Stock Traders Purchase High Volume of Aurora Innovation Call Options (NASDAQ:AUR)

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) saw some unusual options trading activity on Tuesday. Traders acquired 35,269 call options on the company. This represents an increase of 466% compared to the typical daily volume of 6,231 call options.

Insider Activity

In other news, Director Reid Hoffman sold 3,500,000 shares of Aurora Innovation stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $5.58, for a total transaction of $19,530,000.00. Following the transaction, the director now owns 382,425 shares in the company, valued at approximately $2,133,931.50. The trade was a 90.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gloria R. Boyland sold 30,000 shares of the 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 completion of the sale, the director now directly owns 344,647 shares of the company's stock, valued at approximately $2,171,276.10. The trade was a 8.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,776,667 shares of company stock worth $48,432,337. Corporate insiders own 13.83% of the company's stock.

Institutional Trading of Aurora Innovation

Institutional investors and hedge funds have recently made changes to their positions in the company. Everence Capital Management Inc. bought a new stake in Aurora Innovation during the fourth quarter worth $164,000. JPMorgan Chase & Co. raised its stake in shares of Aurora Innovation by 40.1% during 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 position in shares of Aurora Innovation in the 3rd quarter worth about $72,000. Virtu Financial LLC bought a new position in Aurora Innovation during the third quarter valued at about $337,000. Finally, Geode Capital Management LLC increased its holdings 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 worth $134,981,000 after buying an additional 3,064,342 shares during the last quarter. Hedge funds and other institutional investors own 44.71% of the company's stock.

Aurora Innovation Stock Performance

Shares of Aurora Innovation stock traded up $1.89 on Tuesday, hitting $8.39. The company had a trading volume of 98,688,335 shares, compared to its average volume of 32,090,225. Aurora Innovation has a 1 year low of $2.10 and a 1 year high of $9.83. The stock has a 50 day moving average of $6.48 and a 200-day moving average of $5.18. The stock has a market capitalization of $14.42 billion, a price-to-earnings ratio of -17.12 and a beta of 2.85.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AUR shares. Evercore ISI increased their price target on Aurora Innovation from $3.00 to $5.00 and gave the stock an "in-line" rating in a report on Monday, October 14th. The Goldman Sachs Group lifted their price target on shares of Aurora Innovation from $2.00 to $2.50 and gave the company a "sell" rating in a research note on Monday, November 4th. Cantor Fitzgerald started coverage on shares of Aurora Innovation in a research report on Tuesday, December 10th. They set an "overweight" rating and a $10.00 price objective on the stock. Wolfe Research started coverage on Aurora Innovation in a research report on Tuesday, November 26th. They issued a "peer perform" rating for the company. Finally, TD Cowen raised their price objective on Aurora Innovation from $3.00 to $4.00 and gave the company a "hold" rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Aurora Innovation has an average rating of "Hold" and an average target price of $5.70.

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.