Aurora Innovation (NASDAQ:AUR) Shares Gap Down – Time to Sell?

Aurora Innovation, Inc. (NASDAQ:AUR) shares gapped down before the market opened on Tuesday . The stock had previously closed at $6.45, but opened at $6.24. Aurora Innovation shares last traded at $6.30, with a volume of 743,996 shares.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Canaccord Genuity Group reissued a “buy” rating and issued a $7.00 price objective on shares of Aurora Innovation in a research report on Monday, September 30th. The Goldman Sachs Group lifted their price target on Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a research note on Monday, November 4th. Evercore ISI lifted their price target on Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. TD Cowen lifted their target price on Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Finally, Wolfe Research initiated coverage on Aurora Innovation in a research note on Tuesday. They issued a “peer perform” rating for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.63.

Aurora Innovation Stock Performance

The stock has a market cap of $10.79 billion, a price-to-earnings ratio of -13.16 and a beta of 2.82. The stock’s 50-day simple moving average is $5.78 and its two-hundred day simple moving average is $4.22.

Insider Activity at Aurora Innovation

In related news, Director Reid Hoffman sold 537,837 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $5.48, for a total value of $2,947,346.76. Following the transaction, the director now directly owns 286,247 shares in the company, valued at $1,568,633.56. This represents a 65.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 8,746,667 shares of company stock valued at $48,243,337 over the last quarter. 13.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On Aurora Innovation

Large investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC bought a new stake in Aurora Innovation during the 2nd quarter worth approximately $30,000. Profund Advisors LLC bought a new position in Aurora Innovation during the second quarter valued at about $46,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Aurora Innovation in the second quarter worth about $51,000. Nisa Investment Advisors LLC increased its stake in shares of Aurora Innovation by 32.0% in the second quarter. Nisa Investment Advisors LLC now owns 19,412 shares of the company’s stock worth $54,000 after purchasing an additional 4,702 shares in the last quarter. Finally, Diversified Portfolios Inc. purchased a new position in shares of Aurora Innovation in the second quarter worth about $54,000. Institutional investors own 44.71% of the company’s stock.

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.