Aurora Innovation (NASDAQ:AUR) Stock Price Down 6.4% - What's Next?

Shares of Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) fell 6.4% during mid-day trading on Wednesday . The company traded as low as $8.94 and last traded at $8.86. 1,097,471 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 16,360,346 shares. The stock had previously closed at $9.47.

Analysts Set New Price Targets

A number of equities analysts have commented on AUR shares. The Goldman Sachs Group lifted their target price on shares of 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 lifted their target price on shares of Aurora Innovation from $7.00 to $10.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. 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 note on Thursday, October 31st. Wolfe Research assumed coverage on shares of Aurora Innovation in a research note on Tuesday, November 26th. They set a "peer perform" rating on the stock. Finally, Evercore ISI increased their price target on Aurora Innovation from $5.00 to $6.00 and gave the stock an "in-line" rating in a report on Tuesday. One investment 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. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $6.50.

Aurora Innovation Stock Down 10.6 %

The company has a market cap of $12.76 billion, a PE ratio of -15.80 and a beta of 2.85. The business has a 50-day simple moving average of $7.29 and a 200-day simple moving average of $6.04.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported ($0.11) earnings per share (EPS) for the quarter. As a group, equities research analysts predict that Aurora Innovation, Inc. will post -0.49 EPS for the current fiscal year.

Insider Activity

In other Aurora Innovation news, Director Gloria R. Boyland sold 30,000 shares of the company's stock in a transaction dated 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 $2,171,276.10. This represents a 8.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 13.83% of the company's stock.

Institutional Investors Weigh In On Aurora Innovation

Several large investors have recently bought and sold shares of the stock. Uber Technologies Inc acquired a new stake in Aurora Innovation in the fourth quarter valued at $2,053,632,000. Toyota Motor Corp purchased a new position in shares of Aurora Innovation in the 4th quarter valued at about $298,294,000. Baillie Gifford & Co. raised its position in shares of 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 in the last quarter. Lightspeed Management Company L.L.C. purchased a new stake in Aurora Innovation during the fourth quarter worth approximately $74,003,000. Finally, FMR LLC boosted its holdings in Aurora Innovation by 206.1% in the third quarter. FMR LLC now owns 13,848,530 shares of the company's stock valued at $81,983,000 after purchasing an additional 9,325,013 shares in the last quarter. Hedge funds and other institutional investors 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.