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

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $6.27, but opened at $6.61. Aurora Innovation shares last traded at $6.63, with a volume of 1,740,240 shares traded.

Wall Street Analyst Weigh In

AUR has been the subject of several analyst reports. Wolfe Research began coverage on shares of Aurora Innovation in a research note on Tuesday, November 26th. They issued a "peer perform" rating for the company. TD Cowen lifted their price target on Aurora Innovation from $3.00 to $4.00 and gave the stock a "hold" rating in a report on Thursday, October 31st. Cantor Fitzgerald started coverage on Aurora Innovation in a research note on Tuesday, December 10th. They issued an "overweight" rating and a $10.00 price objective for the company. The Goldman Sachs Group lifted their target price on Aurora Innovation from $2.00 to $2.50 and gave the stock a "sell" rating in a research note on Monday, November 4th. Finally, Evercore ISI increased their price target on shares of Aurora Innovation from $3.00 to $5.00 and gave the company an "in-line" rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $6.30.

Aurora Innovation Trading Up 2.2 %

The business has a 50-day moving average price of $6.60 and a 200 day moving average price of $5.32. The stock has a market cap of $11.02 billion, a PE ratio of -13.08 and a beta of 2.85.

Insiders Place Their Bets

In other news, Director Reid Hoffman sold 447,046 shares of the 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 represents a 94.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gloria R. Boyland sold 30,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $6.30, for a total transaction of $189,000.00. Following the completion of the sale, the director now 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 disclosure for this sale can be found here. Insiders sold 8,776,667 shares of company stock worth $48,432,337 over the last quarter. 13.83% of the stock is currently owned by company insiders.

Institutional Trading of Aurora Innovation

Hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. boosted its stake in shares of Aurora Innovation by 17.2% in 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 boosted its position in Aurora Innovation by 15.5% during the third quarter. Geode Capital Management LLC now owns 22,796,526 shares of the company's stock valued at $134,981,000 after buying an additional 3,064,342 shares during the period. State Street Corp grew its stake in shares of Aurora Innovation by 15.2% during the third quarter. State Street Corp now owns 22,183,252 shares of the company's stock valued at $131,325,000 after buying an additional 2,920,653 shares during the last quarter. FMR LLC increased its holdings in shares of Aurora Innovation by 206.1% in 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. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Aurora Innovation by 23.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,337,429 shares of the company's stock valued at $36,941,000 after acquiring an additional 2,502,002 shares during the last quarter. 44.71% of the stock is owned by 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.