Bronte Capital Management Pty Ltd. Acquires Shares of 2,318,748 Aurora Innovation, Inc. $AUR

Bronte Capital Management Pty Ltd. acquired a new position in shares of Aurora Innovation, Inc. (NASDAQ:AUR) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,318,748 shares of the company’s stock, valued at approximately $9,553,000. Aurora Innovation accounts for 1.0% of Bronte Capital Management Pty Ltd.’s holdings, making the stock its 21st largest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Garton & Associates Financial Advisors LLC bought a new stake in Aurora Innovation in the 4th quarter valued at about $35,000. Danske Bank A S bought a new position in shares of Aurora Innovation during the third quarter worth approximately $36,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Aurora Innovation in the fourth quarter valued at approximately $39,000. Stonebridge Financial Group LLC MO acquired a new stake in shares of Aurora Innovation in the fourth quarter valued at approximately $40,000. Finally, Equitable Holdings Inc. bought a new stake in shares of Aurora Innovation in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 44.71% of the company’s stock.

Analyst Ratings Changes

AUR has been the subject of a number of recent analyst reports. TD Cowen upped their target price on Aurora Innovation from $4.70 to $7.00 and gave the company a “hold” rating in a research report on Thursday, May 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $14.00 price target on shares of Aurora Innovation in a research note 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Aurora Innovation in a report on Monday, April 20th. Finally, Northland Securities initiated coverage on shares of Aurora Innovation in a research report on Friday, May 29th. They issued an “outperform” rating and a $11.00 target price for the company. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.25.

Aurora Innovation Price Performance

AUR opened at $6.63 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 market capitalization of $13.00 billion, a price-to-earnings ratio of -15.07 and a beta of 2.63. The company’s 50 day moving average price is $6.59 and its two-hundred day moving average price is $5.17.

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

Insider Buying and Selling at Aurora Innovation

In other news, Director Reid Hoffman sold 5,498,487 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $7.81, for a total value of $42,943,183.47. Following the completion of the sale, the director owned 77,500 shares of the company’s stock, valued at approximately $605,275. This represents a 98.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David M. Wehner acquired 82,500 shares of the stock in a transaction dated Thursday, June 11th. The shares were bought at an average price of $6.04 per share, with a total value of $498,300.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have sold 7,048,487 shares of company stock valued at $54,295,119. 8.52% of the stock is owned by corporate insiders.

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.