Aurora Innovation (NASDAQ:AUR) Shares Down 8.6% – Should You Sell?

Aurora Innovation, Inc. (NASDAQ:AUR) shares fell 8.6% during trading on Monday . The stock traded as low as $6.30 and last traded at $6.39. 5,696,092 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 25,100,000 shares. The stock had previously closed at $6.99.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AUR. Cantor Fitzgerald initiated coverage on Aurora Innovation in a report on Tuesday, December 10th. They set an “overweight” rating and a $10.00 target price for the company. Evercore ISI lifted their target price 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. Wolfe Research initiated coverage on Aurora Innovation in a research report on Tuesday, November 26th. They set a “peer perform” rating for the company. 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 report on Monday, November 4th. Finally, TD Cowen increased their target price on shares of Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.30.

Aurora Innovation Trading Down 9.6 %

The company has a market cap of $10.86 billion, a P/E ratio of -12.90 and a beta of 2.85. The business has a 50 day moving average price of $6.59 and a 200-day moving average price of $5.29.

Insider Buying and Selling at Aurora Innovation

In other Aurora Innovation news, Director Gloria R. Boyland sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $6.30, for a total value of $189,000.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Reid Hoffman sold 1,181,400 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $5.60, for a total value of $6,615,840.00. Following the transaction, the director now directly owns 125,000 shares in the company, valued at $700,000. The trade was a 90.43 % 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 worth $48,432,337 over the last quarter. 13.83% of the stock is currently owned by insiders.

Institutional Trading of Aurora Innovation

Several hedge funds and other institutional investors have recently modified their holdings of AUR. Harbor Capital Advisors Inc. lifted its position in Aurora Innovation by 7.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 172,129 shares of the company’s stock worth $1,084,000 after acquiring an additional 11,870 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in Aurora Innovation during the 4th quarter worth approximately $164,000. JPMorgan Chase & Co. boosted its stake in Aurora Innovation by 40.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,380,479 shares of the company’s stock valued at $8,172,000 after purchasing an additional 394,933 shares during the period. Franklin Resources Inc. acquired a new position in Aurora Innovation in the 3rd quarter valued at $72,000. Finally, Virtu Financial LLC bought a new position in Aurora Innovation during the 3rd quarter worth $337,000. 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.