Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s stock price fell 8.6% during trading on Monday . The company traded as low as $6.30 and last traded at $6.39. 5,696,092 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 25,100,000 shares. The stock had previously closed at $6.99.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on AUR. TD Cowen raised their target price on Aurora Innovation from $3.00 to $4.00 and gave the stock a "hold" rating in a research report on Thursday, October 31st. Cantor Fitzgerald initiated coverage on Aurora Innovation in a report on Tuesday, December 10th. They issued an "overweight" rating and a $10.00 price objective for the company. Wolfe Research initiated coverage on Aurora Innovation in a research note on Tuesday, November 26th. They issued a "peer perform" rating on the stock. Evercore ISI increased their target price 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. Finally, The Goldman Sachs Group boosted their price target on shares of Aurora Innovation from $2.00 to $2.50 and gave the company a "sell" rating in a research report on Monday, November 4th. One 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. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $6.30.
Read Our Latest Research Report on AUR
Aurora Innovation Stock Performance
The business has a 50 day moving average of $6.63 and a 200-day moving average of $5.34. The company has a market capitalization of $11.48 billion, a P/E ratio of -13.63 and a beta of 2.85.
Insider Activity
In other Aurora Innovation news, Director Reid Hoffman sold 447,046 shares of the company's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $5.04, for a total value of $2,253,111.84. Following the transaction, the director now directly owns 26,892 shares in the company, valued at $135,535.68. This represents a 94.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gloria R. Boyland sold 30,000 shares of Aurora Innovation stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $6.30, for a total value of $189,000.00. Following the sale, the director now owns 344,647 shares of the company's stock, valued at approximately $2,171,276.10. This trade represents a 8.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,776,667 shares of company stock worth $48,432,337 over the last ninety days. Company insiders own 13.83% of the company's stock.
Institutional Investors Weigh In On Aurora Innovation
A number of institutional investors and hedge funds have recently bought and sold shares of AUR. Citigroup Inc. grew its stake in Aurora Innovation by 229.4% in the 3rd quarter. Citigroup Inc. now owns 705,181 shares of the company's stock worth $4,175,000 after buying an additional 491,125 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Aurora Innovation by 26.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,424,827 shares of the company's stock valued at $49,875,000 after buying an additional 1,776,513 shares in the last quarter. Sterling Investment Advisors Ltd. bought a new stake in Aurora Innovation in the 3rd quarter worth approximately $1,184,000. JPMorgan Chase & Co. boosted its stake in Aurora Innovation by 40.1% in the third quarter. JPMorgan Chase & Co. now owns 1,380,479 shares of the company's stock worth $8,172,000 after buying an additional 394,933 shares in the last quarter. Finally, State Street Corp grew its position in 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 acquiring an additional 2,920,653 shares during the last quarter. 44.71% of the stock is owned by hedge funds and other institutional investors.
About Aurora Innovation
(
Get Free Report)
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.
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