Aurora Innovation (NASDAQ:AUR) Stock Price Down 4.7% – What’s Next?

Aurora Innovation, Inc. (NASDAQ:AUR) shares fell 4.7% during mid-day trading on Thursday . The company traded as low as $7.01 and last traded at $7.02. 774,313 shares traded hands during trading, a decline of 91% from the average session volume of 9,080,011 shares. The stock had previously closed at $7.37.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AUR shares. Canaccord Genuity Group reissued a “buy” rating and set a $7.00 price objective on shares of Aurora Innovation in a research note on Monday, September 30th. TD Cowen lifted their price target on shares of Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Wolfe Research began coverage on shares of Aurora Innovation in a report on Tuesday, November 26th. They issued a “peer perform” rating for the company. Evercore ISI lifted their target price on Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a report on Monday, October 14th. Finally, The Goldman Sachs Group boosted their target price on Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.70.

Aurora Innovation Stock Performance

The firm has a market capitalization of $11.98 billion, a P/E ratio of -14.22 and a beta of 2.86. The firm’s 50-day moving average is $6.14 and its 200 day moving average is $4.59.

Insider Transactions at Aurora Innovation

In other Aurora Innovation news, Director Gloria R. Boyland sold 30,000 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Reid Hoffman sold 3,500,000 shares of the company’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 sale, the director now owns 382,425 shares in the company, valued at approximately $2,133,931.50. This represents a 90.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,776,667 shares of company stock valued at $48,432,337 over the last three months. Company insiders own 13.83% of the company’s stock.

Hedge Funds Weigh In On Aurora Innovation

A number of institutional investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its holdings 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 worth $502,636,000 after buying an additional 12,466,085 shares during the period. Geode Capital Management LLC lifted its position in Aurora Innovation by 15.5% during the third 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 last quarter. State Street Corp boosted its holdings in shares of Aurora Innovation by 15.2% during the third quarter. State Street Corp now owns 22,183,252 shares of the company’s stock worth $131,325,000 after acquiring an additional 2,920,653 shares during the period. FMR LLC grew its position in shares of 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 last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Aurora Innovation by 23.1% during 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 during the last quarter. 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.