Norges Bank Makes New Investment in Aurora Innovation, Inc. (NASDAQ:AUR)

Norges Bank purchased a new stake in Aurora Innovation, Inc. (NASDAQ:AUR) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 7,265,446 shares of the company’s stock, valued at approximately $45,772,000. Norges Bank owned 0.42% of Aurora Innovation at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. FMR LLC grew its stake in Aurora Innovation by 206.1% in the third quarter. FMR LLC now owns 13,848,530 shares of the company’s stock valued at $81,983,000 after purchasing an additional 9,325,013 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Aurora Innovation by 15.5% in the 3rd quarter. Geode Capital Management LLC now owns 22,796,526 shares of the company’s stock worth $134,981,000 after buying an additional 3,064,342 shares during the last quarter. State Street Corp raised its stake in shares of Aurora Innovation by 15.2% during the 3rd quarter. State Street Corp now owns 22,183,252 shares of the company’s stock worth $131,325,000 after acquiring an additional 2,920,653 shares in the last quarter. Vanguard Group Inc. lifted its position in Aurora Innovation by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 113,020,406 shares of the company’s stock valued at $712,029,000 after acquiring an additional 2,687,191 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Aurora Innovation by 57.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,796,952 shares of the company’s stock valued at $30,221,000 after acquiring an additional 1,753,757 shares in the last quarter. 44.71% of the stock is owned by institutional investors.

Aurora Innovation Trading Down 9.6 %

AUR opened at $5.68 on Friday. Aurora Innovation, Inc. has a 12-month low of $2.10 and a 12-month high of $10.77. The firm has a 50 day moving average of $7.23 and a two-hundred day moving average of $6.64. The firm has a market capitalization of $9.89 billion, a PE ratio of -12.09 and a beta of 2.82.

Aurora Innovation (NASDAQ:AUR) last issued its earnings results on Wednesday, February 12th. The company reported ($0.11) earnings per share (EPS) for the quarter. As a group, analysts predict that Aurora Innovation, Inc. will post -0.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AUR shares. TD Cowen assumed coverage on Aurora Innovation in a research report on Friday, March 7th. They set a “hold” rating and a $8.00 price target on the stock. Canaccord Genuity Group increased their price target on Aurora Innovation from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Oppenheimer assumed coverage on Aurora Innovation in a research note on Thursday, March 27th. They set an “outperform” rating and a $15.00 price target on the stock. Evercore ISI increased their price objective on shares of Aurora Innovation from $5.00 to $6.00 and gave the company an “in-line” rating in a research report on Tuesday, February 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of Aurora Innovation in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Aurora Innovation presently has a consensus rating of “Hold” and an average price target of $9.07.

Aurora Innovation 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.