Aurora Innovation (NASDAQ:AUR) Shares Down 2.2% – Here’s Why

Shares of Aurora Innovation, Inc. (NASDAQ:AUR) traded down 2.2% on Monday . The stock traded as low as $6.46 and last traded at $6.73. 2,662,534 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 17,196,816 shares. The stock had previously closed at $6.88.

Analyst Ratings Changes

AUR has been the topic of a number of research reports. Evercore ISI boosted their target price on shares of Aurora Innovation from $3.00 to $5.00 and gave the company an “in-line” rating in a report on Monday, October 14th. Wolfe Research started coverage on shares of Aurora Innovation in a research note on Tuesday, November 26th. They set a “peer perform” rating on the stock. Canaccord Genuity Group upped their price objective on shares of Aurora Innovation from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. TD Cowen lifted their target price on shares of Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group upped their price target on Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a research note 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 assigned a buy rating to the stock. Based on data from MarketBeat, Aurora Innovation presently has a consensus rating of “Hold” and a consensus price target of $6.30.

Aurora Innovation Trading Down 1.0 %

The company’s 50 day simple moving average is $6.87 and its 200-day simple moving average is $5.61. The firm has a market cap of $11.50 billion, a P/E ratio of -13.65 and a beta of 2.85.

Insider Buying and Selling at Aurora Innovation

In other news, Director Gloria R. Boyland sold 30,000 shares of Aurora Innovation stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $6.30, for a total transaction of $189,000.00. Following the transaction, the director now owns 344,647 shares in the company, valued at $2,171,276.10. This trade represents a 8.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Reid Hoffman sold 1,393,874 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 672,425 shares of the company’s stock, valued at $3,664,716.25. This represents a 67.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,776,667 shares of company stock worth $48,432,337. Insiders own 13.83% of the company’s stock.

Institutional Trading of Aurora Innovation

Hedge funds and other institutional investors have recently modified their holdings of the company. GPS Wealth Strategies Group LLC increased its stake in Aurora Innovation by 241.7% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 7,005 shares of the company’s stock worth $44,000 after buying an additional 4,955 shares in the last quarter. Profund Advisors LLC purchased a new stake in shares of Aurora Innovation during the second quarter worth about $46,000. Vanguard Personalized Indexing Management LLC bought a new stake in Aurora Innovation during the 2nd quarter valued at approximately $51,000. Souders Financial Advisors purchased a new position in Aurora Innovation in the 3rd quarter worth approximately $59,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Aurora Innovation in the 3rd quarter worth approximately $60,000. 44.71% of the stock is owned by hedge funds and other 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.