Aurora Innovation (NASDAQ:AUR) Trading Up 0.8% – Here’s Why

Aurora Innovation, Inc. (NASDAQ:AUR) shares rose 0.8% on Wednesday . The company traded as high as $7.07 and last traded at $6.96. Approximately 1,382,755 shares were traded during trading, a decline of 91% from the average daily volume of 15,338,833 shares. The stock had previously closed at $6.91.

Wall Street Analysts Forecast Growth

AUR has been the topic of a number of research reports. The Goldman Sachs Group lifted their target price on shares of Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a research note on Monday, November 4th. Wolfe Research began coverage on shares of Aurora Innovation in a research note on Tuesday, November 26th. They set a “peer perform” rating on the stock. Cantor Fitzgerald began 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 on the stock. Evercore ISI boosted their price objective 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, Canaccord Genuity Group boosted their price objective on shares of Aurora Innovation from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Aurora Innovation currently has an average rating of “Hold” and a consensus price target of $6.30.

Aurora Innovation Price Performance

The firm has a market capitalization of $12.37 billion, a P/E ratio of -14.69 and a beta of 2.85. The company’s 50-day simple moving average is $6.96 and its two-hundred day simple moving average is $5.71.

Insiders Place Their Bets

In related news, Director Reid Hoffman sold 1,181,400 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $5.60, for a total transaction of $6,615,840.00. Following the completion of the transaction, the director now directly owns 125,000 shares of the company’s stock, valued at approximately $700,000. This trade represents a 90.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gloria R. Boyland sold 30,000 shares of the firm’s 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. The trade was a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,053,080 shares of company stock worth $16,709,114. Company insiders own 13.83% of the company’s stock.

Hedge Funds Weigh In On Aurora Innovation

Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its stake in shares of Aurora Innovation by 40.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,380,479 shares of the company’s stock worth $8,172,000 after buying an additional 394,933 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of Aurora Innovation by 229.4% in the 3rd quarter. Citigroup Inc. now owns 705,181 shares of the company’s stock worth $4,175,000 after acquiring an additional 491,125 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Aurora Innovation by 26.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,424,827 shares of the company’s stock worth $49,875,000 after acquiring an additional 1,776,513 shares during the last quarter. Sterling Investment Advisors Ltd. bought a new stake in shares of Aurora Innovation in the 3rd quarter worth about $1,184,000. Finally, State Street Corp lifted its holdings 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 acquiring an additional 2,920,653 shares during the last quarter. 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.