Aurora Innovation (NASDAQ:AUR) Trading Down 2.3% - Here's Why

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) shares traded down 2.3% during mid-day trading on Monday . The stock traded as low as $6.35 and last traded at $6.64. 5,020,128 shares were traded during mid-day trading, a decline of 68% from the average session volume of 15,909,641 shares. The stock had previously closed at $6.80.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Canaccord Genuity Group upped their price objective on Aurora Innovation from $7.00 to $10.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Evercore ISI raised their price target on shares of Aurora Innovation from $3.00 to $5.00 and gave the stock an "in-line" rating in a research report on Monday, October 14th. The Goldman Sachs Group increased their target price on shares of Aurora Innovation from $2.00 to $2.50 and gave the stock a "sell" rating in a research report on Monday, November 4th. Cantor Fitzgerald began coverage on shares of Aurora Innovation in a research report on Tuesday, December 10th. They issued an "overweight" rating and a $10.00 price target for the company. Finally, Wolfe Research started coverage on Aurora Innovation in a research report on Tuesday, November 26th. They set a "peer perform" rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $6.30.

Aurora Innovation Trading Up 1.7 %

The company's 50-day moving average is $6.98 and its 200-day moving average is $5.73. The firm has a market cap of $12.37 billion, a price-to-earnings ratio of -14.69 and a beta of 2.85.

Insider Buying and Selling at Aurora Innovation

In other news, Director Reid Hoffman sold 856,797 shares of Aurora Innovation stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $5.49, for a total transaction of $4,703,815.53. Following the sale, the director now directly owns 268,099 shares of the company's stock, valued at approximately $1,471,863.51. This trade represents a 76.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value of $189,000.00. Following the completion of the transaction, the director now directly owns 344,647 shares of the company's stock, valued at $2,171,276.10. This represents a 8.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,053,080 shares of company stock valued at $16,709,114. 13.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Aurora Innovation

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. grew its position 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 buying an additional 12,466,085 shares during the last quarter. FMR LLC raised its holdings in Aurora Innovation by 206.1% during the 3rd quarter. FMR LLC now owns 13,848,530 shares of the company's stock worth $81,983,000 after purchasing an additional 9,325,013 shares during the last quarter. Geode Capital Management LLC boosted 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 purchasing an additional 3,064,342 shares during the last quarter. State Street Corp increased its position 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 worth $131,325,000 after buying an additional 2,920,653 shares during the period. Finally, ARK Investment Management LLC bought a new position in Aurora Innovation during the third quarter worth $12,433,000. 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.