Permanent Capital Management LP Buys New Holdings in Aurora Innovation, Inc. $AUR

Permanent Capital Management LP bought a new position in Aurora Innovation, Inc. (NASDAQ:AUR) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,494,540 shares of the company’s stock, valued at approximately $13,446,000. Aurora Innovation accounts for 2.5% of Permanent Capital Management LP’s investment portfolio, making the stock its 10th biggest holding. Permanent Capital Management LP owned approximately 0.14% of Aurora Innovation at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Aurora Innovation during the 2nd quarter worth about $42,421,000. Squarepoint Ops LLC raised its stake in Aurora Innovation by 3,256.1% during the second quarter. Squarepoint Ops LLC now owns 6,753,259 shares of the company’s stock worth $35,387,000 after acquiring an additional 6,552,034 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Aurora Innovation during the second quarter valued at $31,250,000. Durable Capital Partners LP lifted its holdings in shares of Aurora Innovation by 36.7% during the second quarter. Durable Capital Partners LP now owns 20,404,238 shares of the company’s stock valued at $106,918,000 after acquiring an additional 5,481,969 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of Aurora Innovation by 3,367.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,521,123 shares of the company’s stock valued at $13,211,000 after purchasing an additional 2,448,409 shares in the last quarter. Institutional investors and hedge funds own 44.71% of the company’s stock.

Aurora Innovation Price Performance

Shares of Aurora Innovation stock opened at $4.00 on Monday. The firm has a 50 day simple moving average of $4.40 and a 200 day simple moving average of $5.25. Aurora Innovation, Inc. has a fifty-two week low of $3.60 and a fifty-two week high of $10.77. The firm has a market cap of $7.74 billion, a P/E ratio of -8.89 and a beta of 2.46.

Aurora Innovation (NASDAQ:AUR) last announced its quarterly earnings data on Tuesday, October 28th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. The firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $1.23 million. During the same quarter in the previous year, the business posted ($0.13) earnings per share. On average, sell-side analysts expect that Aurora Innovation, Inc. will post -0.49 EPS for the current year.

Wall Street Analyst Weigh In

AUR has been the subject of a number of recent analyst reports. UBS Group reiterated an “underperform” rating on shares of Aurora Innovation in a research report on Wednesday, October 29th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $15.00 price objective on shares of Aurora Innovation in a report on Wednesday, October 29th. TD Cowen reduced their target price on Aurora Innovation from $7.40 to $5.50 and set a “hold” rating on the stock in a report on Thursday, October 30th. The Goldman Sachs Group decreased their price target on Aurora Innovation from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 26th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $15.00 price objective on shares of Aurora Innovation in a research report on Wednesday, October 29th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Aurora Innovation presently has an average rating of “Hold” and an average price target of $10.06.

Insider Activity

In other news, Director Brittany Bagley sold 50,000 shares of Aurora Innovation stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $5.39, for a total transaction of $269,500.00. Following the completion of the sale, the director owned 398,372 shares in the company, valued at $2,147,225.08. The trade was a 11.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher Urmson acquired 258,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was acquired at an average price of $3.88 per share, for a total transaction of $1,001,040.00. Following the completion of the acquisition, the chief executive officer directly owned 258,000 shares of the company’s stock, valued at $1,001,040. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 11.85% of the stock is owned by company insiders.

Aurora Innovation Profile

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.