Aurora Innovation (NASDAQ:AUR) Trading Up 8.7% – Should You Buy?

Aurora Innovation, Inc. (NASDAQ:AUR) shares rose 8.7% during mid-day trading on Wednesday . The company traded as high as $7.00 and last traded at $6.97. Approximately 3,062,725 shares were traded during trading, a decline of 86% from the average daily volume of 22,029,111 shares. The stock had previously closed at $6.41.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on AUR shares. Cantor Fitzgerald assumed coverage on shares of Aurora Innovation in a research report on Tuesday, December 10th. They set an “overweight” rating and a $10.00 target price for the company. The Goldman Sachs Group increased their price target on shares of Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a research note on Monday, November 4th. TD Cowen raised their price objective on Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Wolfe Research initiated coverage on Aurora Innovation in a research report on Tuesday, November 26th. They set a “peer perform” rating on the stock. Finally, Evercore ISI raised their price target 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.30.

Aurora Innovation Trading Up 8.1 %

The firm has a market cap of $11.91 billion, a PE ratio of -14.14 and a beta of 2.85. The firm’s 50 day simple moving average is $6.63 and its 200 day simple moving average is $5.34.

Insider Transactions at Aurora Innovation

In other news, Director Reid Hoffman sold 447,046 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $5.04, for a total value of $2,253,111.84. Following the completion of the transaction, the director now directly owns 26,892 shares in the company, valued at $135,535.68. This trade represents a 94.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gloria R. Boyland sold 30,000 shares of the 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 sale, the director now directly owns 344,647 shares in the company, valued at $2,171,276.10. This represents a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,776,667 shares of company stock worth $48,432,337. 13.83% of the stock is currently owned by insiders.

Institutional Trading of Aurora Innovation

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers boosted its stake in shares of Aurora Innovation by 114.7% in the second quarter. Rhumbline Advisers now owns 1,160,176 shares of the company’s stock worth $3,214,000 after acquiring an additional 619,791 shares during the last quarter. Victory Capital Management Inc. grew its stake in Aurora Innovation by 8.1% during the 2nd quarter. Victory Capital Management Inc. now owns 102,199 shares of the company’s stock valued at $283,000 after acquiring an additional 7,624 shares in the last quarter. Arizona State Retirement System raised its holdings in Aurora Innovation by 5.2% in the 2nd quarter. Arizona State Retirement System now owns 198,559 shares of the company’s stock valued at $550,000 after acquiring an additional 9,903 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Aurora Innovation by 23.1% in the second quarter. Dimensional Fund Advisors LP now owns 13,337,429 shares of the company’s stock valued at $36,941,000 after purchasing an additional 2,502,002 shares in the last quarter. Finally, Citizens Financial Group Inc. RI acquired a new position in Aurora Innovation during the second quarter worth $67,000. 44.71% of the stock is owned by institutional investors and hedge funds.

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.