Canaccord Genuity Group Raises Aurora Innovation (NASDAQ:AUR) Price Target to $10.00

Aurora Innovation (NASDAQ:AUR - Free Report) had its price objective raised by Canaccord Genuity Group from $7.00 to $10.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts also recently weighed in on AUR. Evercore ISI raised their price target 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. TD Cowen raised their target price on shares of Aurora Innovation from $3.00 to $4.00 and gave the stock a "hold" rating in a research note on Thursday, October 31st. Wolfe Research began coverage on Aurora Innovation in a research report on Tuesday, November 26th. They issued a "peer perform" rating for the company. Cantor Fitzgerald assumed coverage on Aurora Innovation in a research report on Tuesday, December 10th. They set an "overweight" rating and a $10.00 price objective on the stock. Finally, The Goldman Sachs Group raised their target price on Aurora Innovation from $2.00 to $2.50 and gave the stock a "sell" rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $6.30.

Aurora Innovation Price Performance

NASDAQ AUR traded down $0.33 during mid-day trading on Wednesday, hitting $8.06. The stock had a trading volume of 22,669,394 shares, compared to its average volume of 30,253,902. The firm's 50 day moving average is $6.48 and its 200 day moving average is $5.18. The stock has a market capitalization of $13.85 billion, a price-to-earnings ratio of -16.45 and a beta of 2.85. Aurora Innovation has a twelve month low of $2.10 and a twelve month high of $9.83.

Insider Buying and Selling

In other news, Director Reid Hoffman sold 3,500,000 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $5.58, for a total value of $19,530,000.00. Following the transaction, the director now directly owns 382,425 shares in the company, valued at approximately $2,133,931.50. This represents a 90.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gloria R. Boyland sold 30,000 shares of Aurora Innovation stock in a transaction that occurred 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 completion of the sale, the director now owns 344,647 shares of the company's stock, valued at $2,171,276.10. This trade represents a 8.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,776,667 shares of company stock worth $48,432,337. Company insiders own 13.83% of the company's stock.

Hedge Funds Weigh In On Aurora Innovation

Several hedge funds have recently bought and sold shares of AUR. Baillie Gifford & Co. increased its stake in 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. Geode Capital Management LLC grew its holdings in shares of Aurora Innovation by 15.5% in 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 increased its stake in Aurora Innovation by 15.2% during the 3rd quarter. State Street Corp now owns 22,183,252 shares of the company's stock worth $131,325,000 after buying an additional 2,920,653 shares during the period. FMR LLC lifted its holdings in Aurora Innovation by 206.1% during the 3rd 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 in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Aurora Innovation by 23.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,337,429 shares of the company's stock valued at $36,941,000 after buying an additional 2,502,002 shares during the period. Institutional investors and hedge funds 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.