Aurora Innovation (NASDAQ:AUR) Trading Down 6.4% – Should You Sell?

Aurora Innovation, Inc. (NASDAQ:AUR)’s share price traded down 6.4% during trading on Wednesday . The stock traded as low as $8.94 and last traded at $8.86. 1,097,471 shares traded hands during trading, a decline of 93% from the average session volume of 16,360,346 shares. The stock had previously closed at $9.47.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. The Goldman Sachs Group increased their price objective on Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a research report on Monday, November 4th. TD Cowen lifted their price objective on Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Evercore ISI raised their target price on Aurora Innovation from $5.00 to $6.00 and gave the company an “in-line” rating in a research note on Tuesday. Wolfe Research began coverage on Aurora Innovation in a research note on Tuesday, November 26th. They issued a “peer perform” rating for the company. Finally, Canaccord Genuity Group lifted their price objective on Aurora Innovation from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.50.

Aurora Innovation Stock Down 5.3 %

The company has a fifty day simple moving average of $7.19 and a 200-day simple moving average of $5.94. The firm has a market cap of $15.41 billion, a P/E ratio of -19.03 and a beta of 2.85.

Aurora Innovation (NASDAQ:AUR) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.11) earnings per share (EPS) for the quarter. As a group, research analysts forecast that Aurora Innovation, Inc. will post -0.49 EPS for the current year.

Insider Activity

In other news, Director Gloria R. Boyland sold 30,000 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $6.30, for a total transaction of $189,000.00. Following the completion of the sale, the director now owns 344,647 shares in the company, valued at approximately $2,171,276.10. This represents a 8.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 13.83% of the company’s stock.

Hedge Funds Weigh In On Aurora Innovation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Uber Technologies Inc acquired a new stake in shares of Aurora Innovation during the 4th quarter valued at about $2,053,632,000. Toyota Motor Corp purchased a new stake in shares of Aurora Innovation during the 4th quarter valued at approximately $298,294,000. Baillie Gifford & Co. raised its position in shares of Aurora Innovation by 17.2% during the 3rd quarter. Baillie Gifford & Co. now owns 84,904,647 shares of the company’s stock valued at $502,636,000 after buying an additional 12,466,085 shares during the period. Lightspeed Management Company L.L.C. purchased a new stake in Aurora Innovation in the fourth quarter valued at approximately $74,003,000. Finally, FMR LLC raised its position in Aurora Innovation by 206.1% in 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 during the period. Hedge funds and other institutional investors own 44.71% of the company’s stock.

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.