Aurora Innovation (NASDAQ:AUR) Shares Gap Up - Time to Buy?

Shares of Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $4.99, but opened at $5.45. Aurora Innovation shares last traded at $5.34, with a volume of 1,553,610 shares.

Wall Street Analyst Weigh In

AUR has been the topic of a number of research analyst reports. Canaccord Genuity Group reissued a "buy" rating and set a $7.00 price objective on shares of Aurora Innovation in a report on Monday, September 30th. Evercore ISI upped their price target on Aurora Innovation from $3.00 to $5.00 and gave the stock an "in-line" rating in a report on Monday, October 14th. The Goldman Sachs Group lifted their price objective on Aurora Innovation from $2.00 to $2.50 and gave the stock a "sell" rating in a report on Monday, November 4th. Finally, TD Cowen upped their target price on 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 Up 23.2 %

The business has a 50 day moving average of $5.58 and a 200-day moving average of $4.10. The stock has a market cap of $10.57 billion, a PE ratio of -12.55 and a beta of 2.82.

Insider Activity at Aurora Innovation

In other Aurora Innovation news, Director Reid Hoffman sold 3,500,000 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $5.58, for a total value of $19,530,000.00. Following the completion of the transaction, the director now directly owns 382,425 shares in the company, valued at approximately $2,133,931.50. The trade was a 90.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 8,746,667 shares of company stock valued at $48,243,337 over the last quarter. Insiders own 13.83% of the company's stock.

Institutional Investors Weigh In On Aurora Innovation

A number of institutional investors have recently bought and sold shares of AUR. Baillie Gifford & Co. raised its holdings in shares of Aurora Innovation by 78.4% in the 2nd quarter. Baillie Gifford & Co. now owns 72,438,562 shares of the company's stock worth $200,655,000 after purchasing an additional 31,841,994 shares during the period. FMR LLC grew its stake in Aurora Innovation by 206.1% during the third quarter. FMR LLC now owns 13,848,530 shares of the company's stock worth $81,983,000 after buying an additional 9,325,013 shares during the period. Bank of New York Mellon Corp increased its position in shares of Aurora Innovation by 273.5% in the second quarter. Bank of New York Mellon Corp now owns 5,190,426 shares of the company's stock worth $14,377,000 after acquiring an additional 3,800,901 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of 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 acquiring an additional 3,064,342 shares during the period. Finally, State Street Corp lifted its holdings in shares of 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 acquiring an additional 2,920,653 shares in the last quarter. 44.71% of the stock is currently owned by hedge funds and other 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.