Reid Hoffman Sells 1,202,354 Shares of Aurora Innovation (NASDAQ:AUR) Stock

Aurora Innovation, Inc. (NASDAQ:AUR) Director Reid Hoffman sold 1,202,354 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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.
• On Friday, May 15th, Reid Hoffman sold 5,498,487 shares of Aurora Innovation stock. The shares were sold at an average price of $7.81, for a total value of $42,943,183.47.

Aurora Innovation Stock Performance

AUR stock opened at $7.34 on Friday. Aurora Innovation, Inc. has a 1 year low of $3.60 and a 1 year high of $8.56. The stock’s 50 day moving average price is $5.59 and its 200 day moving average price is $4.77. The firm has a market cap of $14.40 billion, a P/E ratio of -16.68 and a beta of 2.58.

Aurora Innovation (NASDAQ:AUR) last issued its quarterly 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 company had revenue of $1.00 million during 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%.Aurora Innovation’s revenue for the quarter was down 66.7% compared to the same quarter last year. On average, research analysts predict that Aurora Innovation, Inc. will post -0.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. The Goldman Sachs Group boosted their price target on Aurora Innovation from $4.00 to $5.00 and gave the company a “neutral” rating in a report on Friday, April 17th. Wall Street Zen downgraded Aurora Innovation from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Morgan Stanley reiterated an “overweight” rating and issued a $14.00 price target on shares of Aurora Innovation in a report on Thursday, May 7th. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price target on shares of Aurora Innovation in a report on Thursday, May 7th. Finally, Northland Securities assumed coverage on Aurora Innovation in a report on Friday. They issued an “outperform” rating and a $11.00 price target for the company. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Aurora Innovation presently has a consensus rating of “Hold” and an average target price of $11.43.

Hedge Funds Weigh In On Aurora Innovation

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Danske Bank A S purchased a new position in Aurora Innovation in the 3rd quarter valued at about $36,000. Garton & Associates Financial Advisors LLC purchased a new position in Aurora Innovation in the 4th quarter valued at about $35,000. Fifth Third Bancorp boosted its position in Aurora Innovation by 101.4% in the 3rd quarter. Fifth Third Bancorp now owns 9,930 shares of the company’s stock valued at $54,000 after buying an additional 5,000 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in Aurora Innovation in the 4th quarter valued at about $39,000. Finally, Integrated Advisors Network LLC purchased a new position in Aurora Innovation in the 3rd quarter valued at about $54,000. 44.71% of the stock is 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.