498,487 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $7.81, for a total transaction of $42,943,183.47. Following the completion of the transaction, the director owned 77,500 shares of the company’s stock, valued at approximately $605,275. The trade was a 98.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David M. Wehner acquired 82,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average price of $6.04 per share, for a total transaction of $498,300.00. Following the completion of the transaction, the director owned 246,519 shares of the company’s stock, valued at $1,488,974.76. The trade was a 50.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 7,048,487 shares of company stock worth $54,295,119 over the last 90 days. Corporate insiders own 8.52% of the company’s stock.

Hedge Funds Weigh In On Aurora Innovation

A number of hedge funds and other institutional investors have recently bought and sold shares of AUR. Handelsbanken Fonder AB increased its holdings in shares of Aurora Innovation by 18.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 398,600 shares of the company’s stock worth $2,718,000 after buying an additional 60,700 shares during the last quarter. FNY Investment Advisers LLC lifted its holdings in shares of Aurora Innovation by 20.2% during the 2nd quarter. FNY Investment Advisers LLC now owns 298,497 shares of the company’s stock worth $2,035,000 after acquiring an additional 50,097 shares during the last quarter. GAMMA Investing LLC grew its position in Aurora Innovation by 79.7% in the second quarter. GAMMA Investing LLC now owns 8,501 shares of the company’s stock worth $58,000 after acquiring an additional 3,770 shares in the last quarter. Versant Capital Management Inc raised its position in Aurora Innovation by 964.9% during the second quarter. Versant Capital Management Inc now owns 8,019 shares of the company’s stock valued at $55,000 after purchasing an additional 7,266 shares in the last quarter. Finally, CX Institutional raised its position in Aurora Innovation by 4,070.6% during the second quarter. CX Institutional now owns 17,850 shares of the company’s stock valued at $122,000 after purchasing an additional 17,422 shares in the last quarter. Hedge funds and other institutional investors own 44.71% of the company’s stock.

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.