Wellington Management Group LLP acquired a new position in shares of Aurora Innovation, Inc. (NASDAQ:AUR – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,796,580 shares of the company’s stock, valued at approximately $25,893,000.
A number of other institutional investors have also added to or reduced their stakes in AUR. Danske Bank A S bought a new position in Aurora Innovation during the third quarter valued at about $36,000. Versant Capital Management Inc increased its position in shares of Aurora Innovation by 964.9% during the second quarter. Versant Capital Management Inc now owns 8,019 shares of the company’s stock valued at $55,000 after purchasing an additional 7,266 shares during the period. GAMMA Investing LLC raised its stake in shares of Aurora Innovation by 79.7% in the second quarter. GAMMA Investing LLC now owns 8,501 shares of the company’s stock valued at $58,000 after purchasing an additional 3,770 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new position in Aurora Innovation in the fourth quarter worth $35,000. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Aurora Innovation during the fourth quarter worth $39,000. 44.71% of the stock is owned by institutional investors and hedge funds.
Aurora Innovation Price Performance
Shares of AUR opened at $6.34 on Friday. The company has a market capitalization of $12.71 billion, a P/E ratio of -13.49 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 business’s 50 day simple moving average is $6.34 and its 200-day simple moving average is $5.80.
Insider Transactions at Aurora Innovation
In other news, Director David M. Wehner purchased 82,500 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were acquired at an average price 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michelangelo Volpi sold 2,842,682 shares of Aurora Innovation stock in a transaction on Monday, August 17th. The stock was sold at an average price of $7.00, for a total transaction of $19,898,774.00. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 6,390,753 shares of company stock worth $44,826,378. Insiders own 8.52% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $12.00 price objective on shares of Aurora Innovation in a report on Thursday, July 23rd. Northland Securities assumed coverage on Aurora Innovation in a report on Friday, May 29th. They set an “outperform” rating and a $11.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Aurora Innovation in a report on Friday, July 17th. Craig Hallum began coverage on Aurora Innovation in a research note on Friday, June 5th. They issued a “buy” rating and a $18.00 price target on the stock. Finally, Wall Street Zen cut Aurora Innovation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $12.22.
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.
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