Invesco Ltd. Cuts Holdings in Aurora Innovation, Inc. (NASDAQ:AUR)

Invesco Ltd. lowered its stake in shares of Aurora Innovation, Inc. (NASDAQ:AUR) by 16.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,490,041 shares of the company’s stock after selling 492,044 shares during the period. Invesco Ltd.’s holdings in Aurora Innovation were worth $15,687,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. CIBC Asset Management Inc raised its holdings in shares of Aurora Innovation by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 35,587 shares of the company’s stock valued at $224,000 after buying an additional 1,723 shares in the last quarter. Corient Private Wealth LLC grew its position in Aurora Innovation by 11.5% during the fourth quarter. Corient Private Wealth LLC now owns 21,484 shares of the company’s stock valued at $135,000 after acquiring an additional 2,216 shares during the last quarter. Twin Tree Management LP raised its stake in shares of Aurora Innovation by 217.2% during the fourth quarter. Twin Tree Management LP now owns 4,450 shares of the company’s stock worth $28,000 after acquiring an additional 3,047 shares in the last quarter. Kingsview Wealth Management LLC lifted its holdings in shares of Aurora Innovation by 3.1% in the 4th quarter. Kingsview Wealth Management LLC now owns 136,408 shares of the company’s stock worth $859,000 after acquiring an additional 4,154 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC boosted its stake in shares of Aurora Innovation by 241.7% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 7,005 shares of the company’s stock valued at $44,000 after purchasing an additional 4,955 shares in the last quarter. 44.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Needham & Company LLC started coverage on Aurora Innovation in a research note on Tuesday, April 15th. They set a “buy” rating and a $10.00 price objective on the stock. Canaccord Genuity Group raised their price target on Aurora Innovation from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Evercore ISI boosted their price objective on Aurora Innovation from $5.00 to $6.00 and gave the company an “in-line” rating in a research report on Tuesday, February 18th. Morgan Stanley started coverage on shares of Aurora Innovation in a report on Monday, March 3rd. They issued an “overweight” rating and a $12.00 target price on the stock. Finally, The Goldman Sachs Group upgraded shares of Aurora Innovation from a “sell” rating to a “neutral” rating and upped their price target for the company from $3.00 to $6.00 in a report on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $9.63.

Aurora Innovation Stock Performance

Aurora Innovation stock opened at $6.11 on Monday. Aurora Innovation, Inc. has a fifty-two week low of $2.10 and a fifty-two week high of $10.77. The stock’s 50 day simple moving average is $7.03 and its two-hundred day simple moving average is $6.70. The stock has a market cap of $10.63 billion, a price-to-earnings ratio of -13.00 and a beta of 2.77.

Aurora Innovation (NASDAQ:AUR) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.11) earnings per share for the quarter. On average, analysts predict that Aurora Innovation, Inc. will post -0.49 earnings per share for the current year.

Aurora Innovation Company Profile

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.