Brokerages Set Aurora Innovation, Inc. (NASDAQ:AUR) Price Target at $12.25

Shares of Aurora Innovation, Inc. (NASDAQ:AUR) have been assigned an average rating of “Hold” from the eleven brokerages that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $12.25.

A number of research analysts recently issued reports on AUR shares. Wall Street Zen cut shares of Aurora Innovation from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. 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 objective on the stock. 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 research note on Thursday, May 7th. Morgan Stanley reissued an “overweight” rating and issued a $14.00 price objective on shares of Aurora Innovation in a research note on Thursday, May 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $13.00 price objective on shares of Aurora Innovation in a research note on Thursday, May 7th.

Aurora Innovation Stock Performance

NASDAQ AUR opened at $6.28 on Friday. Aurora Innovation has a 1-year low of $3.60 and a 1-year high of $8.56. The company has a 50 day moving average of $6.28 and a 200-day moving average of $5.03. The company has a market cap of $12.32 billion, a price-to-earnings ratio of -14.27 and a beta of 2.62.

Aurora Innovation (NASDAQ:AUR) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $0.97 million. Aurora Innovation had a negative net margin of 20,775.00% and a negative return on equity of 40.45%. The firm’s revenue was down 66.7% on a year-over-year basis. On average, equities research analysts forecast that Aurora Innovation will post -0.47 earnings per share for the current year.

Insider Buying and Selling

In other news, Director David M. Wehner acquired 82,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average cost of $6.04 per share, with a total value of $498,300.00. Following the completion of the purchase, the director directly 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Reid Hoffman sold 5,498,487 shares of Aurora Innovation stock in a transaction that occurred on Friday, May 15th. The shares were 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 directly owned 77,500 shares in the company, valued at $605,275. This trade represents a 98.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 7,048,487 shares of company stock worth $54,295,119 over the last three months. 8.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. grew its stake in shares of Aurora Innovation by 6.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 274,809,541 shares of the company’s stock worth $1,055,269,000 after buying an additional 16,933,373 shares during the last quarter. Vanguard Group Inc. grew its stake 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 buying an additional 17,818,179 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Aurora Innovation by 35.9% during the third quarter. Capital Research Global Investors now owns 71,298,585 shares of the company’s stock worth $384,299,000 after buying an additional 18,820,542 shares during the last quarter. Bank of America Corp DE grew its stake in shares of 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 buying an additional 16,975,927 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Aurora Innovation by 7.5% during the fourth quarter. Geode Capital Management LLC now owns 21,488,433 shares of the company’s stock worth $82,535,000 after buying an additional 1,498,515 shares during 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.