Aurora Innovation (NASDAQ:AUR) Announces Earnings Results

Aurora Innovation (NASDAQ:AUR) released its earnings results on Wednesday. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.01, FiscalAI reports.

Aurora Innovation Stock Down 2.2%

AUR traded down $0.10 during trading on Wednesday, hitting $4.36. The company’s stock had a trading volume of 19,853,899 shares, compared to its average volume of 17,458,193. The firm has a market capitalization of $8.44 billion, a P/E ratio of -9.69 and a beta of 2.47. Aurora Innovation has a twelve month low of $3.60 and a twelve month high of $10.77. The stock’s fifty day moving average price is $4.34 and its 200-day moving average price is $4.97.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Aurora Innovation in a research note on Monday. The Goldman Sachs Group dropped their target price on shares of Aurora Innovation from $6.00 to $4.00 and set a “neutral” rating for the company in a report on Wednesday, November 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aurora Innovation in a report on Wednesday, January 21st. Oppenheimer reiterated an “outperform” rating and set a $15.00 price objective on shares of Aurora Innovation in a research report on Wednesday, October 29th. Finally, TD Cowen reissued a “hold” rating on shares of Aurora Innovation in a research note on Thursday, October 30th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Aurora Innovation has a consensus rating of “Hold” and an average price target of $10.06.

Insider Buying and Selling at Aurora Innovation

In other news, CEO Christopher Urmson purchased 258,000 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were acquired at an average price of $3.88 per share, for a total transaction of $1,001,040.00. Following the completion of the acquisition, the chief executive officer owned 258,000 shares in the company, valued at approximately $1,001,040. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 11.85% of the company’s stock.

Institutional Investors Weigh In On Aurora Innovation

Large investors have recently modified their holdings of the stock. ARK Investment Management LLC raised its stake in Aurora Innovation by 10.1% in the 4th quarter. ARK Investment Management LLC now owns 5,220,165 shares of the company’s stock valued at $20,045,000 after acquiring an additional 476,950 shares during the period. Gateway Wealth Partners LLC purchased a new position in shares of Aurora Innovation in the fourth quarter worth about $51,000. Primecap Management Co. CA raised its position in shares of Aurora Innovation by 3.5% in the fourth quarter. Primecap Management Co. CA now owns 10,203,580 shares of the company’s stock valued at $39,182,000 after purchasing an additional 345,000 shares during the period. Deutsche Bank AG raised its position in shares of Aurora Innovation by 239.8% in the fourth quarter. Deutsche Bank AG now owns 337,970 shares of the company’s stock valued at $1,298,000 after purchasing an additional 238,495 shares during the period. Finally, Cerity Partners LLC lifted its stake in shares of Aurora Innovation by 71.4% during the 4th quarter. Cerity Partners LLC now owns 26,978 shares of the company’s stock valued at $104,000 after buying an additional 11,238 shares in the last quarter. Hedge funds and other institutional investors own 44.71% of the company’s stock.

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.