Aurora Innovation (NASDAQ:AUR) Director Reid Hoffman Sells 347,646 Shares of Stock

Aurora Innovation, Inc. (NASDAQ:AUR) Director Reid Hoffman sold 347,646 shares of Aurora Innovation stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $7.51, for a total value of $2,610,821.46. Following the transaction, the director owned 60,118 shares of the company’s stock, valued at $451,486.18. The trade was a 85.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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 value of $42,943,183.47.

Aurora Innovation Stock Performance

Shares of NASDAQ AUR opened at $6.94 on Wednesday. The company’s fifty day moving average price is $5.14 and its 200 day moving average price is $4.64. Aurora Innovation, Inc. has a 1 year low of $3.60 and a 1 year high of $8.56. The company has a market capitalization of $13.61 billion, a PE ratio of -15.77 and a beta of 2.58.

Aurora Innovation (NASDAQ:AUR) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.00 million for the quarter, compared to the consensus estimate of $0.97 million. Aurora Innovation’s revenue for the quarter was down 66.7% compared to the same quarter last year. On average, equities analysts expect that Aurora Innovation, Inc. will post -0.46 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AUR. TD Cowen increased their price target 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. Morgan Stanley reissued an “overweight” rating and set a $14.00 price target on shares of Aurora Innovation in a report on Thursday, May 7th. Needham & Company LLC reissued a “buy” rating and set a $13.00 price target on shares of Aurora Innovation 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 report on Sunday, April 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Aurora Innovation in a research report on Monday, April 20th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $11.50.

Hedge Funds Weigh In On Aurora Innovation

A number of large investors have recently added to or reduced their stakes in AUR. Royal Bank of Canada raised its position in Aurora Innovation by 35.7% during the first quarter. Royal Bank of Canada now owns 227,475 shares of the company’s stock worth $1,530,000 after acquiring an additional 59,801 shares during the period. AQR Capital Management LLC raised its position in shares of Aurora Innovation by 9.4% in the first quarter. AQR Capital Management LLC now owns 166,257 shares of the company’s stock valued at $1,118,000 after buying an additional 14,220 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Aurora Innovation by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,046,760 shares of the company’s stock valued at $13,764,000 after buying an additional 127,953 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Aurora Innovation by 9.2% in the second quarter. Envestnet Asset Management Inc. now owns 32,868 shares of the company’s stock valued at $172,000 after buying an additional 2,774 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in shares of Aurora Innovation by 66.5% in the second quarter. Cetera Investment Advisers now owns 112,351 shares of the company’s stock valued at $589,000 after buying an additional 44,867 shares during the last quarter. 44.71% of the stock is currently owned by institutional investors and hedge funds.

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.