Sumitomo Mitsui Trust Group Inc. Increases Stake in Aurora Innovation, Inc. (NASDAQ:AUR)

Sumitomo Mitsui Trust Group Inc. increased its position in shares of Aurora Innovation, Inc. (NASDAQ:AUR) by 57.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,796,952 shares of the company’s stock after buying an additional 1,753,757 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.28% of Aurora Innovation worth $30,221,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Bleakley Financial Group LLC purchased a new position in shares of Aurora Innovation during the fourth quarter valued at $90,000. Yousif Capital Management LLC bought a new stake in Aurora Innovation during the fourth quarter valued at about $65,000. GPS Wealth Strategies Group LLC boosted its position in Aurora Innovation by 241.7% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 7,005 shares of the company’s stock valued at $44,000 after purchasing an additional 4,955 shares in the last quarter. KBC Group NV boosted its position in Aurora Innovation by 41.9% during the fourth quarter. KBC Group NV now owns 37,034 shares of the company’s stock valued at $233,000 after purchasing an additional 10,942 shares in the last quarter. Finally, Grimes & Company Inc. bought a new stake in Aurora Innovation during the fourth quarter valued at about $63,000. Hedge funds and other institutional investors own 44.71% of the company’s stock.

Aurora Innovation Stock Down 10.3 %

Shares of NASDAQ:AUR opened at $7.00 on Wednesday. Aurora Innovation, Inc. has a 52-week low of $2.10 and a 52-week high of $9.83. The stock has a market cap of $12.03 billion, a price-to-earnings ratio of -14.29 and a beta of 2.85. The business has a 50-day moving average price of $7.01 and a 200-day moving average price of $5.78.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AUR shares. Cantor Fitzgerald started coverage on Aurora Innovation in a research report on Tuesday, December 10th. They set an “overweight” rating and a $10.00 price objective on the stock. The Goldman Sachs Group raised their price objective on Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a research report on Monday, November 4th. Canaccord Genuity Group raised their price target on Aurora Innovation from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Wolfe Research assumed coverage on Aurora Innovation in a report on Tuesday, November 26th. They issued a “peer perform” rating for the company. Finally, TD Cowen raised their price target on Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Aurora Innovation currently has a consensus rating of “Hold” and an average target price of $6.30.

Insider Transactions at Aurora Innovation

In other news, Director Reid Hoffman sold 537,837 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $5.48, for a total value of $2,947,346.76. Following the completion of the transaction, the director now directly owns 286,247 shares in the company, valued at $1,568,633.56. This trade represents a 65.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gloria R. Boyland sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $6.30, for a total value of $189,000.00. Following the completion of the transaction, the director now owns 344,647 shares of the company’s stock, valued at approximately $2,171,276.10. The trade was a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,014,883 shares of company stock worth $5,389,459 over the last three months. 13.83% of the stock is currently owned by insiders.

About Aurora Innovation

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.