Aurora Innovation (NASDAQ:AUR) Trading Down 8.1% - Should You Sell?

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) shares dropped 8.1% during trading on Tuesday . The stock traded as low as $5.09 and last traded at $5.10. Approximately 1,694,545 shares changed hands during trading, a decline of 80% from the average daily volume of 8,637,591 shares. The stock had previously closed at $5.55.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AUR shares. The Goldman Sachs Group upped their price objective on Aurora Innovation from $2.00 to $2.50 and gave the stock a "sell" rating in a research note on Monday. Evercore ISI raised 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. Canaccord Genuity Group reissued a "buy" rating and issued a $7.00 price target on shares of Aurora Innovation in a research note on Monday, September 30th. Finally, TD Cowen upped their price objective on shares of Aurora Innovation from $3.00 to $4.00 and gave the company a "hold" rating in a report on Thursday, October 31st.

Aurora Innovation Trading Down 6.7 %

The company has a market capitalization of $8.13 billion, a P/E ratio of -10.57 and a beta of 2.82. The stock's fifty day moving average is $5.40 and its 200 day moving average is $3.95.

Insider Activity

In other news, Director Reid Hoffman sold 1,393,874 shares of the business's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $5.45, for a total transaction of $7,596,613.30. Following the completion of the transaction, the director now directly owns 672,425 shares of the company's stock, valued at $3,664,716.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 13.83% of the company's stock.

Institutional Investors Weigh In On Aurora Innovation

Institutional investors and hedge funds have recently bought and sold shares of the business. Sterling Investment Advisors Ltd. purchased a new stake in Aurora Innovation during the third quarter valued at approximately $1,184,000. Vanguard Group Inc. lifted its position in shares of Aurora Innovation by 1.5% during the first quarter. Vanguard Group Inc. now owns 84,784,550 shares of the company's stock valued at $239,092,000 after buying an additional 1,267,962 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Aurora Innovation by 44.1% during the 1st quarter. Empowered Funds LLC now owns 17,597 shares of the company's stock valued at $50,000 after purchasing an additional 5,386 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Aurora Innovation by 67.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 500,535 shares of the company's stock worth $1,386,000 after purchasing an additional 202,413 shares during the last quarter. Finally, Algert Global LLC grew its stake in Aurora Innovation by 72.9% during the 2nd quarter. Algert Global LLC now owns 265,921 shares of the company's stock valued at $737,000 after purchasing an additional 112,131 shares during the last quarter. 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.