Aurora Innovation (NASDAQ:AUR) Trading Down 4.4% – Time to Sell?

Aurora Innovation, Inc. (NASDAQ:AUR)’s stock price was down 4.4% during mid-day trading on Monday . The company traded as low as $6.51 and last traded at $6.52. Approximately 2,806,212 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 6,406,066 shares. The stock had previously closed at $6.82.

Analyst Ratings Changes

Several analysts have issued reports on AUR shares. Evercore ISI upped their price objective on Aurora Innovation from $3.00 to $5.00 and gave the company an “in-line” rating in a research note on Monday, October 14th. The Goldman Sachs Group lifted their price objective 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 reissued a “buy” rating and set a $7.00 target price on shares of Aurora Innovation in a report on Monday, September 30th. Cantor Fitzgerald assumed coverage on Aurora Innovation in a research note on Tuesday, December 10th. They set an “overweight” rating and a $10.00 price objective for the company. Finally, TD Cowen raised their price target on Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.70.

Aurora Innovation Trading Down 5.0 %

The firm’s fifty day moving average price is $6.45 and its 200 day moving average price is $5.09. The firm has a market capitalization of $11.14 billion, a PE ratio of -13.22 and a beta of 2.86.

Insider Buying and Selling at Aurora Innovation

In related news, Director Gloria R. Boyland sold 30,000 shares of the company’s 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 completion of the sale, the director now directly owns 344,647 shares of the company’s stock, valued at approximately $2,171,276.10. This represents a 8.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Reid Hoffman sold 3,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $5.58, for a total value of $19,530,000.00. Following the transaction, the director now owns 382,425 shares of the company’s stock, valued at $2,133,931.50. This trade represents a 90.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,776,667 shares of company stock worth $48,432,337 over the last three months. Corporate insiders own 13.83% of the company’s stock.

Hedge Funds Weigh In On Aurora Innovation

Several large investors have recently bought and sold shares of AUR. Baillie Gifford & Co. grew its holdings in Aurora Innovation by 17.2% during the third quarter. Baillie Gifford & Co. now owns 84,904,647 shares of the company’s stock valued at $502,636,000 after purchasing an additional 12,466,085 shares during the period. FMR LLC grew its holdings in shares of Aurora Innovation by 206.1% in the 3rd quarter. FMR LLC now owns 13,848,530 shares of the company’s stock valued at $81,983,000 after buying an additional 9,325,013 shares during the period. Bank of New York Mellon Corp raised its stake in Aurora Innovation by 273.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,190,426 shares of the company’s stock worth $14,377,000 after buying an additional 3,800,901 shares during the period. Geode Capital Management LLC raised its stake in Aurora Innovation by 15.5% during the 3rd quarter. Geode Capital Management LLC now owns 22,796,526 shares of the company’s stock worth $134,981,000 after buying an additional 3,064,342 shares during the period. Finally, State Street Corp grew its stake in 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 acquiring an additional 2,920,653 shares during the period. 44.71% of the stock is currently 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.