Aurora Innovation (NASDAQ:AUR) Shares Gap Up - Still a Buy?

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s share price gapped up prior to trading on Thursday . The stock had previously closed at $6.45, but opened at $6.83. Aurora Innovation shares last traded at $8.21, with a volume of 4,727,666 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on AUR. TD Cowen upped their price target 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. Evercore ISI upped their price target on shares of Aurora Innovation from $5.00 to $6.00 and gave the company an "in-line" rating in a report on Tuesday. Wolfe Research initiated coverage on shares of Aurora Innovation in a research report on Tuesday, November 26th. They issued a "peer perform" rating on the stock. Canaccord Genuity Group increased their price objective on shares of Aurora Innovation from $7.00 to $10.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group upped their price target on shares of Aurora Innovation from $2.00 to $2.50 and gave the company a "sell" rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $6.50.

Aurora Innovation Stock Down 7.1 %

The firm has a market capitalization of $16.27 billion, a price-to-earnings ratio of -19.33 and a beta of 2.85. The company's 50 day moving average is $7.19 and its 200 day moving average is $5.94.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.11) earnings per share (EPS) for the quarter. On average, analysts expect that Aurora Innovation, Inc. will post -0.47 EPS for the current year.

Insiders Place Their Bets

In other Aurora Innovation news, Director Gloria R. Boyland sold 30,000 shares of the 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 sale, the director now directly owns 344,647 shares in the company, valued at $2,171,276.10. This represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 13.83% of the company's stock.

Institutional Investors Weigh In On Aurora Innovation

A number of hedge funds have recently made changes to their positions in AUR. Creative Planning acquired a new stake in shares of Aurora Innovation in the 3rd quarter valued at approximately $652,000. Sterling Investment Advisors Ltd. acquired a new stake in shares of Aurora Innovation in the 3rd quarter valued at approximately $1,184,000. Vanguard Capital Wealth Advisors acquired a new stake in shares of Aurora Innovation in the 3rd quarter valued at approximately $266,000. Harbor Capital Advisors Inc. raised its holdings in Aurora Innovation by 22.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 160,259 shares of the company's stock valued at $949,000 after buying an additional 29,106 shares during the last quarter. Finally, ASB Consultores LLC raised its holdings in Aurora Innovation by 24.0% in the 3rd quarter. ASB Consultores LLC now owns 15,955 shares of the company's stock valued at $94,000 after buying an additional 3,088 shares during the last quarter. 44.71% of the stock is currently owned by institutional investors and hedge funds.

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.