Bank Pictet & Cie Europe AG Buys Shares of 3,400,000 Aurora Innovation, Inc. $AUR

Bank Pictet & Cie Europe AG acquired a new stake in shares of Aurora Innovation, Inc. (NASDAQ:AUR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,400,000 shares of the company’s stock, valued at approximately $18,326,000. Bank Pictet & Cie Europe AG owned 0.18% of Aurora Innovation at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its holdings in shares of Aurora Innovation by 463.3% in the second quarter. Farther Finance Advisors LLC now owns 7,616 shares of the company’s stock worth $40,000 after acquiring an additional 6,264 shares during the period. Autumn Glory Partners LLC purchased a new position in Aurora Innovation in the 2nd quarter worth approximately $52,000. Evolution Wealth Advisors LLC purchased a new position in Aurora Innovation in the second quarter worth $52,000. Ervin Investment Management LLC bought a new position in shares of Aurora Innovation during the 3rd quarter valued at about $54,000. Finally, International Assets Investment Management LLC bought a new position in Aurora Innovation during the second quarter valued at approximately $55,000. Institutional investors own 44.71% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Christopher Urmson acquired 258,000 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was acquired at an average cost of $3.88 per share, with a total value of $1,001,040.00. Following the acquisition, the chief executive officer directly owned 258,000 shares in the company, valued at $1,001,040. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 11.85% of the stock is owned by insiders.

Analyst Ratings Changes

AUR has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aurora Innovation in a research note on Wednesday, October 8th. Canaccord Genuity Group restated a “buy” rating and issued a $15.00 price objective on shares of Aurora Innovation in a report on Wednesday, October 29th. UBS Group restated an “underperform” rating on shares of Aurora Innovation in a research note on Wednesday, October 29th. The Goldman Sachs Group lowered their price target on shares of Aurora Innovation from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Wednesday, November 26th. Finally, Oppenheimer restated an “outperform” rating and set a $15.00 price target on shares of Aurora Innovation in a 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $10.06.

Aurora Innovation Stock Performance

Shares of Aurora Innovation stock opened at $3.84 on Friday. Aurora Innovation, Inc. has a one year low of $3.60 and a one year high of $10.77. The stock has a market cap of $7.43 billion, a P/E ratio of -8.53 and a beta of 2.47. The stock’s fifty day moving average is $4.30 and its 200 day moving average is $5.21.

Aurora Innovation (NASDAQ:AUR) last posted its quarterly earnings results on Tuesday, October 28th. The company reported ($0.11) earnings per share for the quarter, topping 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 company earned ($0.13) earnings per share. Analysts predict that Aurora Innovation, Inc. will post -0.49 EPS for the current year.

Aurora Innovation Company 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.