Aurora Innovation (NASDAQ:AUR) Shares Up 1.9% – Should You Buy?

Aurora Innovation, Inc. (NASDAQ:AUR) shares traded up 1.9% during mid-day trading on Wednesday . The company traded as high as $6.98 and last traded at $6.89. 4,033,302 shares were traded during mid-day trading, a decline of 75% from the average session volume of 16,413,875 shares. The stock had previously closed at $6.76.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Cantor Fitzgerald started coverage on Aurora Innovation in a research note on Tuesday, December 10th. They set an “overweight” rating and a $10.00 price target on the stock. Evercore ISI boosted their target price 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. The Goldman Sachs Group lifted their price target on shares of Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a report on Monday, November 4th. Canaccord Genuity Group increased their price objective on Aurora Innovation from $7.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, TD Cowen upped their price target on Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. One 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.30.

Aurora Innovation Trading Down 0.9 %

The firm has a 50-day moving average of $6.87 and a 200 day moving average of $5.61. The company has a market cap of $11.51 billion, a P/E ratio of -13.69 and a beta of 2.85.

Insider Transactions at Aurora Innovation

In other Aurora Innovation news, Director Reid Hoffman sold 1,393,874 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $5.45, for a total transaction of $7,596,613.30. Following the transaction, the director now directly owns 672,425 shares in the company, valued at approximately $3,664,716.25. This trade represents a 67.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gloria R. Boyland sold 30,000 shares of the firm’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 directly owns 344,647 shares in the company, valued at $2,171,276.10. The trade was a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,776,667 shares of company stock valued at $48,432,337 in the last quarter. 13.83% of the stock is currently owned by company insiders.

Institutional Trading of Aurora Innovation

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in Aurora Innovation by 40.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,380,479 shares of the company’s stock worth $8,172,000 after purchasing an additional 394,933 shares in the last quarter. Citigroup Inc. boosted its stake in Aurora Innovation by 229.4% during the third quarter. Citigroup Inc. now owns 705,181 shares of the company’s stock valued at $4,175,000 after buying an additional 491,125 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Aurora Innovation by 26.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,424,827 shares of the company’s stock valued at $49,875,000 after acquiring an additional 1,776,513 shares in the last quarter. Sterling Investment Advisors Ltd. purchased a new position in shares of Aurora Innovation during the third quarter worth about $1,184,000. Finally, State Street Corp increased its position 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 worth $131,325,000 after purchasing an additional 2,920,653 shares during 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.