HITE Hedge Asset Management LLC Sells 425,004 Shares of Aurora Innovation, Inc. (NASDAQ:AUR)

HITE Hedge Asset Management LLC trimmed its position in shares of Aurora Innovation, Inc. (NASDAQ:AUR) by 69.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 182,602 shares of the company’s stock after selling 425,004 shares during the quarter. HITE Hedge Asset Management LLC’s holdings in Aurora Innovation were worth $1,081,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AUR. Sterling Investment Advisors Ltd. purchased a new position in shares of Aurora Innovation in the 3rd quarter worth $1,184,000. Charles Schwab Investment Management Inc. raised its position in shares of Aurora Innovation by 26.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,424,827 shares of the company’s stock valued at $49,875,000 after buying an additional 1,776,513 shares during the last quarter. Creative Planning purchased a new stake in shares of Aurora Innovation in the 3rd quarter valued at approximately $652,000. The Manufacturers Life Insurance Company grew its holdings in Aurora Innovation by 67.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 500,535 shares of the company’s stock worth $1,386,000 after acquiring an additional 202,413 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new stake in Aurora Innovation in the 3rd quarter valued at $2,681,000. Institutional investors own 44.71% of the company’s stock.

Insider Transactions at Aurora Innovation

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

Aurora Innovation Stock Performance

Shares of NASDAQ:AUR opened at $6.06 on Tuesday. Aurora Innovation, Inc. has a 52-week low of $2.10 and a 52-week high of $7.01. The company has a market capitalization of $10.41 billion, a PE ratio of -12.37 and a beta of 2.86. The company has a fifty day moving average of $5.91 and a 200-day moving average of $4.33.

Wall Street Analysts Forecast Growth

AUR has been the topic of several research reports. Canaccord Genuity Group restated a “buy” rating and issued a $7.00 price target on shares of Aurora Innovation in a report on Monday, September 30th. Wolfe Research initiated coverage on Aurora Innovation in a report on Tuesday, November 26th. They set a “peer perform” rating for the company. The Goldman Sachs Group upped their price target on Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a research note on Monday, November 4th. Evercore ISI increased their price objective on Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a report on Monday, October 14th. Finally, TD Cowen raised their target price on shares of Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.63.

Aurora Innovation Company 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.