Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Holdings in Aurora Innovation, Inc. $AUR

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Aurora Innovation, Inc. (NASDAQ:AUR) by 48.9% during the second quarter, HoldingsChannel.com reports. The firm owned 677,068 shares of the company’s stock after purchasing an additional 222,276 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Aurora Innovation were worth $3,548,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. purchased a new position in Aurora Innovation during the second quarter valued at $114,000. GPS Wealth Strategies Group LLC grew its stake in shares of Aurora Innovation by 93.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 44,540 shares of the company’s stock worth $233,000 after acquiring an additional 21,494 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Aurora Innovation by 3.7% during the second quarter. Bank of New York Mellon Corp now owns 3,829,681 shares of the company’s stock valued at $20,068,000 after acquiring an additional 137,861 shares in the last quarter. Canton Hathaway LLC raised its position in shares of Aurora Innovation by 29.1% in the 2nd quarter. Canton Hathaway LLC now owns 91,000 shares of the company’s stock worth $477,000 after purchasing an additional 20,500 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. purchased a new position in shares of Aurora Innovation in the 2nd quarter worth about $165,000. Institutional investors own 44.71% of the company’s stock.

Insider Activity at Aurora Innovation

In other news, Director Brittany Bagley sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $5.39, for a total transaction of $269,500.00. Following the completion of the transaction, the director directly owned 398,372 shares in the company, valued at approximately $2,147,225.08. This represents a 11.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 11.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. TD Cowen reduced their price objective on shares of Aurora Innovation from $7.40 to $5.50 and set a “hold” rating for the company in a research note on Thursday, October 30th. Cowen reiterated a “hold” rating on shares of Aurora Innovation in a report on Thursday, October 30th. Canaccord Genuity Group reissued a “buy” rating and set a $15.00 price target on shares of Aurora Innovation in a research report on Wednesday, October 29th. UBS Group restated an “underperform” rating on shares of Aurora Innovation in a report on Wednesday, October 29th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of Aurora Innovation in a research report on Wednesday, October 29th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.44.

Aurora Innovation Stock Performance

Shares of Aurora Innovation stock opened at $4.16 on Friday. Aurora Innovation, Inc. has a fifty-two week low of $4.04 and a fifty-two week high of $10.77. The company has a market capitalization of $8.05 billion, a P/E ratio of -9.24 and a beta of 2.44. The company has a fifty day moving average of $5.29 and a 200 day moving average of $5.80.

Aurora Innovation (NASDAQ:AUR) last announced its quarterly earnings results on Tuesday, October 28th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.01. The company had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $1.23 million. During the same quarter in the previous year, the firm earned ($0.13) EPS. Analysts forecast that Aurora Innovation, Inc. will post -0.49 EPS for the current year.

About Aurora Innovation

Aurora Innovation, Inc operates as a self-driving technology company in the United States. It focuses on developing Aurora Driver, a platform that brings a suite of self-driving hardware, software, and data services together to adapt and interoperate vehicles. The company was founded in 2017 and is headquartered in Pittsburgh, Pennsylvania.