Aurora Innovation (NASDAQ:AUR) Stock Price Up 3% – Time to Buy?

Aurora Innovation, Inc. (NASDAQ:AUR) shot up 3% on Monday . The company traded as high as $7.16 and last traded at $6.80. 9,567,935 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 13,758,352 shares. The stock had previously closed at $6.60.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Cantor Fitzgerald initiated coverage on Aurora Innovation in a report on Tuesday, December 10th. They issued an “overweight” rating and a $10.00 price objective for the company. 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 research report on Monday, October 14th. TD Cowen upped their target price on Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. The Goldman Sachs Group boosted their price target on Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a report on Monday, November 4th. Finally, Wolfe Research started coverage on Aurora Innovation in a research note on Tuesday, November 26th. They issued a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Aurora Innovation presently has a consensus rating of “Hold” and a consensus price target of $6.30.

Aurora Innovation Stock Up 3.0 %

The company has a market cap of $11.69 billion, a P/E ratio of -13.88 and a beta of 2.85. The firm’s 50 day moving average is $6.69 and its two-hundred day moving average is $5.42.

Insider Activity

In related news, Director Reid Hoffman sold 3,500,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $5.58, for a total transaction of $19,530,000.00. Following the transaction, the director now directly owns 382,425 shares of the company’s stock, valued at $2,133,931.50. This represents a 90.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gloria R. Boyland sold 30,000 shares of the company’s stock in a transaction dated 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 represents a 8.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,776,667 shares of company stock valued at $48,432,337. 13.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Aurora Innovation

A number of large investors have recently modified their holdings of AUR. Baillie Gifford & Co. raised its stake in shares of Aurora Innovation by 17.2% in the third 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 last quarter. Geode Capital Management LLC grew its stake in shares of Aurora Innovation by 15.5% in the 3rd quarter. Geode Capital Management LLC now owns 22,796,526 shares of the company’s stock worth $134,981,000 after acquiring an additional 3,064,342 shares in the last quarter. State Street Corp raised its holdings in shares of Aurora Innovation by 15.2% in the third quarter. State Street Corp now owns 22,183,252 shares of the company’s stock valued at $131,325,000 after purchasing an additional 2,920,653 shares during the last quarter. FMR LLC lifted its position in shares of Aurora Innovation by 206.1% during the third quarter. FMR LLC now owns 13,848,530 shares of the company’s stock valued at $81,983,000 after purchasing an additional 9,325,013 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Aurora Innovation by 23.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,337,429 shares of the company’s stock worth $36,941,000 after purchasing an additional 2,502,002 shares in the last quarter. 44.71% of the stock is currently owned by institutional investors.

Aurora Innovation Company 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.