Brokerages Set Aurora Innovation, Inc. (NASDAQ:AUR) Target Price at $5.70

Aurora Innovation, Inc. (NASDAQ:AUR) has been assigned an average recommendation of “Hold” from the six analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $6.30.

Several equities analysts have recently issued reports on the company. Canaccord Genuity Group boosted their target price on Aurora Innovation from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday. Wolfe Research assumed coverage on shares of Aurora Innovation in a research note on Tuesday, November 26th. They issued a “peer perform” rating for the company. Evercore ISI lifted their price target on shares of Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. TD Cowen upped their price objective on shares of Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Finally, Cantor Fitzgerald started coverage on Aurora Innovation in a report on Tuesday, December 10th. They set an “overweight” rating and a $10.00 target price on the stock.

Aurora Innovation Stock Down 13.3 %

Shares of Aurora Innovation stock opened at $6.99 on Friday. The business has a fifty day simple moving average of $6.56 and a 200 day simple moving average of $5.22. The stock has a market cap of $12.01 billion, a PE ratio of -14.27 and a beta of 2.85. Aurora Innovation has a 12 month low of $2.10 and a 12 month high of $9.83.

Insider Buying and Selling

In other news, Director Reid Hoffman sold 537,837 shares of Aurora Innovation stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $5.48, for a total value of $2,947,346.76. Following the sale, the director now directly owns 286,247 shares in the company, valued at $1,568,633.56. This trade represents a 65.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the director now owns 344,647 shares of the company’s stock, valued at $2,171,276.10. The trade was a 8.01 % 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 ninety days. Company insiders own 13.83% of the company’s stock.

Hedge Funds Weigh In On Aurora Innovation

A number of large investors have recently modified their holdings of the business. Baillie Gifford & Co. increased its position in Aurora Innovation by 17.2% during the third quarter. Baillie Gifford & Co. now owns 84,904,647 shares of the company’s stock worth $502,636,000 after buying an additional 12,466,085 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 acquiring an additional 3,064,342 shares during the period. State Street Corp raised its stake in Aurora Innovation by 15.2% in the 3rd 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. FMR LLC raised its stake in 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 acquiring an additional 9,325,013 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Aurora Innovation by 23.1% during the second 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 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.