Aurora Innovation (NASDAQ:AUR) Announces Earnings Results, Misses Estimates By $0.02 EPS

Aurora Innovation (NASDAQ:AUR) posted its quarterly earnings data on Wednesday. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02), FiscalAI reports. The business had revenue of $2.00 million during the quarter, compared to the consensus estimate of $1.66 million. Aurora Innovation had a negative return on equity of 40.45% and a negative net margin of 20,775.00%.

Aurora Innovation Price Performance

NASDAQ:AUR traded down $0.23 during mid-day trading on Wednesday, reaching $5.98. The stock had a trading volume of 33,311,347 shares, compared to its average volume of 23,468,385. Aurora Innovation has a 12 month low of $3.60 and a 12 month high of $8.56. The stock has a market capitalization of $11.73 billion, a PE ratio of -13.59 and a beta of 2.63. The stock has a 50-day simple moving average of $6.50 and a two-hundred day simple moving average of $5.44.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AUR shares. Craig Hallum started coverage on shares of Aurora Innovation in a research note on Friday, June 5th. They set a “buy” rating and a $18.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and set a $13.00 price target on shares of Aurora Innovation in a research note on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Aurora Innovation in a research note on Friday, July 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $12.00 price objective on shares of Aurora Innovation in a research note on Thursday, July 23rd. Finally, Wall Street Zen downgraded shares of Aurora Innovation from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.22.

Insider Buying and Selling

In other news, Director David M. Wehner bought 82,500 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was purchased at an average cost of $6.04 per share, for a total transaction of $498,300.00. Following the completion of the transaction, the director owned 246,519 shares of the company’s stock, valued at $1,488,974.76. This trade represents a 50.30% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Reid Hoffman sold 1,202,354 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $7.27, for a total value of $8,741,113.58. The disclosure for this sale is available in the SEC filing. Insiders sold 7,048,487 shares of company stock worth $54,295,119 in the last 90 days. Company insiders own 8.52% of the company’s stock.

Institutional Investors Weigh In On Aurora Innovation

A number of institutional investors have recently added to or reduced their stakes in AUR. State Street Corp boosted its stake in Aurora Innovation by 8.1% in the fourth quarter. State Street Corp now owns 20,544,319 shares of the company’s stock valued at $78,890,000 after acquiring an additional 1,533,171 shares during the last quarter. Durable Capital Partners LP boosted its stake in Aurora Innovation by 36.7% in the 2nd quarter. Durable Capital Partners LP now owns 20,404,238 shares of the company’s stock worth $106,918,000 after purchasing an additional 5,481,969 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Aurora Innovation by 4.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 17,770,780 shares of the company’s stock valued at $68,240,000 after acquiring an additional 720,987 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Aurora Innovation by 18.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,316,350 shares of the company’s stock valued at $43,459,000 after purchasing an additional 1,758,726 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Aurora Innovation by 6.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,192,047 shares of the company’s stock worth $42,977,000 after acquiring an additional 685,315 shares during the last quarter. 44.71% of the stock is owned by institutional investors.

Aurora Innovation Company 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.