Aurora Innovation (NASDAQ:AUR) Trading Down 2.2% - Should You Sell?

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s stock price traded down 2.2% on Monday . The stock traded as low as $6.46 and last traded at $6.73. 2,662,534 shares changed hands during trading, a decline of 85% from the average session volume of 17,196,816 shares. The stock had previously closed at $6.88.

Analysts Set New Price Targets

Several research analysts have commented on AUR shares. Cantor Fitzgerald initiated coverage on Aurora Innovation in a research report on Tuesday, December 10th. They issued an "overweight" rating and a $10.00 price target on the stock. Wolfe Research began coverage on shares of Aurora Innovation in a research report on Tuesday, November 26th. They set a "peer perform" rating on the stock. Canaccord Genuity Group upped their target price on shares of Aurora Innovation from $7.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. TD Cowen raised their price target 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. Finally, The Goldman Sachs Group upped their price objective on shares of Aurora Innovation from $2.00 to $2.50 and gave the company a "sell" rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Aurora Innovation currently has a consensus rating of "Hold" and an average target price of $6.30.

Aurora Innovation Price Performance

The stock has a market cap of $11.69 billion, a price-to-earnings ratio of -13.88 and a beta of 2.85. The stock's 50 day simple moving average is $6.91 and its two-hundred day simple moving average is $5.64.

Insider Activity at Aurora Innovation

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. grew its position in Aurora Innovation by 17.2% during the 3rd quarter. Baillie Gifford & Co. now owns 84,904,647 shares of the company's stock worth $502,636,000 after acquiring an additional 12,466,085 shares during the last quarter. FMR LLC grew its holdings 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 purchasing an additional 9,325,013 shares during the last quarter. Geode Capital Management LLC increased its stake 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 buying an additional 3,064,342 shares in the last quarter. State Street Corp increased its stake 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 buying an additional 2,920,653 shares in the last quarter. Finally, ARK Investment Management LLC bought a new position in shares of Aurora Innovation in the third quarter valued at about $12,433,000. 44.71% of the stock is owned by 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.