Norges Bank Purchases Shares of 8,095,546 Aurora Innovation, Inc. $AUR

Norges Bank purchased a new position in Aurora Innovation, Inc. (NASDAQ:AUR) during the second quarter, HoldingsChannel.com reports. The fund purchased 8,095,546 shares of the company’s stock, valued at approximately $42,421,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in shares of Aurora Innovation by 463.3% during the second quarter. Farther Finance Advisors LLC now owns 7,616 shares of the company’s stock worth $40,000 after purchasing an additional 6,264 shares during the period. PNC Financial Services Group Inc. raised its position in Aurora Innovation by 37.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,683 shares of the company’s stock valued at $52,000 after purchasing an additional 2,085 shares during the last quarter. Autumn Glory Partners LLC bought a new position in Aurora Innovation during the 2nd quarter valued at approximately $52,000. Evolution Wealth Advisors LLC purchased a new stake in Aurora Innovation in the 2nd quarter worth approximately $52,000. Finally, Legacy Financial Strategies LLC bought a new stake in shares of Aurora Innovation in the 2nd quarter worth approximately $55,000. 44.71% of the stock is owned by institutional investors.

Aurora Innovation Trading Down 2.4%

AUR opened at $4.46 on Friday. The company has a market cap of $8.63 billion, a price-to-earnings ratio of -9.91 and a beta of 2.46. The stock has a fifty day simple moving average of $4.73 and a two-hundred day simple moving average of $5.43. Aurora Innovation, Inc. has a 12-month low of $3.60 and a 12-month high of $10.77.

Aurora Innovation (NASDAQ:AUR) last released its earnings results on Tuesday, October 28th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. The business had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $1.23 million. During the same period in the prior year, the company earned ($0.13) earnings per share. On average, analysts predict that Aurora Innovation, Inc. will post -0.49 EPS for the current year.

Insider Transactions at Aurora Innovation

In related news, CEO Christopher Urmson purchased 258,000 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were purchased at an average cost of $3.88 per share, with a total value of $1,001,040.00. Following the transaction, the chief executive officer directly owned 258,000 shares in the company, valued at $1,001,040. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brittany Bagley sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $5.39, for a total value of $269,500.00. Following the completion of the sale, the director owned 398,372 shares in the company, valued at $2,147,225.08. The trade was a 11.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 11.85% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AUR has been the subject of a number of recent analyst reports. Oppenheimer restated an “outperform” rating and set a $15.00 target price on shares of Aurora Innovation in a report on Wednesday, October 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Aurora Innovation in a research report on Wednesday, October 8th. UBS Group restated an “underperform” rating on shares of Aurora Innovation in a report on Wednesday, October 29th. 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 research report on Wednesday, November 26th. Finally, Cowen reiterated a “hold” rating on shares of Aurora Innovation in a research report on Thursday, October 30th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.06.

About Aurora Innovation

Aurora Innovation, Inc operates as a self-driving technology company in the United States. It focuses on developing Aurora Driver, a platform that brings a suite of self-driving hardware, software, and data services together to adapt and interoperate vehicles. The company was founded in 2017 and is headquartered in Pittsburgh, Pennsylvania.