Aurora Innovation (NASDAQ:AUR) Trading Up 3.2% - Here's Why

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) rose 3.2% on Friday . The stock traded as high as $7.08 and last traded at $7.03. Approximately 2,937,670 shares were traded during trading, a decline of 82% from the average daily volume of 15,952,413 shares. The stock had previously closed at $6.81.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AUR shares. The Goldman Sachs Group increased their price target on Aurora Innovation from $2.00 to $2.50 and gave the stock a "sell" rating in a research note on Monday, November 4th. TD Cowen lifted their target price on shares of Aurora Innovation from $3.00 to $4.00 and gave the stock a "hold" rating in a research note on Thursday, October 31st. Evercore ISI upped 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 note on Monday, October 14th. Canaccord Genuity Group lifted their price objective on shares of Aurora Innovation from $7.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Finally, Wolfe Research assumed coverage on Aurora Innovation in a research report on Tuesday, November 26th. They set a "peer perform" rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, Aurora Innovation has a consensus rating of "Hold" and an average price target of $6.30.

Aurora Innovation Price Performance

The business has a 50 day moving average price of $6.91 and a two-hundred day moving average price of $5.65. The stock has a market cap of $11.67 billion, a PE ratio of -13.86 and a beta of 2.85.

Insider Transactions at Aurora Innovation

In other news, Director Reid Hoffman sold 3,500,000 shares of the stock in a transaction that occurred 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 owns 382,425 shares of the company's stock, valued at approximately $2,133,931.50. This represents a 90.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gloria R. Boyland sold 30,000 shares of Aurora Innovation 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 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. In the last three months, insiders have sold 7,382,793 shares of company stock worth $40,835,724. 13.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Aurora Innovation

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in shares of Aurora Innovation by 40.1% in the 3rd 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 during the period. Citigroup Inc. boosted its stake in Aurora Innovation by 229.4% during the third quarter. Citigroup Inc. now owns 705,181 shares of the company's stock worth $4,175,000 after acquiring an additional 491,125 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Aurora Innovation by 26.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,424,827 shares of the company's stock worth $49,875,000 after purchasing an additional 1,776,513 shares during the period. Sterling Investment Advisors Ltd. bought a new position in shares of Aurora Innovation during the third quarter valued at approximately $1,184,000. Finally, State Street Corp lifted its holdings 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 purchasing an additional 2,920,653 shares during the last quarter. Institutional investors own 44.71% of the company's stock.

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.