Insider Selling: Aurora Innovation (NASDAQ:AUR) Director Sells 5,498,487 Shares of Stock

Aurora Innovation, Inc. (NASDAQ:AUR) Director Reid Hoffman sold 5,498,487 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $7.81, for a total value of $42,943,183.47. Following the transaction, the director directly owned 77,500 shares in the company, valued at approximately $605,275. This represents a 98.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Reid Hoffman also recently made the following trade(s):

• On Monday, May 18th, Reid Hoffman sold 347,646 shares of Aurora Innovation stock. The shares were sold at an average price of $7.51, for a total value of $2,610,821.46.

Aurora Innovation Stock Performance

Shares of NASDAQ AUR traded down $0.48 during trading hours on Tuesday, hitting $6.94. 31,062,828 shares of the company traded hands, compared to its average volume of 31,658,058. The company’s 50 day moving average price is $5.14 and its 200 day moving average price is $4.64. Aurora Innovation, Inc. has a 12 month low of $3.60 and a 12 month high of $8.56.

Aurora Innovation (NASDAQ:AUR) last released its earnings results on Wednesday, May 6th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01. The firm had revenue of $1.00 million for the quarter, compared to the consensus estimate of $0.97 million. Aurora Innovation had a negative return on equity of 40.45% and a negative net margin of 20,775.00%.The business’s quarterly revenue was down 66.7% on a year-over-year basis. Sell-side analysts predict that Aurora Innovation, Inc. will post -0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AUR shares. Wall Street Zen downgraded Aurora Innovation from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. TD Cowen boosted their price objective on Aurora Innovation from $4.70 to $7.00 and gave the company a “hold” rating in a report on Thursday, May 7th. Cantor Fitzgerald restated an “overweight” rating on shares of Aurora Innovation in a report on Monday, February 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Aurora Innovation in a report on Monday, April 20th. Finally, Needham & Company LLC restated a “buy” rating and set a $13.00 price objective on shares of Aurora Innovation in a report on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Aurora Innovation has an average rating of “Hold” and an average target price of $11.50.

Institutional Investors Weigh In On Aurora Innovation

Several hedge funds have recently made changes to their positions in AUR. Ascent Wealth Partners LLC increased its position in Aurora Innovation by 9.6% during the 1st quarter. Ascent Wealth Partners LLC now owns 15,820 shares of the company’s stock valued at $65,000 after buying an additional 1,389 shares in the last quarter. Gabelli Funds LLC increased its position in Aurora Innovation by 15.4% during the 1st quarter. Gabelli Funds LLC now owns 15,000 shares of the company’s stock valued at $62,000 after buying an additional 2,000 shares in the last quarter. Abel Hall LLC increased its position in 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 buying an additional 2,356 shares in the last quarter. World Investment Advisors increased its position in 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 buying an additional 2,406 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of Aurora Innovation by 20.1% in the second 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 period. 44.71% of the stock is currently owned by hedge funds and other 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.