Aurora Innovation (NASDAQ:AUR) Trading Down 6.1% - Time to Sell?

Shares of Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) were down 6.1% during trading on Monday . The stock traded as low as $6.46 and last traded at $6.52. Approximately 2,654,240 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 9,157,833 shares. The stock had previously closed at $6.94.

Analyst Upgrades and Downgrades

AUR has been the topic of a number of research analyst reports. Cantor Fitzgerald initiated coverage on Aurora Innovation in a research report on Tuesday, December 10th. They issued an "overweight" rating and a $10.00 target price on the stock. Wolfe Research began coverage on Aurora Innovation in a report on Tuesday, November 26th. They set a "peer perform" rating on the stock. The Goldman Sachs Group raised their target price on shares of Aurora Innovation from $2.00 to $2.50 and gave the company a "sell" rating in a report on Monday, November 4th. Evercore ISI upped their price target on shares of Aurora Innovation from $3.00 to $5.00 and gave the company an "in-line" rating in a research note 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 report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Aurora Innovation has a consensus rating of "Hold" and a consensus price target of $5.70.

Aurora Innovation Stock Performance

The company has a market cap of $11.12 billion, a P/E ratio of -13.20 and a beta of 2.86. The business's fifty day moving average is $6.44 and its two-hundred day moving average is $5.00.

Insider Activity at Aurora Innovation

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

Institutional Trading of Aurora Innovation

A number of institutional investors have recently made changes to their positions in the business. Baillie Gifford & Co. boosted its stake in Aurora Innovation by 17.2% in the 3rd 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 in 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 valued at $81,983,000 after buying an additional 9,325,013 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Aurora Innovation by 273.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,190,426 shares of the company's stock valued at $14,377,000 after acquiring an additional 3,800,901 shares during the period. Geode Capital Management LLC raised its stake in Aurora Innovation by 15.5% in the 3rd quarter. Geode Capital Management LLC now owns 22,796,526 shares of the company's stock worth $134,981,000 after acquiring an additional 3,064,342 shares during the last quarter. Finally, State Street Corp lifted its position 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 acquiring an additional 2,920,653 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.