Aurora Innovation (NASDAQ:AUR) Stock Price Down 7.2% – Time to Sell?

Aurora Innovation, Inc. (NASDAQ:AUR)’s share price was down 7.2% on Wednesday . The stock traded as low as $6.47 and last traded at $6.50. Approximately 2,557,979 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 14,560,109 shares. The stock had previously closed at $7.00.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AUR shares. The Goldman Sachs Group increased their price objective on Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a research note on Monday, November 4th. 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 note on Thursday, October 31st. Wolfe Research began coverage on shares of Aurora Innovation in a research report on Tuesday, November 26th. They set a “peer perform” rating on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of Aurora Innovation in a research report on Thursday. Finally, Canaccord Genuity Group increased their target price on Aurora Innovation from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. One 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.com, Aurora Innovation has a consensus rating of “Hold” and a consensus target price of $6.30.

Aurora Innovation Stock Performance

The business’s 50-day moving average is $7.04 and its 200-day moving average is $5.80.

Aurora Innovation (NASDAQ:AUR) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.11) earnings per share (EPS) for the quarter. As a group, equities analysts anticipate that Aurora Innovation, Inc. will post -0.47 earnings per share for the current year.

Insider Activity at Aurora Innovation

In related news, Director Reid Hoffman sold 537,837 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $5.48, for a total transaction of $2,947,346.76. Following the sale, the director now directly owns 286,247 shares of the company’s stock, valued at approximately $1,568,633.56. This represents a 65.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gloria R. Boyland sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $6.30, for a total transaction 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 represents a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Aurora Innovation

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Aurora Innovation by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 113,020,406 shares of the company’s stock valued at $712,029,000 after acquiring an additional 2,687,191 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of Aurora Innovation by 17.2% during the third quarter. Baillie Gifford & Co. now owns 84,904,647 shares of the company’s stock valued at $502,636,000 after acquiring an additional 12,466,085 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Aurora Innovation by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 23,374,230 shares of the company’s stock valued at $147,292,000 after acquiring an additional 577,704 shares in the last quarter. State Street Corp raised its position in Aurora Innovation by 15.2% in the 3rd 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 last quarter. Finally, FMR LLC raised its position in Aurora Innovation by 206.1% in the 3rd quarter. FMR LLC now owns 13,848,530 shares of the company’s stock worth $81,983,000 after buying an additional 9,325,013 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.