Aurora Innovation (NASDAQ:AUR) Shares Down 8.1% Following Insider Selling

Shares of Aurora Innovation, Inc. (NASDAQ:AUR) traded down 8.1% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $5.09 and last traded at $5.10. 1,694,545 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 8,637,591 shares. The stock had previously closed at $5.55.

Specifically, Director Reid Hoffman sold 1,393,874 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $5.45, for a total transaction of $7,596,613.30. Following the completion of the sale, the director now directly owns 672,425 shares of the company’s stock, valued at approximately $3,664,716.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AUR shares. The Goldman Sachs Group upped their price objective on shares of Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a research report on Monday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $7.00 price target on shares of Aurora Innovation in a research report on Monday, September 30th. Evercore ISI boosted their price objective 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. Finally, TD Cowen lifted their target price on Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st.

Aurora Innovation Trading Up 10.2 %

The stock has a market cap of $8.96 billion, a PE ratio of -11.65 and a beta of 2.82. The business has a 50-day moving average price of $5.43 and a 200 day moving average price of $3.96.

Institutional Trading of Aurora Innovation

A number of institutional investors have recently modified their holdings of AUR. Baillie Gifford & Co. boosted its position in shares of Aurora Innovation by 17.2% in 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 period. Vanguard Group Inc. boosted its holdings in Aurora Innovation by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 84,784,550 shares of the company’s stock valued at $239,092,000 after purchasing an additional 1,267,962 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Aurora Innovation by 23.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,337,429 shares of the company’s stock valued at $36,941,000 after purchasing an additional 2,502,002 shares in the last quarter. Primecap Management Co. CA grew its position in shares of Aurora Innovation by 1.0% during the 2nd quarter. Primecap Management Co. CA now owns 10,217,700 shares of the company’s stock valued at $28,303,000 after purchasing an additional 102,800 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Aurora Innovation by 273.5% in the second quarter. Bank of New York Mellon Corp now owns 5,190,426 shares of the company’s stock worth $14,377,000 after purchasing an additional 3,800,901 shares during the period. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

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.