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

Shares of Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $8.39, but opened at $8.02. Aurora Innovation shares last traded at $7.49, with a volume of 5,140,292 shares.

Analyst Ratings Changes

Several research firms have recently weighed in on AUR. Cantor Fitzgerald assumed coverage on Aurora Innovation in a report on Tuesday, December 10th. They issued an "overweight" rating and a $10.00 target price for the company. The Goldman Sachs Group boosted their target price on Aurora Innovation from $2.00 to $2.50 and gave the company a "sell" rating in a report on Monday, November 4th. Wolfe Research assumed coverage on shares of Aurora Innovation in a research report on Tuesday, November 26th. They issued a "peer perform" rating for the company. Evercore ISI increased their target price on Aurora Innovation from $3.00 to $5.00 and gave the stock an "in-line" rating in a research note on Monday, October 14th. Finally, Canaccord Genuity Group lifted their price target on Aurora Innovation from $7.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday. One investment 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. According to MarketBeat.com, Aurora Innovation currently has a consensus rating of "Hold" and an average price target of $6.30.

Aurora Innovation Stock Performance

The firm has a market cap of $13.85 billion, a price-to-earnings ratio of -16.45 and a beta of 2.85. The business has a fifty day moving average of $6.48 and a two-hundred day moving average of $5.18.

Insiders Place Their Bets

In related news, Director Gloria R. Boyland sold 30,000 shares of the company's stock in a transaction that occurred on 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 owns 344,647 shares of the company's stock, valued at approximately $2,171,276.10. This represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Reid Hoffman sold 447,046 shares of the business's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $5.04, for a total value of $2,253,111.84. Following the sale, the director now directly owns 26,892 shares of the company's stock, valued at approximately $135,535.68. This trade represents a 94.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,776,667 shares of company stock worth $48,432,337. Insiders own 13.83% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. grew its holdings in Aurora Innovation by 17.2% during the 3rd quarter. Baillie Gifford & Co. now owns 84,904,647 shares of the company's stock valued at $502,636,000 after purchasing an additional 12,466,085 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Aurora Innovation by 15.5% during the third 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. State Street Corp lifted its stake in shares of Aurora Innovation by 15.2% in the third 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 in the last quarter. 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 during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Aurora Innovation by 23.1% during the 2nd 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 in the last quarter. 44.71% of the stock is owned by hedge funds and other institutional investors.

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.