Aurora Innovation (NASDAQ:AUR) Stock Price Up 1.9% – What’s Next?

Aurora Innovation, Inc. (NASDAQ:AUR)’s share price rose 1.9% during mid-day trading on Wednesday . The stock traded as high as $6.98 and last traded at $6.89. Approximately 4,033,302 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 16,413,875 shares. The stock had previously closed at $6.76.

Analyst Upgrades and Downgrades

Several research firms recently commented on AUR. Wolfe Research initiated coverage on shares of Aurora Innovation in a research report on Tuesday, November 26th. They set a “peer perform” rating on the stock. Cantor Fitzgerald initiated coverage on shares of Aurora Innovation in a report on Tuesday, December 10th. They set an “overweight” rating and a $10.00 price target on the stock. 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. Evercore ISI raised their target price on Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. Finally, TD Cowen upped their price target on Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $6.30.

Aurora Innovation Price Performance

The company’s 50-day moving average price is $6.90 and its two-hundred day moving average price is $5.62. The company has a market capitalization of $11.69 billion, a price-to-earnings ratio of -13.88 and a beta of 2.85.

Insiders Place Their Bets

In related news, Director Gloria R. Boyland sold 30,000 shares of the 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 transaction, the director now directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Reid Hoffman sold 3,500,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $5.58, for a total transaction of $19,530,000.00. Following the completion of the sale, the director now owns 382,425 shares of the company’s stock, valued at $2,133,931.50. The trade was a 90.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,776,667 shares of company stock worth $48,432,337. Company insiders own 13.83% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. CIBC Asset Management Inc grew its holdings in shares of Aurora Innovation by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 35,587 shares of the company’s stock valued at $224,000 after buying an additional 1,723 shares during the last quarter. Amalgamated Bank lifted its position in Aurora Innovation by 10.0% in the 3rd quarter. Amalgamated Bank now owns 32,006 shares of the company’s stock valued at $189,000 after acquiring an additional 2,913 shares in the last quarter. ASB Consultores LLC boosted its stake in Aurora Innovation by 24.0% during the 3rd quarter. ASB Consultores LLC now owns 15,955 shares of the company’s stock valued at $94,000 after purchasing an additional 3,088 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in Aurora Innovation by 14.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 31,779 shares of the company’s stock worth $188,000 after purchasing an additional 4,054 shares in the last quarter. Finally, Kingsview Wealth Management LLC raised its stake in shares of Aurora Innovation by 3.1% in the fourth quarter. Kingsview Wealth Management LLC now owns 136,408 shares of the company’s stock worth $859,000 after purchasing an additional 4,154 shares during the last quarter. 44.71% of the stock is 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.