Aurora Innovation, Inc. (NASDAQ:AUR) Sees Large Decrease in Short Interest

Aurora Innovation, Inc. (NASDAQ:AUR) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 83,910,000 shares, a drop of 6.4% from the October 15th total of 89,600,000 shares. Based on an average daily trading volume, of 8,710,000 shares, the short-interest ratio is currently 9.6 days. Currently, 8.9% of the company’s stock are sold short.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Evercore ISI boosted their price target on shares of Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a report on Monday, October 14th. Canaccord Genuity Group reissued a “buy” rating and set a $7.00 target price on shares of Aurora Innovation in a research report on Monday, September 30th. 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 note on Thursday, October 31st. Finally, The Goldman Sachs Group upped their price objective on Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a research note on Monday, November 4th.

Aurora Innovation Stock Up 1.5 %

Shares of NASDAQ:AUR opened at $6.24 on Wednesday. The firm has a market capitalization of $10.72 billion, a PE ratio of -12.73 and a beta of 2.82. The company has a 50-day moving average price of $5.63 and a two-hundred day moving average price of $4.12. Aurora Innovation has a twelve month low of $2.06 and a twelve month high of $7.01.

Insider Buying and Selling at Aurora Innovation

In other Aurora Innovation news, Director Reid Hoffman sold 3,500,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $5.58, for a total value of $19,530,000.00. Following the completion of the transaction, the director now owns 382,425 shares in the company, valued at $2,133,931.50. This represents a 90.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 8,746,667 shares of company stock worth $48,243,337. Insiders own 13.83% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. boosted its stake in Aurora Innovation by 17.2% in the 3rd quarter. Baillie Gifford & Co. now owns 84,904,647 shares of the company’s stock worth $502,636,000 after purchasing an additional 12,466,085 shares during the period. Vanguard Group Inc. boosted its position in shares of Aurora Innovation by 1.5% in the first quarter. Vanguard Group Inc. now owns 84,784,550 shares of the company’s stock valued at $239,092,000 after acquiring an additional 1,267,962 shares during the period. Geode Capital Management LLC boosted its position in shares of Aurora Innovation by 15.5% in the third quarter. Geode Capital Management LLC now owns 22,796,526 shares of the company’s stock valued at $134,981,000 after acquiring an additional 3,064,342 shares during the period. State Street Corp grew its stake in Aurora Innovation by 15.2% during the third quarter. State Street Corp now owns 22,183,252 shares of the company’s stock valued at $131,325,000 after acquiring an additional 2,920,653 shares in the last quarter. Finally, FMR LLC increased its holdings in Aurora Innovation by 206.1% during the 3rd quarter. FMR LLC now owns 13,848,530 shares of the company’s stock worth $81,983,000 after acquiring an additional 9,325,013 shares during the period. 44.71% of the stock is 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.