Aurora Innovation (NASDAQ:AUR) Stock Price Down 2.3% – Here’s What Happened

Aurora Innovation, Inc. (NASDAQ:AUR)’s share price was down 2.3% during mid-day trading on Monday . The company traded as low as $6.35 and last traded at $6.64. Approximately 5,020,128 shares changed hands during trading, a decline of 68% from the average daily volume of 15,909,641 shares. The stock had previously closed at $6.80.

Analyst Ratings Changes

A number of analysts have commented on AUR shares. Wolfe Research started coverage on shares of Aurora Innovation in a research note on Tuesday, November 26th. They set a “peer perform” rating for the company. Evercore ISI upped their target price on shares of 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 upped their target price on shares of Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. The Goldman Sachs Group increased their price target on shares of Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a research report on Monday, November 4th. Finally, Canaccord Genuity Group increased their price target on shares of Aurora Innovation from $7.00 to $10.00 and gave the company 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.30.

Aurora Innovation Price Performance

The firm has a market capitalization of $11.67 billion, a PE ratio of -13.86 and a beta of 2.85. The company’s fifty day simple moving average is $6.91 and its 200 day simple moving average is $5.65.

Insider Buying and Selling at Aurora Innovation

In other news, Director Gloria R. Boyland sold 30,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $6.30, for a total value of $189,000.00. Following the sale, the director now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Reid Hoffman sold 3,500,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $5.58, for a total transaction of $19,530,000.00. Following the completion of the transaction, the director now owns 382,425 shares in the company, valued at approximately $2,133,931.50. This trade represents a 90.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,382,793 shares of company stock valued at $40,835,724 over the last three months. 13.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Baillie Gifford & Co. grew its position in 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 during the last quarter. Geode Capital Management LLC grew its position in Aurora Innovation by 15.5% during the third quarter. Geode Capital Management LLC now owns 22,796,526 shares of the company’s stock valued at $134,981,000 after acquiring an additional 3,064,342 shares during the last quarter. State Street Corp grew its holdings in shares of Aurora Innovation by 15.2% in the third quarter. State Street Corp now owns 22,183,252 shares of the company’s stock worth $131,325,000 after purchasing an additional 2,920,653 shares during the last quarter. FMR LLC grew its holdings in shares of Aurora Innovation by 206.1% in the third quarter. FMR LLC now owns 13,848,530 shares of the company’s stock worth $81,983,000 after purchasing an additional 9,325,013 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Aurora Innovation by 26.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,424,827 shares of the company’s stock worth $49,875,000 after purchasing an additional 1,776,513 shares during the last quarter. 44.71% of the stock is currently owned by 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.