T. Rowe Price Investment Manageme recently announced the acquisition of new stake in Aurora Innovation Inc (NASDAQ:AUR). The institutional investor has increased its shareholding in the Technology company by 113.65% to 115.36 million shares with purchase of 61.37 million shares. This fresh investment now brings its stake to 10.64% valued currently at $201.88 million. In addition, Morgan Stanley Investment Managem raised its holdings by 62.01 million to 84.1 million shares. And The Vanguard Group, Inc. has lifted its position by 73.52% or 33.05 million shares – to 78.01 million shares.
With over 8.27 million Aurora Innovation Inc (AUR) shares trading Monday and a closing price of $2.22 on the day, the dollar volume was approximately $18.36 million. The shares have shown a positive half year performance of 48.00% and its price on 11/20/23 gained nearly 0.91%. Currently, there are 754.00M common shares owned by the public and among those 671.69M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for AUR have a consensus price objective of $4.05. The analysts have set the share’s price value over the next 12 months at a high of $7.00 and a low of $1.75. The average price target is 45.19% above its recent price level and a downside to the estimated low will see the stock lose -26.86% over that period. But an upside of 68.29% will see the stock hit the forecast high price target while median target price for the stock is $3.00.
Insiders at the company have transacted a total of 104 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 45 of these insider trades were purchases, accounting for 13,391,985 shares. Insider sales of the common stock occurred on 59 occasions, with total insider shares sold totaling 8,296,895 shares.
The top 3 mutual fund holders in Aurora Innovation Inc are T Rowe Price Capital Appreciation, Scottish Mortgage Investment Trus, and American Funds Growth Fund of Ame. T Rowe Price Capital Appreciation owns 74.22 million shares of the company’s stock, all valued at over $129.89 million. The company bought an additional 39.56 million shares recently to bring their total holdings to about 6.85% of the shares outstanding. American Funds Growth Fund of Ame bought 27.49 million shares to bring its total holdings to over 27.49 million shares at a value of $48.1 million. American Funds Growth Fund of Ame now owns shares totaling to 2.54% of the shares outstanding.
Shares of Aurora Innovation Inc (NASDAQ: AUR) opened at $2.18, down -$0.02 from a prior closing price of $2.20. However, the script later moved the day high at 2.3600, up 0.91%. The company’s stock has a 5-day price change of 20.65% and -32.11% over the past three months. AUR shares are trading 83.47% year to date (YTD), with the 12-month market performance up to 30.59% higher. It has a 12-month low price of $1.10 and touched a high of $3.92 over the same period. AUR has an average intraday trading volume of 7.58 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 16.89%, -0.53%, and 4.08% respectively.
Institutional ownership of Aurora Innovation Inc (NASDAQ: AUR) shares accounts for 39.63% of the company’s 754.00M shares outstanding. Mutual fund holders own 3.17%, while other institutional holders and individual stakeholders account for 35.92% and 19.63% respectively.
It has a market capitalization of $3.37B and a beta (3y monthly) value of 2.73. The earnings-per-share (ttm) stands at -$0.74. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.22% over the week and 8.08% over the month.
Analysts forecast that Aurora Innovation Inc (AUR) will achieve an EPS of -$0.15 for the current quarter, -$0.14 for the next quarter and -$0.57 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.16 while analysts give the company a high EPS estimate of -$0.13. Comparatively, EPS for the current quarter was -$0.25 a year ago. Earnings per share for the fiscal year are expected to increase by 58.41%, and 7.01% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Aurora Innovation Inc (AUR) as a “Moderate Buy” at a consensus score of 2.33. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 4 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the AUR, a number of firms have released research notes about the stock. TD Cowen stated their Market Perform rating for the stock in a research note on September 19, 2023, with the firm’s price target at $3.
