Aurora Innovation (NASDAQ:AUR) Hits New 52-Week High – Should You Buy?

Aurora Innovation, Inc. (NASDAQ:AUR) hit a new 52-week high during trading on Monday . The stock traded as high as $8.10 and last traded at $8.03, with a volume of 7858386 shares. The stock had previously closed at $6.97.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AUR. Wolfe Research began coverage on Aurora Innovation in a research report on Tuesday, November 26th. They set a “peer perform” rating for the company. TD Cowen upped their price objective on Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Canaccord Genuity Group reiterated a “buy” rating and set a $7.00 target price on shares of Aurora Innovation in a research report on Monday, September 30th. Cantor Fitzgerald started coverage on shares of Aurora Innovation in a research note on Tuesday, December 10th. They set an “overweight” rating and a $10.00 target price for the company. Finally, 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 note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Aurora Innovation currently has an average rating of “Hold” and an average price target of $5.70.

Aurora Innovation Stock Performance

The business’s 50 day moving average price is $6.24 and its 200-day moving average price is $4.70. The firm has a market cap of $12.30 billion, a price-to-earnings ratio of -14.61 and a beta of 2.86.

Insider Activity at Aurora Innovation

In other news, Director Gloria R. Boyland sold 30,000 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $6.30, for a total transaction of $189,000.00. Following the transaction, the director now directly owns 344,647 shares of the company’s stock, valued at approximately $2,171,276.10. This trade represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Reid Hoffman sold 3,500,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 of the company’s stock, valued at $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 sold a total of 8,776,667 shares of company stock valued at $48,432,337 in the last quarter. Insiders own 13.83% of the company’s stock.

Institutional Investors Weigh In On Aurora Innovation

Institutional investors and hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. boosted its position in Aurora Innovation by 78.4% during the 2nd quarter. Baillie Gifford & Co. now owns 72,438,562 shares of the company’s stock worth $200,655,000 after acquiring an additional 31,841,994 shares during the period. FMR LLC boosted its holdings in shares of Aurora Innovation by 206.1% during 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 period. Bank of New York Mellon Corp grew its position in Aurora Innovation by 273.5% during the second quarter. Bank of New York Mellon Corp now owns 5,190,426 shares of the company’s stock valued at $14,377,000 after purchasing an additional 3,800,901 shares in the last quarter. Geode Capital Management LLC increased its stake in Aurora Innovation by 15.5% in the 3rd quarter. Geode Capital Management LLC now owns 22,796,526 shares of the company’s stock valued at $134,981,000 after buying an additional 3,064,342 shares during the period. Finally, State Street Corp lifted its position in Aurora Innovation by 15.2% in the 3rd quarter. State Street Corp now owns 22,183,252 shares of the company’s stock worth $131,325,000 after buying an additional 2,920,653 shares in the last quarter. 44.71% of the stock is owned by institutional investors and hedge funds.

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.