Norges Bank Invests $32.06 Million in Aurora Innovation, Inc. $AUR

Norges Bank acquired a new stake in shares of Aurora Innovation, Inc. (NASDAQ:AUR) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 8,347,714 shares of the company’s stock, valued at approximately $32,055,000.

A number of other hedge funds have also recently modified their holdings of the business. Eurizon Capital SGR S.p.A. bought a new position in shares of Aurora Innovation in the fourth quarter worth approximately $39,000. Geode Capital Management LLC boosted its position in shares of Aurora Innovation by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 21,488,433 shares of the company’s stock worth $82,535,000 after purchasing an additional 1,498,515 shares during the period. Legal & General Group Plc boosted its position in shares of Aurora Innovation by 3.0% in the fourth quarter. Legal & General Group Plc now owns 1,128,011 shares of the company’s stock worth $4,332,000 after purchasing an additional 33,366 shares during the period. Simplify Asset Management Inc. bought a new stake in Aurora Innovation during the fourth quarter valued at about $42,000. Finally, Global Retirement Partners LLC raised its holdings in Aurora Innovation by 144.6% during the fourth quarter. Global Retirement Partners LLC now owns 35,225 shares of the company’s stock valued at $135,000 after acquiring an additional 20,826 shares during the period. Institutional investors own 44.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AUR shares. TD Cowen raised their price target on Aurora Innovation from $4.70 to $7.00 and gave the company a “hold” rating in a report on Thursday, May 7th. The Goldman Sachs Group upped their price target on Aurora Innovation from $4.00 to $5.00 and gave the stock a “neutral” rating in a research note on Friday, April 17th. Wall Street Zen downgraded Aurora Innovation from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Northland Securities assumed coverage on Aurora Innovation in a research note on Friday, May 29th. They issued an “outperform” rating and a $11.00 price target for the company. Finally, Craig Hallum initiated coverage on Aurora Innovation in a research note on Friday, June 5th. They issued a “buy” rating and a $18.00 price target for the company. Seven 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.25.

Insider Buying and Selling at Aurora Innovation

In other news, Director Reid Hoffman sold 1,202,354 shares of Aurora Innovation stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $7.27, for a total transaction of $8,741,113.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 7,048,487 shares of company stock worth $54,295,119 in the last ninety days. 8.52% of the stock is currently owned by company insiders.

Aurora Innovation Trading Down 1.6%

AUR opened at $6.16 on Wednesday. The firm has a market cap of $12.08 billion, a P/E ratio of -14.00 and a beta of 2.62. Aurora Innovation, Inc. has a 12 month low of $3.60 and a 12 month high of $8.56. The stock has a 50-day moving average of $5.95 and a 200 day moving average of $4.91.

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

Aurora Innovation Company 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.