Aurora Innovation (NASDAQ:AUR) Hits New 52-Week High - Time to Buy?

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $9.83 and last traded at $9.47, with a volume of 37315027 shares traded. The stock had previously closed at $6.50.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. TD Cowen lifted their target price on shares of Aurora Innovation from $3.00 to $4.00 and gave the stock a "hold" rating in a research report on Thursday, October 31st. Wolfe Research initiated coverage on Aurora Innovation in a research note on Tuesday, November 26th. They set a "peer perform" rating for the company. The Goldman Sachs Group raised their price target on Aurora Innovation from $2.00 to $2.50 and gave the stock a "sell" rating in a research note on Monday, November 4th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $7.00 target price on shares of Aurora Innovation in a research report on Monday, September 30th. Finally, Cantor Fitzgerald assumed coverage on shares of Aurora Innovation in a report on Tuesday, December 10th. They set an "overweight" rating and a $10.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $5.70.

Aurora Innovation Trading Up 29.1 %

The firm has a market cap of $14.42 billion, a PE ratio of -17.12 and a beta of 2.85. The firm has a fifty day moving average price of $6.48 and a 200 day moving average price of $5.18.

Insider Activity

In other Aurora Innovation news, Director Gloria R. Boyland sold 30,000 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $6.30, for a total transaction of $189,000.00. Following the sale, the director now owns 344,647 shares in the company, valued at approximately $2,171,276.10. This represents a 8.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Reid Hoffman sold 3,500,000 shares of Aurora Innovation stock in a transaction dated 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 sale, the director now owns 382,425 shares of the company's stock, valued at approximately $2,133,931.50. This trade represents a 90.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,776,667 shares of company stock worth $48,432,337. 13.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Aurora Innovation

A number of hedge funds have recently made changes to their positions in the stock. Everence Capital Management Inc. purchased a new stake in Aurora Innovation during the 4th quarter worth approximately $164,000. JPMorgan Chase & Co. boosted its stake in Aurora Innovation by 40.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,380,479 shares of the company's stock valued at $8,172,000 after purchasing an additional 394,933 shares during the period. Franklin Resources Inc. acquired a new stake in Aurora Innovation in the 3rd quarter valued at approximately $72,000. Virtu Financial LLC bought a new stake in shares of Aurora Innovation during the third quarter valued at about $337,000. Finally, Geode Capital Management LLC increased its stake in shares of Aurora Innovation by 15.5% during the third quarter. Geode Capital Management LLC now owns 22,796,526 shares of the company's stock valued at $134,981,000 after acquiring an additional 3,064,342 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.