Aurora Innovation (NASDAQ:AUR) Trading Down 8.4% – Here’s Why

Shares of Aurora Innovation, Inc. (NASDAQ:AUR) dropped 8.4% on Wednesday . The stock traded as low as $7.28 and last traded at $7.38. Approximately 7,662,718 shares changed hands during trading, a decline of 16% from the average daily volume of 9,160,759 shares. The stock had previously closed at $8.06.

Analyst Ratings Changes

AUR has been the subject of several recent research reports. Cantor Fitzgerald began coverage on shares of Aurora Innovation in a research report on Tuesday, December 10th. They issued an “overweight” rating and a $10.00 price target for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $7.00 price target on shares of Aurora Innovation in a research report on Monday, September 30th. Evercore ISI lifted their price target on shares of Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. Wolfe Research started coverage on shares of Aurora Innovation in a research report on Tuesday, November 26th. They issued a “peer perform” rating on the stock. Finally, The Goldman Sachs Group lifted their price objective on shares of Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Aurora Innovation presently has a consensus rating of “Hold” and an average price target of $5.70.

Aurora Innovation Price Performance

The stock has a 50-day moving average price of $6.31 and a 200 day moving average price of $4.73. The firm has a market cap of $12.36 billion, a PE ratio of -14.67 and a beta of 2.86.

Insider Activity at Aurora Innovation

In other Aurora Innovation news, Director Gloria R. Boyland sold 30,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $6.30, for a total transaction of $189,000.00. Following the completion of the transaction, the director now owns 344,647 shares in the company, valued at approximately $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 can be accessed through this link. Also, Director Reid Hoffman sold 1,393,874 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $5.45, for a total value of $7,596,613.30. Following the transaction, the director now directly owns 672,425 shares in the company, valued at $3,664,716.25. This trade represents a 67.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,776,667 shares of company stock valued at $48,432,337. Insiders own 13.83% of the company’s stock.

Institutional Trading of Aurora Innovation

A number of large investors have recently added to or reduced their stakes in the business. Amalgamated Bank lifted its position in shares of Aurora Innovation by 10.0% in the third quarter. Amalgamated Bank now owns 32,006 shares of the company’s stock worth $189,000 after purchasing an additional 2,913 shares in the last quarter. ASB Consultores LLC grew its holdings in shares of Aurora Innovation by 24.0% during the 3rd quarter. ASB Consultores LLC now owns 15,955 shares of the company’s stock valued at $94,000 after acquiring an additional 3,088 shares in the last quarter. Glenmede Trust Co. NA increased its stake in shares of Aurora Innovation by 14.6% in the third quarter. Glenmede Trust Co. NA now owns 31,779 shares of the company’s stock worth $188,000 after acquiring an additional 4,054 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Aurora Innovation by 32.0% during the second quarter. Nisa Investment Advisors LLC now owns 19,412 shares of the company’s stock valued at $54,000 after purchasing an additional 4,702 shares during the last quarter. Finally, KBC Group NV grew its stake in Aurora Innovation by 41.1% in the third quarter. KBC Group NV now owns 26,092 shares of the company’s stock valued at $154,000 after purchasing an additional 7,595 shares in the last quarter. 44.71% of the stock is currently owned by institutional investors.

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.