Key Points
- Director Reid Hoffman sold 1,202,354 Aurora Innovation shares on May 28 at an average price of $7.27, totaling about $8.74 million. The filing was disclosed with the SEC.
- Hoffman also made two earlier large sales in May, including 5.5 million shares on May 15 and 347,646 shares on May 18, indicating a continued reduction in his holdings.
- Aurora Innovation recently reported a smaller-than-expected quarterly loss and slightly higher-than-expected revenue, but analysts remain mixed, with a consensus rating of Hold and an average price target of $11.50.
Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) Director Reid Hoffman sold 1,202,354 shares of Aurora Innovation stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $7.27, for a total transaction of $8,741,113.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Reid Hoffman also recently made the following trade(s):
- On Monday, May 18th, Reid Hoffman sold 347,646 shares of Aurora Innovation stock. The shares were sold at an average price of $7.51, for a total transaction of $2,610,821.46.
- 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 transaction of $42,943,183.47.
Aurora Innovation Stock Performance
Aurora Innovation stock opened at $7.07 on Friday. Aurora Innovation, Inc. has a fifty-two week low of $3.60 and a fifty-two week high of $8.56. The firm has a 50 day moving average price of $5.52 and a 200 day moving average price of $4.75. The company has a market capitalization of $13.87 billion, a PE ratio of -16.07 and a beta of 2.58.
Aurora Innovation (NASDAQ:AUR - Get Free Report) last posted 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. 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 during the quarter, compared to the consensus estimate of $0.97 million. The company's revenue for the quarter was down 66.7% compared to the same quarter last year. As a group, equities research analysts forecast that Aurora Innovation, Inc. will post -0.46 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Aurora Innovation in a research report on Monday, April 20th. Needham & Company LLC reissued a "buy" rating and issued a $13.00 price target 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 research report on Sunday, April 26th. The Goldman Sachs Group raised their price target 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. Finally, TD Cowen raised their price target on shares of Aurora Innovation from $4.70 to $7.00 and gave the company a "hold" rating in a research report on Thursday, May 7th. Five 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's stock. Based on data from MarketBeat.com, Aurora Innovation presently has a consensus rating of "Hold" and a consensus price target of $11.50.
Check Out Our Latest Research Report on Aurora Innovation
Hedge Funds Weigh In On Aurora Innovation
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AUR. Western Wealth Management LLC lifted its position in shares of Aurora Innovation by 24.2% during the 1st quarter. Western Wealth Management LLC now owns 60,579 shares of the company's stock worth $250,000 after purchasing an additional 11,822 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Aurora Innovation by 130.0% during the 1st quarter. Bank of America Corp DE now owns 30,036,169 shares of the company's stock worth $123,749,000 after purchasing an additional 16,975,927 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Aurora Innovation by 2,068.8% during the 1st quarter. Janus Henderson Group PLC now owns 11,243,080 shares of the company's stock worth $46,319,000 after purchasing an additional 10,724,682 shares during the last quarter. Amundi lifted its position in shares of Aurora Innovation by 46.4% during the 1st quarter. Amundi now owns 3,661,728 shares of the company's stock worth $15,086,000 after purchasing an additional 1,160,872 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of Aurora Innovation by 24.6% during the 1st quarter. California State Teachers Retirement System now owns 1,338,768 shares of the company's stock worth $5,516,000 after purchasing an additional 263,978 shares during the last quarter. Hedge funds and other institutional investors own 44.71% of the company's stock.
About Aurora Innovation
(
Get Free Report)
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.
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