Wolfe Research Initiates Coverage on Aurora Innovation (NASDAQ:AUR)

Wolfe Research began coverage on shares of Aurora Innovation (NASDAQ:AUR - Free Report) in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm issued a peer perform rating on the stock.

Other equities analysts also recently issued reports about the stock. TD Cowen lifted their price target on shares of Aurora Innovation from $3.00 to $4.00 and gave the company a "hold" rating in a report on Thursday, October 31st. 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. Evercore ISI raised their price target on Aurora Innovation from $3.00 to $5.00 and gave the company an "in-line" rating in a report on Monday, October 14th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $7.00 target price on shares of Aurora Innovation in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Aurora Innovation has a consensus rating of "Hold" and a consensus price target of $4.63.

Aurora Innovation Stock Down 5.1 %

Aurora Innovation stock traded down $0.33 during mid-day trading on Tuesday, hitting $6.12. 4,592,372 shares of the company were exchanged, compared to its average volume of 8,953,275. Aurora Innovation has a 1-year low of $2.06 and a 1-year high of $7.01. The business has a fifty day moving average of $5.78 and a 200 day moving average of $4.22. The company has a market capitalization of $10.52 billion, a PE ratio of -13.16 and a beta of 2.82.

Insider Activity at Aurora Innovation

In related news, Director Reid Hoffman sold 537,837 shares of the company's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $5.48, for a total value of $2,947,346.76. Following the completion of the sale, the director now owns 286,247 shares in the company, valued at approximately $1,568,633.56. This represents a 65.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold a total of 8,746,667 shares of company stock worth $48,243,337 over the last 90 days. Insiders own 13.83% of the company's stock.

Hedge Funds Weigh In On Aurora Innovation

Several institutional investors have recently modified their holdings of the stock. Baillie Gifford & Co. raised its position in shares of Aurora Innovation by 17.2% during the third quarter. Baillie Gifford & Co. now owns 84,904,647 shares of the company's stock worth $502,636,000 after purchasing an additional 12,466,085 shares during the period. Vanguard Group Inc. boosted its stake in Aurora Innovation by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 84,784,550 shares of the company's stock worth $239,092,000 after purchasing an additional 1,267,962 shares during the period. Geode Capital Management LLC increased its holdings in Aurora Innovation by 15.5% during the 3rd quarter. Geode Capital Management LLC now owns 22,796,526 shares of the company's stock worth $134,981,000 after purchasing an additional 3,064,342 shares in the last quarter. State Street Corp lifted its holdings in shares of Aurora Innovation by 15.2% in the third quarter. State Street Corp now owns 22,183,252 shares of the company's stock valued at $131,325,000 after purchasing an additional 2,920,653 shares in the last quarter. Finally, FMR LLC boosted its position 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 worth $81,983,000 after buying an additional 9,325,013 shares during the period. 44.71% of the stock is currently 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.