Aurora Innovation (NASDAQ:AUR) Trading Down 8.4% – What’s Next?

Aurora Innovation, Inc. (NASDAQ:AUR)’s share price was down 8.4% during trading on Wednesday . The stock traded as low as $7.28 and last traded at $7.38. Approximately 7,662,718 shares were traded during trading, a decline of 16% from the average daily volume of 9,160,759 shares. The stock had previously closed at $8.06.

Wall Street Analysts Forecast Growth

AUR has been the subject of a number of analyst reports. Evercore ISI boosted their price target on Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. TD Cowen boosted their price objective 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. Cantor Fitzgerald started coverage on shares of Aurora Innovation in a research note on Tuesday, December 10th. They issued an “overweight” rating and a $10.00 target price on the stock. Wolfe Research assumed coverage on shares of Aurora Innovation in a research report on Tuesday, November 26th. They set a “peer perform” rating for the company. Finally, The Goldman Sachs Group boosted their price objective on Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.70.

Aurora Innovation Price Performance

The firm has a 50 day moving average of $6.31 and a 200-day moving average of $4.73. The stock has a market capitalization of $12.36 billion, a P/E ratio of -14.67 and a beta of 2.86.

Insiders Place Their Bets

In other news, Director Reid Hoffman sold 3,500,000 shares of the business’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 value of $19,530,000.00. Following the transaction, the director now directly owns 382,425 shares of the company’s stock, valued at $2,133,931.50. The trade was a 90.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gloria R. Boyland sold 30,000 shares of Aurora Innovation stock in a transaction on Tuesday, November 26th. The shares were 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 owns 344,647 shares of the company’s stock, valued at approximately $2,171,276.10. The trade was a 8.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,776,667 shares of company stock worth $48,432,337 over the last 90 days. Corporate insiders own 13.83% of the company’s stock.

Hedge Funds Weigh In On Aurora Innovation

A number of large investors have recently modified their holdings of the stock. Baillie Gifford & Co. grew its position in shares of Aurora Innovation by 17.2% during the 3rd quarter. Baillie Gifford & Co. now owns 84,904,647 shares of the company’s stock worth $502,636,000 after buying an additional 12,466,085 shares during the period. Geode Capital Management LLC boosted its position in shares of Aurora Innovation by 15.5% in the 3rd quarter. Geode Capital Management LLC now owns 22,796,526 shares of the company’s stock worth $134,981,000 after purchasing an additional 3,064,342 shares during the last quarter. State Street Corp grew its stake in shares of Aurora Innovation by 15.2% during 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 period. FMR LLC lifted its stake in Aurora Innovation by 206.1% in the third quarter. FMR LLC now owns 13,848,530 shares of the company’s stock valued at $81,983,000 after buying an additional 9,325,013 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Aurora Innovation by 23.1% during the second quarter. Dimensional Fund Advisors LP now owns 13,337,429 shares of the company’s stock worth $36,941,000 after buying an additional 2,502,002 shares during the last quarter. 44.71% of the stock is currently 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.