Victory Capital Management Inc. Grows Stake in Aurora Innovation, Inc. (NASDAQ:AUR)

Victory Capital Management Inc. increased its holdings in Aurora Innovation, Inc. (NASDAQ:AUR) by 9.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,291 shares of the company’s stock after purchasing an additional 10,092 shares during the period. Victory Capital Management Inc.’s holdings in Aurora Innovation were worth $665,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. grew its position in shares of Aurora Innovation by 78.4% during the second quarter. Baillie Gifford & Co. now owns 72,438,562 shares of the company’s stock valued at $200,655,000 after purchasing an additional 31,841,994 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Aurora Innovation by 273.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,190,426 shares of the company’s stock worth $14,377,000 after acquiring an additional 3,800,901 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Aurora Innovation by 23.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,337,429 shares of the company’s stock valued at $36,941,000 after acquiring an additional 2,502,002 shares during the last quarter. ARK Investment Management LLC purchased a new position in shares of Aurora Innovation in the third quarter valued at $12,433,000. Finally, Rhumbline Advisers raised its stake in Aurora Innovation by 114.7% during the second quarter. Rhumbline Advisers now owns 1,160,176 shares of the company’s stock valued at $3,214,000 after purchasing an additional 619,791 shares in the last quarter. 44.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Aurora Innovation news, Director Reid Hoffman sold 3,500,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $5.58, for a total value of $19,530,000.00. Following the transaction, the director now directly owns 382,425 shares in the company, valued at $2,133,931.50. This represents a 90.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gloria R. Boyland sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $6.30, for a total transaction of $189,000.00. Following the transaction, the director now directly owns 344,647 shares in the company, valued at approximately $2,171,276.10. This trade represents a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,776,667 shares of company stock valued at $48,432,337. Insiders own 13.83% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a report on Monday, November 4th. Evercore ISI upped their price objective on Aurora Innovation from $3.00 to $5.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. TD Cowen lifted their target price on Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Canaccord Genuity Group restated a “buy” rating and set a $7.00 price target on shares of Aurora Innovation in a report on Monday, September 30th. Finally, Wolfe Research assumed coverage on Aurora Innovation in a research report on Tuesday. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $4.63.

Aurora Innovation Price Performance

Shares of NASDAQ AUR opened at $6.49 on Friday. Aurora Innovation, Inc. has a 1 year low of $2.06 and a 1 year high of $7.01. The firm has a 50-day simple moving average of $5.84 and a two-hundred day simple moving average of $4.25. The company has a market cap of $11.15 billion, a P/E ratio of -13.24 and a beta of 2.82.

About Aurora Innovation

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.