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

Aurora Innovation, Inc. (NASDAQ:AUR)’s share price dropped 8.6% during mid-day 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 trading, a decline of 77% from the average daily volume of 25,100,000 shares. The stock had previously closed at $6.99.

Analysts Set New Price Targets

Several analysts have recently weighed in on AUR shares. The Goldman Sachs Group lifted their price objective 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. Canaccord Genuity Group upped their price objective 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. Evercore ISI raised their target price on Aurora Innovation from $3.00 to $5.00 and gave the company an “in-line” rating in a research note on Monday, October 14th. TD Cowen upped their price target on Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Finally, Wolfe Research began coverage on Aurora Innovation in a report on Tuesday, November 26th. They issued a “peer perform” rating on the stock. One research 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.30.

Aurora Innovation Stock Performance

The company has a market cap of $11.48 billion, a price-to-earnings ratio of -13.63 and a beta of 2.85. The stock’s fifty day moving average is $6.63 and its two-hundred day moving average is $5.34.

Insider Transactions at Aurora Innovation

In other news, Director Gloria R. Boyland sold 30,000 shares of the company’s stock in a transaction 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 completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Reid Hoffman sold 1,393,874 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $5.45, for a total transaction of $7,596,613.30. Following the transaction, the director now directly owns 672,425 shares in the company, valued at $3,664,716.25. The trade was a 67.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,776,667 shares of company stock valued at $48,432,337 over the last ninety days. 13.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Aurora Innovation

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Amalgamated Bank lifted its holdings in Aurora Innovation by 10.0% during the third quarter. Amalgamated Bank now owns 32,006 shares of the company’s stock worth $189,000 after acquiring an additional 2,913 shares during the period. ASB Consultores LLC increased its position in shares of Aurora Innovation by 24.0% during the 3rd quarter. ASB Consultores LLC now owns 15,955 shares of the company’s stock valued at $94,000 after purchasing an additional 3,088 shares during the last quarter. Glenmede Trust Co. NA raised its stake in shares of Aurora Innovation by 14.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 31,779 shares of the company’s stock worth $188,000 after purchasing an additional 4,054 shares during the period. KBC Group NV boosted its holdings in shares of Aurora Innovation by 41.1% in the 3rd quarter. KBC Group NV now owns 26,092 shares of the company’s stock worth $154,000 after buying an additional 7,595 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Aurora Innovation by 8.1% during the second quarter. Victory Capital Management Inc. now owns 102,199 shares of the company’s stock valued at $283,000 after buying an additional 7,624 shares during the period. Hedge funds and other 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.