Aurora Innovation (NASDAQ:AUR) Stock Price Down 8.6% - Here's What Happened

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) was down 8.6% during trading on Monday . The company traded as low as $6.30 and last traded at $6.39. Approximately 5,696,092 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 25,100,000 shares. The stock had previously closed at $6.99.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wolfe Research began coverage on Aurora Innovation in a research report on Tuesday, November 26th. They issued a "peer perform" rating for the company. Evercore ISI lifted their target price on shares of Aurora Innovation from $3.00 to $5.00 and gave the stock an "in-line" rating in a report on Monday, October 14th. Canaccord Genuity Group increased their price target on shares of Aurora Innovation from $7.00 to $10.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Cantor Fitzgerald began coverage on shares of Aurora Innovation in a research report on Tuesday, December 10th. They set an "overweight" rating and a $10.00 price target for the company. Finally, TD Cowen upped their price objective on Aurora Innovation from $3.00 to $4.00 and gave the company a "hold" rating in a research report on Thursday, October 31st. One equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $6.30.

Aurora Innovation Price Performance

The stock's 50-day moving average is $6.60 and its two-hundred day moving average is $5.32. The company has a market cap of $10.77 billion, a P/E ratio of -12.80 and a beta of 2.85.

Insider Activity

In other news, Director Gloria R. Boyland sold 30,000 shares of Aurora Innovation stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $6.30, for a total transaction of $189,000.00. Following the transaction, the director now owns 344,647 shares in the company, valued at $2,171,276.10. This trade represents a 8.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Reid Hoffman sold 447,046 shares of the business's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $5.04, for a total transaction 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. The trade was a 94.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,776,667 shares of company stock valued at $48,432,337 in the last ninety days. 13.83% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aurora Innovation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its position in shares of Aurora Innovation by 7.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 172,129 shares of the company's stock valued at $1,084,000 after acquiring an additional 11,870 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Aurora Innovation in the 4th quarter worth approximately $164,000. JPMorgan Chase & Co. boosted its stake in 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 purchasing an additional 394,933 shares during the period. Franklin Resources Inc. purchased a new stake in Aurora Innovation during the 3rd quarter valued at approximately $72,000. Finally, Virtu Financial LLC bought a new stake in shares of Aurora Innovation during the third quarter valued at approximately $337,000. 44.71% of the stock is owned by hedge funds and other 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.