Aurora Innovation (NASDAQ:AUR) Stock Price Down 1.1% – Should You Sell?

Aurora Innovation, Inc. (NASDAQ:AUR) shares fell 1.1% on Thursday . The stock traded as low as $6.75 and last traded at $6.89. 3,592,808 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 18,247,104 shares. The stock had previously closed at $6.97.

Analysts Set New Price Targets

Several research firms have recently issued reports on AUR. TD Cowen raised their price objective on Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Cantor Fitzgerald started coverage on shares of Aurora Innovation in a research note on Tuesday, December 10th. They set an “overweight” rating and a $10.00 price objective for the company. The Goldman Sachs Group boosted their target price on shares of Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a report on Monday, November 4th. Evercore ISI increased 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 note on Monday, October 14th. Finally, Wolfe Research assumed coverage on shares of Aurora Innovation in a research note on Tuesday, November 26th. They set a “peer perform” rating for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.30.

Aurora Innovation Price Performance

The business’s 50-day simple moving average is $6.86 and its two-hundred day simple moving average is $5.53. The stock has a market capitalization of $11.82 billion, a price-to-earnings ratio of -14.04 and a beta of 2.85.

Insider Activity at Aurora Innovation

In other Aurora Innovation news, Director Gloria R. Boyland sold 30,000 shares of the company’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 value of $189,000.00. Following the completion of the transaction, the director now owns 344,647 shares in the company, valued at $2,171,276.10. This represents a 8.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Reid Hoffman sold 447,046 shares of Aurora Innovation stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $5.04, for a total transaction of $2,253,111.84. Following the sale, the director now owns 26,892 shares in the company, valued at $135,535.68. This represents a 94.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,776,667 shares of company stock worth $48,432,337. 13.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Aurora Innovation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in Aurora Innovation by 23.1% in the second quarter. Dimensional Fund Advisors LP now owns 13,337,429 shares of the company’s stock valued at $36,941,000 after purchasing an additional 2,502,002 shares during the last quarter. Amalgamated Bank raised its holdings in Aurora Innovation by 151.9% in the second quarter. Amalgamated Bank now owns 29,093 shares of the company’s stock valued at $81,000 after acquiring an additional 17,543 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in Aurora Innovation in the second quarter valued at $51,000. Public Employees Retirement Association of Colorado acquired a new position in Aurora Innovation during the 2nd quarter worth $214,000. Finally, Profund Advisors LLC acquired a new position in Aurora Innovation during the 2nd quarter worth $46,000. 44.71% of the stock is owned by hedge funds and other 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.