ARK Investment Management LLC Invests $12.43 Million in Aurora Innovation, Inc. (NASDAQ:AUR)

ARK Investment Management LLC purchased a new position in shares of Aurora Innovation, Inc. (NASDAQ:AUR) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,100,209 shares of the company’s stock, valued at approximately $12,433,000.

Several other institutional investors have also modified their holdings of the company. Sequoia Financial Advisors LLC acquired a new position in shares of Aurora Innovation during the 2nd quarter worth about $30,000. Profund Advisors LLC acquired a new position in Aurora Innovation in the second quarter valued at approximately $46,000. Empowered Funds LLC boosted its holdings in Aurora Innovation by 44.1% in the first quarter. Empowered Funds LLC now owns 17,597 shares of the company’s stock valued at $50,000 after purchasing an additional 5,386 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in Aurora Innovation during the second quarter worth approximately $51,000. Finally, Diversified Portfolios Inc. purchased a new stake in shares of Aurora Innovation during the 2nd quarter worth approximately $54,000. 44.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Reid Hoffman sold 1,393,874 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $5.45, for a total value of $7,596,613.30. Following the transaction, the director now owns 672,425 shares of the company’s stock, valued at approximately $3,664,716.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.83% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AUR has been the topic of a number of recent analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $7.00 target price on shares of Aurora Innovation in a research report on Monday, September 30th. TD Cowen boosted their target price on Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a report on Thursday, October 31st. The Goldman Sachs Group raised their price target on Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a research note on Monday. Finally, Evercore ISI boosted their price objective on Aurora Innovation from $3.00 to $5.00 and gave the company an “in-line” rating in a research note on Monday, October 14th.

Aurora Innovation Stock Performance

Shares of AUR opened at $5.49 on Friday. The company has a market capitalization of $9.43 billion, a price-to-earnings ratio of -11.20 and a beta of 2.82. Aurora Innovation, Inc. has a fifty-two week low of $1.73 and a fifty-two week high of $7.01. The firm has a 50-day simple moving average of $5.45 and a 200-day simple moving average of $3.97.

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.