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

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $7.34, but opened at $7.19. Aurora Innovation shares last traded at $7.06, with a volume of 538,663 shares changing hands.

Wall Street Analyst Weigh In

AUR has been the topic of several analyst reports. The Goldman Sachs Group upped their price target on Aurora Innovation from $2.00 to $2.50 and gave the company a "sell" rating in a research report on Monday, November 4th. Wolfe Research initiated coverage on shares of Aurora Innovation in a report on Tuesday, November 26th. They set a "peer perform" rating on the stock. Canaccord Genuity Group reissued a "buy" rating and issued a $7.00 price target on shares of Aurora Innovation in a report on Monday, September 30th. TD Cowen upped their price target on shares of Aurora Innovation from $3.00 to $4.00 and gave the stock a "hold" rating in a report on Thursday, October 31st. Finally, Evercore ISI lifted their price objective 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 given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $5.70.

Aurora Innovation Stock Down 5.4 %

The firm's 50-day simple moving average is $6.42 and its 200-day simple moving average is $4.90. The firm has a market capitalization of $11.93 billion, a PE ratio of -14.16 and a beta of 2.86.

Insider Activity at Aurora Innovation

In related news, Director Gloria R. Boyland sold 30,000 shares of the firm'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 sale, the director now 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Reid Hoffman sold 3,500,000 shares of Aurora Innovation stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $5.58, for a total transaction of $19,530,000.00. Following the completion of the sale, the director now owns 382,425 shares in the company, valued at approximately $2,133,931.50. This trade represents a 90.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,776,667 shares of company stock worth $48,432,337 in the last three months. 13.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank increased its stake in shares of Aurora Innovation by 10.0% in the 3rd quarter. Amalgamated Bank now owns 32,006 shares of the company's stock worth $189,000 after acquiring an additional 2,913 shares in the last quarter. ASB Consultores LLC increased its stake in shares of Aurora Innovation by 24.0% during the third quarter. ASB Consultores LLC now owns 15,955 shares of the company's stock valued at $94,000 after purchasing an additional 3,088 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of Aurora Innovation by 14.6% during the third quarter. Glenmede Trust Co. NA now owns 31,779 shares of the company's stock valued at $188,000 after purchasing an additional 4,054 shares during the last quarter. KBC Group NV boosted its position in shares of Aurora Innovation by 41.1% in the 3rd quarter. KBC Group NV now owns 26,092 shares of the company's stock worth $154,000 after purchasing an additional 7,595 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Aurora Innovation by 8.1% in the 2nd quarter. Victory Capital Management Inc. now owns 102,199 shares of the company's stock worth $283,000 after buying an additional 7,624 shares during the last quarter. Hedge funds and other 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.