Aurora Innovation (NASDAQ:AUR) Stock Price Down 8.1% on Insider Selling

Aurora Innovation, Inc. (NASDAQ:AUR)’s share price was down 8.1% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $5.09 and last traded at $5.10. Approximately 1,694,545 shares changed hands during trading, a decline of 80% from the average daily volume of 8,637,591 shares. The stock had previously closed at $5.55.

Specifically, Director Reid Hoffman sold 1,393,874 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $5.45, for a total value of $7,596,613.30. Following the completion of the sale, the director now directly owns 672,425 shares of the company’s stock, valued at $3,664,716.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

A number of brokerages recently commented on AUR. 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 report on Monday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $7.00 price target on shares of Aurora Innovation in a research report on Monday, September 30th. Evercore ISI upped their price objective on Aurora Innovation from $3.00 to $5.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. Finally, TD Cowen boosted their target price on shares of Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a research note on Thursday, October 31st.

Aurora Innovation Price Performance

The firm has a fifty day moving average price of $5.43 and a two-hundred day moving average price of $3.96. The stock has a market capitalization of $8.99 billion, a PE ratio of -11.65 and a beta of 2.82.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AUR. Empowered Funds LLC raised its holdings in shares of Aurora Innovation by 44.1% during the first quarter. Empowered Funds LLC now owns 17,597 shares of the company’s stock valued at $50,000 after acquiring an additional 5,386 shares during the last quarter. Swiss National Bank raised its stake in shares of Aurora Innovation by 15.2% in the first quarter. Swiss National Bank now owns 1,355,500 shares of the company’s stock valued at $3,823,000 after acquiring an additional 178,900 shares in the last quarter. ProShare Advisors LLC raised its stake in Aurora Innovation by 14.5% in the first quarter. ProShare Advisors LLC now owns 64,179 shares of the company’s stock valued at $181,000 after buying an additional 8,142 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Aurora Innovation by 1.5% during the first quarter. Vanguard Group Inc. now owns 84,784,550 shares of the company’s stock worth $239,092,000 after purchasing an additional 1,267,962 shares in the last quarter. Finally, American International Group Inc. increased its position in shares of Aurora Innovation by 4.6% during the first quarter. American International Group Inc. now owns 176,045 shares of the company’s stock worth $496,000 after purchasing an additional 7,773 shares in the last quarter. 44.71% of the stock is currently 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.