Aurora Innovation (NASDAQ:AUR) Shares Down 2.2% – Here’s What Happened

Aurora Innovation, Inc. (NASDAQ:AUR) fell 2.2% during mid-day trading on Monday . The stock traded as low as $6.46 and last traded at $6.73. 2,662,534 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 17,196,816 shares. The stock had previously closed at $6.88.

Analyst Ratings Changes

AUR has been the subject of several recent analyst reports. Wolfe Research began coverage on Aurora Innovation in a report on Tuesday, November 26th. They issued a “peer perform” rating for the company. Cantor Fitzgerald assumed coverage on shares of Aurora Innovation in a research note on Tuesday, December 10th. They issued an “overweight” rating and a $10.00 target price on the stock. Canaccord Genuity Group lifted their price target on shares of Aurora Innovation from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. 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 report on Monday, November 4th. Finally, TD Cowen increased their target price 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Aurora Innovation has a consensus rating of “Hold” and a consensus target price of $6.30.

Aurora Innovation Stock Performance

The firm has a 50 day simple moving average of $6.86 and a 200 day simple moving average of $5.57. The firm has a market cap of $11.08 billion, a P/E ratio of -13.15 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 sale, the director now owns 344,647 shares of the company’s stock, valued at $2,171,276.10. This represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Reid Hoffman sold 3,500,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $5.58, for a total transaction of $19,530,000.00. Following the sale, the director now directly owns 382,425 shares of the company’s stock, valued at $2,133,931.50. The trade was a 90.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,776,667 shares of company stock valued at $48,432,337. Corporate insiders own 13.83% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. increased its stake in shares of Aurora Innovation by 17.2% in the 3rd quarter. Baillie Gifford & Co. now owns 84,904,647 shares of the company’s stock worth $502,636,000 after acquiring an additional 12,466,085 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Aurora Innovation by 15.5% during the third quarter. Geode Capital Management LLC now owns 22,796,526 shares of the company’s stock valued at $134,981,000 after purchasing an additional 3,064,342 shares in the last quarter. State Street Corp boosted its position in shares of Aurora Innovation by 15.2% in the 3rd quarter. State Street Corp now owns 22,183,252 shares of the company’s stock worth $131,325,000 after purchasing an additional 2,920,653 shares in the last quarter. FMR LLC increased its holdings in shares of Aurora Innovation by 206.1% during the third 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 in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Aurora Innovation by 23.1% in 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 in the last quarter. Hedge funds and other institutional investors own 44.71% of the company’s stock.

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.