DNB Asset Management AS Raises Stock Position in Aurora Innovation, Inc. $AUR

DNB Asset Management AS raised its stake in shares of Aurora Innovation, Inc. (NASDAQ:AUR) by 93.0% during the fourth quarter, Holdings Channel reports. The firm owned 1,037,510 shares of the company’s stock after buying an additional 499,935 shares during the quarter. DNB Asset Management AS’s holdings in Aurora Innovation were worth $3,984,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Danske Bank A S purchased a new position in Aurora Innovation during the 3rd quarter valued at $36,000. Stonebridge Financial Group LLC MO purchased a new position in Aurora Innovation during the 4th quarter valued at $40,000. Summit Financial Wealth Advisors LLC purchased a new position in Aurora Innovation during the 4th quarter valued at $46,000. Savvy Advisors Inc. purchased a new position in Aurora Innovation during the 4th quarter valued at $50,000. Finally, Fifth Third Bancorp increased its position in Aurora Innovation by 101.4% during the 3rd quarter. Fifth Third Bancorp now owns 9,930 shares of the company’s stock valued at $54,000 after purchasing an additional 5,000 shares during the period. 44.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of Aurora Innovation from $4.00 to $5.00 and gave the company a “neutral” rating in a research report on Friday, April 17th. Morgan Stanley reissued an “overweight” rating and set a $14.00 price objective on shares of Aurora Innovation in a research report on Thursday, May 7th. Wall Street Zen cut shares of Aurora Innovation from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Needham & Company LLC restated a “buy” rating and set a $13.00 target price on shares of Aurora Innovation in a report on Thursday, May 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Aurora Innovation in a report on Monday, April 20th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $11.50.

Insider Transactions at Aurora Innovation

In related news, Director Reid Hoffman sold 5,498,487 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $7.81, for a total value of $42,943,183.47. Following the transaction, the director owned 77,500 shares in the company, valued at $605,275. The trade was a 98.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.52% of the stock is currently owned by insiders.

Aurora Innovation Trading Down 6.5%

Shares of AUR stock opened at $6.94 on Wednesday. Aurora Innovation, Inc. has a 12 month low of $3.60 and a 12 month high of $8.56. The stock has a market cap of $13.61 billion, a PE ratio of -15.77 and a beta of 2.58. The company’s fifty day moving average price is $5.14 and its 200-day moving average price is $4.64.

Aurora Innovation (NASDAQ:AUR) last announced its earnings results on Wednesday, May 6th. The company reported ($0.11) EPS for the quarter, beating 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 analysts’ expectations of $0.97 million. The business’s revenue for the quarter was down 66.7% on a year-over-year basis. On average, sell-side analysts forecast that Aurora Innovation, Inc. will post -0.46 earnings per share for the current fiscal year.

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.