Raymond James Financial Inc. Makes New Investment in Aurora Innovation, Inc. (NASDAQ:AUR)

Raymond James Financial Inc. purchased a new stake in shares of Aurora Innovation, Inc. (NASDAQ:AUR) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 111,471 shares of the company’s stock, valued at approximately $702,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GPS Wealth Strategies Group LLC grew its position in Aurora Innovation by 241.7% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 7,005 shares of the company’s stock worth $44,000 after acquiring an additional 4,955 shares in the last quarter. Grimes & Company Inc. bought a new stake in Aurora Innovation during the fourth quarter worth about $63,000. Yousif Capital Management LLC purchased a new position in shares of Aurora Innovation in the 4th quarter worth about $65,000. Winebrenner Capital Management LLC bought a new position in shares of Aurora Innovation during the 4th quarter valued at about $70,000. Finally, Franklin Resources Inc. purchased a new position in shares of Aurora Innovation during the 3rd quarter valued at about $72,000. Hedge funds and other institutional investors own 44.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AUR. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of Aurora Innovation in a research note on Thursday, February 13th. TD Cowen initiated coverage on shares of Aurora Innovation in a report on Friday, March 7th. They set a “hold” rating and a $8.00 target price on the stock. Oppenheimer assumed coverage on shares of Aurora Innovation in a research note on Thursday, March 27th. They issued an “outperform” rating and a $15.00 price target for the company. Canaccord Genuity Group raised their price objective on Aurora Innovation from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Morgan Stanley started coverage on Aurora Innovation in a research note on Monday, March 3rd. They issued an “overweight” rating and a $12.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $9.07.

Aurora Innovation Trading Down 9.6 %

Shares of NASDAQ:AUR opened at $5.68 on Friday. The company has a 50-day moving average price of $7.23 and a 200-day moving average price of $6.65. The company has a market cap of $9.89 billion, a price-to-earnings ratio of -12.09 and a beta of 2.77. Aurora Innovation, Inc. has a 12 month low of $2.10 and a 12 month high of $10.77.

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

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.