Sumitomo Mitsui Trust Group Inc. Sells 158,786 Shares of Aurora Innovation, Inc. $AUR

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Aurora Innovation, Inc. (NASDAQ:AUR) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,280,359 shares of the company’s stock after selling 158,786 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Aurora Innovation were worth $25,875,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Aurora Innovation by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 160,567,323 shares of the company’s stock valued at $616,579,000 after purchasing an additional 17,818,179 shares in the last quarter. DNB Asset Management AS raised its position in shares of Aurora Innovation by 93.0% in the fourth quarter. DNB Asset Management AS now owns 1,037,510 shares of the company’s stock worth $3,984,000 after buying an additional 499,935 shares in the last quarter. Clare Market Investments LLC purchased a new stake in shares of Aurora Innovation in the first quarter worth $2,697,000. T. Rowe Price Investment Management Inc. boosted its stake in 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 valued at $1,055,269,000 after buying an additional 16,933,373 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Aurora Innovation by 6,824.0% during the fourth quarter. SG Americas Securities LLC now owns 9,645,035 shares of the company’s stock valued at $37,037,000 after buying an additional 9,505,736 shares during the period. Institutional investors own 44.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. TD Cowen upped their target price on Aurora Innovation from $4.70 to $7.00 and gave the stock a “hold” rating in a research note on Thursday, May 7th. Morgan Stanley reiterated an “overweight” rating and set a $14.00 price target on shares of Aurora Innovation in a research report on Thursday, May 7th. Wall Street Zen lowered Aurora Innovation from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Aurora Innovation in a report on Monday, April 20th. Finally, Craig Hallum assumed 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 on the stock. Seven 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $12.25.

Insider Activity

In other news, Director Reid Hoffman sold 1,202,354 shares of Aurora Innovation stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $7.27, for a total value of $8,741,113.58. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director David M. Wehner bought 82,500 shares of the stock in a transaction dated Thursday, June 11th. The stock was bought at an average cost of $6.04 per share, with a total value of $498,300.00. Following the purchase, the director owned 246,519 shares in the company, valued at $1,488,974.76. The trade was a 50.30% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have sold 7,048,487 shares of company stock valued at $54,295,119. Company insiders own 8.52% of the company’s stock.

Aurora Innovation Stock Performance

AUR stock opened at $6.05 on Tuesday. The company has a market capitalization of $11.87 billion, a PE ratio of -13.75 and a beta of 2.63. Aurora Innovation, Inc. has a one year low of $3.60 and a one year high of $8.56. The company’s 50 day moving average price is $6.77 and its two-hundred day moving average price is $5.28.

Aurora Innovation (NASDAQ:AUR) last released its 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. The company had revenue of $1.00 million for the quarter, compared to analyst estimates 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 business’s quarterly revenue was down 66.7% on a year-over-year basis. On average, research analysts predict that Aurora Innovation, Inc. will post -0.47 EPS for the current year.

Aurora Innovation 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.