Amova Asset Management Americas Inc. Lowers Stock Holdings in Aurora Innovation, Inc. $AUR

Amova Asset Management Americas Inc. lowered its position in shares of Aurora Innovation, Inc. (NASDAQ:AUR) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,277,469 shares of the company’s stock after selling 161,676 shares during the period. Amova Asset Management Americas Inc.’s holdings in Aurora Innovation were worth $25,800,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AUR. Garton & Associates Financial Advisors LLC bought a new position in shares of Aurora Innovation during the 4th quarter valued at about $35,000. Danske Bank A S purchased a new position in shares of Aurora Innovation during the 3rd quarter valued at about $36,000. Eurizon Capital SGR S.p.A. bought a new stake in Aurora Innovation in the 4th quarter worth approximately $39,000. Stonebridge Financial Group LLC MO bought a new stake in Aurora Innovation in the 4th quarter worth approximately $40,000. Finally, Equitable Holdings Inc. purchased a new stake in Aurora Innovation in the fourth quarter worth approximately $41,000. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AUR. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aurora Innovation in a research report on Friday. Needham & Company LLC restated a “buy” rating and issued a $13.00 price objective on shares of Aurora Innovation in a report on Thursday, May 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $14.00 price objective on shares of Aurora Innovation in a research note on Thursday, May 7th. The Goldman Sachs Group increased their target price on shares of Aurora Innovation from $4.00 to $5.00 and gave the company a “neutral” rating in a report on Friday, April 17th. Finally, 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 target price on the stock. 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.com, the company presently has an average rating of “Hold” and a consensus target price of $12.25.

Aurora Innovation Price Performance

Shares of AUR stock opened at $6.09 on Tuesday. The business has a 50-day moving average of $6.67 and a 200 day moving average of $5.35. Aurora Innovation, Inc. has a 1-year low of $3.60 and a 1-year high of $8.56. The stock has a market capitalization of $11.94 billion, a PE ratio of -13.84 and a beta of 2.63.

Aurora Innovation (NASDAQ:AUR) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. Aurora Innovation had a negative return on equity of 40.45% and a negative net margin of 20,775.00%.The business had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $0.97 million. The firm’s revenue for the quarter was down 66.7% compared to the same quarter last year. Analysts anticipate that Aurora Innovation, Inc. will post -0.47 EPS for the current year.

Insider Activity at Aurora Innovation

In related news, Director Reid Hoffman sold 5,498,487 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $7.81, for a total transaction of $42,943,183.47. Following the completion of the sale, the director directly owned 77,500 shares in the company, valued at $605,275. This represents a 98.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David M. Wehner purchased 82,500 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were purchased at an average cost of $6.04 per share, with a total value of $498,300.00. Following 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 7,048,487 shares of company stock worth $54,295,119 in the last 90 days. Company 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.