Aurora Innovation (NASDAQ:AUR) Shares Gap Up – What’s Next?

Shares of Aurora Innovation, Inc. (NASDAQ:AUR) gapped up before the market opened on Thursday . The stock had previously closed at $6.45, but opened at $6.83. Aurora Innovation shares last traded at $8.21, with a volume of 4,727,666 shares.

Analyst Upgrades and Downgrades

AUR has been the subject of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price objective on shares of Aurora Innovation in a research report on Thursday. TD Cowen lifted their price target on shares of Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. The Goldman Sachs Group increased 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. Canaccord Genuity Group raised their price objective on shares of Aurora Innovation from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Wolfe Research started coverage on Aurora Innovation in a research note on Tuesday, November 26th. They issued a “peer perform” rating on the stock. One investment 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.30.

Aurora Innovation Stock Performance

The company has a 50-day moving average of $7.04 and a 200-day moving average of $5.80. The firm has a market capitalization of $14.75 billion, a price-to-earnings ratio of -17.52 and a beta of 2.85.

Aurora Innovation (NASDAQ:AUR) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.11) earnings per share for the quarter. As a group, analysts anticipate that Aurora Innovation, Inc. will post -0.47 EPS for the current fiscal year.

Insider Buying and Selling

In other Aurora Innovation news, Director Gloria R. Boyland sold 30,000 shares of the firm’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 completion of the transaction, the director now directly owns 344,647 shares in the company, valued at $2,171,276.10. This trade represents a 8.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Reid Hoffman sold 537,837 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $5.48, for a total value of $2,947,346.76. Following the sale, the director now owns 286,247 shares in the company, valued at approximately $1,568,633.56. This represents a 65.26 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,014,883 shares of company stock worth $5,389,459. 13.83% of the stock is owned by corporate insiders.

Institutional Trading of Aurora Innovation

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of 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. Citigroup Inc. boosted its stake in shares of Aurora Innovation by 229.4% during the 3rd quarter. Citigroup Inc. now owns 705,181 shares of the company’s stock worth $4,175,000 after acquiring an additional 491,125 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Aurora Innovation by 26.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,424,827 shares of the company’s stock worth $49,875,000 after acquiring an additional 1,776,513 shares during the last quarter. Sterling Investment Advisors Ltd. bought a new stake in Aurora Innovation in the 3rd quarter valued at $1,184,000. Finally, State Street Corp increased 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 valued at $131,325,000 after purchasing an additional 2,920,653 shares during the last quarter. 44.71% of the stock is 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.