Brokerages Set Aurora Innovation, Inc. (NASDAQ:AUR) Target Price at $12.22

Shares of Aurora Innovation, Inc. (NASDAQ:AUR) have received an average rating of “Hold” from the eleven analysts that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $12.2222.

A number of analysts have issued reports on the company. The Goldman Sachs Group lifted their price objective on Aurora Innovation from $4.00 to $5.00 and gave the stock a “neutral” rating in a research note on Friday, April 17th. Needham & Company LLC reissued a “buy” rating and issued a $13.00 target price on shares of Aurora Innovation in a report on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Aurora Innovation in a report on Friday, July 17th. Craig Hallum began coverage on shares of Aurora Innovation in a research report on Friday, June 5th. They issued a “buy” rating and a $18.00 price target on the stock. Finally, Wall Street Zen lowered shares of Aurora Innovation from a “sell” rating to a “strong sell” rating in a research report on Saturday.

Insider Activity

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

Institutional Investors Weigh In On Aurora Innovation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ascent Wealth Partners LLC lifted its stake in shares of Aurora Innovation by 9.6% in the 1st quarter. Ascent Wealth Partners LLC now owns 15,820 shares of the company’s stock valued at $65,000 after purchasing an additional 1,389 shares during the last quarter. Gabelli Funds LLC boosted its holdings in shares of Aurora Innovation by 15.4% in the 1st quarter. Gabelli Funds LLC now owns 15,000 shares of the company’s stock worth $62,000 after purchasing an additional 2,000 shares during the period. Abel Hall LLC increased its position in shares of Aurora Innovation by 21.0% during the 4th quarter. Abel Hall LLC now owns 13,596 shares of the company’s stock valued at $52,000 after purchasing an additional 2,356 shares during the last quarter. World Investment Advisors increased its position in shares of Aurora Innovation by 7.4% during the 4th quarter. World Investment Advisors now owns 34,812 shares of the company’s stock valued at $134,000 after purchasing an additional 2,406 shares during the last quarter. Finally, Cerity Partners LLC increased its position in shares of Aurora Innovation by 20.1% during the 2nd quarter. Cerity Partners LLC now owns 14,686 shares of the company’s stock valued at $77,000 after purchasing an additional 2,458 shares during the last quarter. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

Aurora Innovation Stock Up 6.5%

Shares of Aurora Innovation stock opened at $7.23 on Friday. The firm has a market cap of $14.18 billion, a price-to-earnings ratio of -15.38 and a beta of 2.64. The business has a 50-day moving average price of $6.44 and a 200-day moving average price of $5.50. Aurora Innovation has a twelve month low of $3.60 and a twelve month high of $8.56.

Aurora Innovation (NASDAQ:AUR) last posted its earnings results on Wednesday, July 29th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). Aurora Innovation had a negative return on equity of 43.94% and a negative net margin of 18,000.00%.The firm had revenue of $2.00 million during the quarter, compared to analysts’ expectations of $1.66 million. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. Aurora Innovation’s quarterly revenue was up 100.0% on a year-over-year basis. On average, equities analysts expect that Aurora Innovation will post -0.48 EPS for the current fiscal year.

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.