Franklin Resources Inc. Makes New Investment in Aurora Innovation, Inc. (NASDAQ:AUR)

Franklin Resources Inc. purchased a new stake in Aurora Innovation, Inc. (NASDAQ:AUR) during the third quarter, Holdings Channel reports. The firm purchased 12,354 shares of the company’s stock, valued at approximately $72,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Souders Financial Advisors purchased a new stake in shares of Aurora Innovation during the third quarter worth about $59,000. Dynamic Technology Lab Private Ltd acquired a new stake in Aurora Innovation in the 3rd quarter worth approximately $60,000. Reynders McVeigh Capital Management LLC purchased a new stake in Aurora Innovation during the 3rd quarter worth approximately $63,000. Sigma Planning Corp acquired a new position in Aurora Innovation during the 3rd quarter valued at approximately $63,000. Finally, Abel Hall LLC purchased a new position in shares of Aurora Innovation in the third quarter worth $88,000. Hedge funds and other institutional investors own 44.71% of the company’s stock.

Aurora Innovation Stock Down 3.2 %

Aurora Innovation stock opened at $6.10 on Friday. Aurora Innovation, Inc. has a 52 week low of $2.10 and a 52 week high of $8.44. The firm has a market cap of $10.48 billion, a price-to-earnings ratio of -12.45 and a beta of 2.86. The business’s 50-day moving average price is $6.45 and its 200 day moving average price is $5.04.

Wall Street Analysts Forecast Growth

AUR has been the topic of several research reports. Cantor Fitzgerald began coverage on Aurora Innovation in a research report on Tuesday, December 10th. They issued an “overweight” rating and a $10.00 target price on the stock. Evercore ISI increased their price objective on Aurora Innovation from $3.00 to $5.00 and gave the company an “in-line” rating in a report on Monday, October 14th. Canaccord Genuity Group restated a “buy” rating and issued a $7.00 price objective on shares of Aurora Innovation in a research note on Monday, September 30th. Wolfe Research began coverage on shares of Aurora Innovation in a report on Tuesday, November 26th. They issued a “peer perform” rating on the stock. Finally, TD Cowen raised their price target on shares of Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Aurora Innovation has a consensus rating of “Hold” and an average price target of $5.70.

Insider Activity

In related news, Director Gloria R. Boyland sold 30,000 shares of the company’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. This represents a 8.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Reid Hoffman sold 447,046 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $5.04, for a total value of $2,253,111.84. Following the completion of the sale, the director now directly owns 26,892 shares in the company, valued at approximately $135,535.68. The trade was a 94.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,776,667 shares of company stock valued at $48,432,337 in the last three months. 13.83% of the stock is currently owned by corporate insiders.

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.