Aurora Innovation (NASDAQ:AUR) Shares Gap Down - What's Next?

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $7.18, but opened at $6.93. Aurora Innovation shares last traded at $7.07, with a volume of 1,481,962 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AUR shares. Wolfe Research began coverage on Aurora Innovation in a report on Tuesday, November 26th. They issued a "peer perform" rating for the company. Cantor Fitzgerald assumed coverage on shares of Aurora Innovation in a research note on Tuesday, December 10th. They issued an "overweight" rating and a $10.00 target price for the company. The Goldman Sachs Group lifted their price target 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. 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 research report on Thursday, October 31st. Finally, Evercore ISI raised their target price on Aurora Innovation from $3.00 to $5.00 and gave the company an "in-line" rating in a research note on Monday, October 14th. 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 MarketBeat.com, Aurora Innovation presently has a consensus rating of "Hold" and an average price target of $5.70.

Aurora Innovation Trading Up 0.1 %

The stock has a market capitalization of $12.36 billion, a P/E ratio of -14.67 and a beta of 2.86. The stock's 50 day simple moving average is $6.31 and its 200 day simple moving average is $4.73.

Insider Buying and Selling

In other Aurora Innovation news, Director Reid Hoffman sold 1,181,400 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $5.60, for a total transaction of $6,615,840.00. Following the sale, the director now directly owns 125,000 shares of the company's stock, valued at approximately $700,000. This represents a 90.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gloria R. Boyland sold 30,000 shares of Aurora Innovation stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $6.30, for a total transaction 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 $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. Over the last three months, insiders sold 8,776,667 shares of company stock worth $48,432,337. Corporate insiders own 13.83% of the company's stock.

Hedge Funds Weigh In On Aurora Innovation

Large investors have recently bought and sold shares of the business. Baillie Gifford & Co. lifted its stake in Aurora Innovation by 17.2% in the third quarter. Baillie Gifford & Co. now owns 84,904,647 shares of the company's stock valued at $502,636,000 after buying an additional 12,466,085 shares during the last quarter. Geode Capital Management LLC lifted its position 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 valued at $134,981,000 after purchasing an additional 3,064,342 shares during the last quarter. State Street Corp boosted its stake in Aurora Innovation by 15.2% during the 3rd quarter. State Street Corp now owns 22,183,252 shares of the company's stock valued at $131,325,000 after purchasing an additional 2,920,653 shares during the period. FMR LLC grew its position in Aurora Innovation by 206.1% in the 3rd 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. Finally, Dimensional Fund Advisors LP increased its stake in shares of Aurora Innovation by 23.1% in the second quarter. Dimensional Fund Advisors LP now owns 13,337,429 shares of the company's stock valued at $36,941,000 after purchasing an additional 2,502,002 shares during the period. Institutional investors own 44.71% of the company's stock.

Aurora Innovation Company Profile

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.