Bronte Capital Management Pty Ltd. Invests $9.55 Million in Aurora Innovation, Inc. $AUR

Bronte Capital Management Pty Ltd. acquired a new position in shares of Aurora Innovation, Inc. (NASDAQ:AUR) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,318,748 shares of the company’s stock, valued at approximately $9,553,000. Aurora Innovation makes up approximately 1.0% of Bronte Capital Management Pty Ltd.’s holdings, making the stock its 21st biggest position. Bronte Capital Management Pty Ltd. owned 0.12% of Aurora Innovation as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Danske Bank A S bought a new position in shares of Aurora Innovation during the 3rd quarter worth approximately $36,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Aurora Innovation in the fourth quarter worth $35,000. Eurizon Capital SGR S.p.A. acquired a new position in Aurora Innovation during the fourth quarter worth $39,000. Kestra Private Wealth Services LLC bought a new position in Aurora Innovation in the third quarter valued at $55,000. Finally, Stonebridge Financial Group LLC MO bought a new position in Aurora Innovation in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 44.71% of the company’s stock.

Aurora Innovation Stock Performance

Aurora Innovation stock opened at $6.63 on Friday. The stock has a 50-day simple moving average of $6.59 and a 200 day simple moving average of $5.17. The stock has a market capitalization of $13.00 billion, a P/E ratio of -15.07 and a beta of 2.63. Aurora Innovation, Inc. has a 52 week low of $3.60 and a 52 week high of $8.56.

Aurora Innovation (NASDAQ:AUR) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. The company had revenue of $1.00 million during the quarter, compared to analysts’ expectations 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 was down 66.7% on a year-over-year basis. Research analysts forecast that Aurora Innovation, Inc. will post -0.47 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on AUR shares. Weiss Ratings restated a “sell (d-)” rating on shares of Aurora Innovation in a research note on Monday, April 20th. Northland Securities started coverage on Aurora Innovation in a research report on Friday, May 29th. They issued an “outperform” rating and a $11.00 target price on the stock. The Goldman Sachs Group upped their target price on Aurora Innovation from $4.00 to $5.00 and gave the stock a “neutral” rating in a report on Friday, April 17th. Wall Street Zen cut Aurora Innovation from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Finally, Morgan Stanley restated an “overweight” rating and issued a $14.00 price target on shares of Aurora Innovation in a research note on Thursday, May 7th. Seven equities research 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’s stock. Based on data from MarketBeat, Aurora Innovation currently has an average rating of “Hold” and a consensus price target of $12.25.

Insider Buying and Selling at Aurora Innovation

In related news, Director David M. Wehner acquired 82,500 shares of Aurora Innovation stock in a transaction on Thursday, June 11th. The stock was purchased at an average cost of $6.04 per share, with a total value of $498,300.00. Following the completion of the transaction, the director directly owned 246,519 shares in the company, valued at $1,488,974.76. This trade represents a 50.30% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Reid Hoffman sold 1,202,354 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $7.27, for a total transaction of $8,741,113.58. The SEC filing for this sale provides additional information. Insiders have sold a total of 7,048,487 shares of company stock valued at $54,295,119 in the last ninety days. Insiders own 8.52% of the company’s stock.

About Aurora Innovation

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.