Aurora Innovation (NASDAQ:AUR) Reaches New 1-Year High – Still a Buy?

Aurora Innovation, Inc. (NASDAQ:AUR) shares reached a new 52-week high during trading on Friday . The stock traded as high as $10.37 and last traded at $10.59, with a volume of 9171235 shares. The stock had previously closed at $9.42.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AUR shares. Wolfe Research initiated coverage on Aurora Innovation in a report on Tuesday, November 26th. They issued a “peer perform” rating for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 target price on shares of Aurora Innovation in a report on Thursday. The Goldman Sachs Group upped their price target on shares of Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a research report on Monday, November 4th. Canaccord Genuity Group lifted their price objective on shares of Aurora Innovation from $7.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, TD Cowen upped their target price on Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Aurora Innovation currently has a consensus rating of “Hold” and a consensus price target of $6.30.

Aurora Innovation Stock Performance

The stock has a market cap of $17.51 billion, a P/E ratio of -20.80 and a beta of 2.85. The firm’s 50 day moving average is $7.14 and its 200 day moving average is $5.88.

Aurora Innovation (NASDAQ:AUR) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.11) earnings per share for the quarter. As a group, analysts expect that Aurora Innovation, Inc. will post -0.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other Aurora Innovation news, Director Reid Hoffman sold 537,837 shares of Aurora Innovation stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $5.48, for a total transaction of $2,947,346.76. Following the completion of the sale, the director now owns 286,247 shares of the company’s stock, valued at approximately $1,568,633.56. The trade was a 65.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gloria R. Boyland sold 30,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $6.30, for a total value of $189,000.00. Following the sale, the director now owns 344,647 shares in the company, valued at approximately $2,171,276.10. The trade was a 8.01 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 13.83% of the company’s stock.

Institutional Investors Weigh In On Aurora Innovation

A number of institutional investors and hedge funds have recently modified their holdings of AUR. Uber Technologies Inc purchased a new position in Aurora Innovation during the 4th quarter worth approximately $2,053,632,000. Baillie Gifford & Co. lifted its position in Aurora Innovation by 17.2% during the third quarter. Baillie Gifford & Co. now owns 84,904,647 shares of the company’s stock valued at $502,636,000 after purchasing an additional 12,466,085 shares during the period. FMR LLC boosted its holdings in 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. Norges Bank acquired a new stake in Aurora Innovation during the 4th quarter worth about $45,772,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Aurora Innovation by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,671,319 shares of the company’s stock valued at $168,030,000 after buying an additional 3,237,609 shares during the last quarter. Institutional investors and hedge funds own 44.71% of the company’s stock.

Aurora Innovation Company Profile

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.