Aurora Innovation (NASDAQ:AUR) Shares Gap Down – Should You Sell?

Aurora Innovation, Inc. (NASDAQ:AUR)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $7.34, but opened at $7.19. Aurora Innovation shares last traded at $7.06, with a volume of 538,663 shares.

Analyst Ratings Changes

AUR has been the topic of a number of analyst reports. Wolfe Research initiated coverage on Aurora Innovation in a report on Tuesday, November 26th. They issued a “peer perform” rating on the stock. TD Cowen increased their price target on shares of Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Canaccord Genuity Group reiterated a “buy” rating and set a $7.00 price objective on shares of Aurora Innovation in a research note on Monday, September 30th. 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 for the company. Finally, The Goldman Sachs Group boosted their target price on Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.70.

Aurora Innovation Stock Down 7.1 %

The stock has a market cap of $11.72 billion, a price-to-earnings ratio of -13.92 and a beta of 2.86. The stock’s 50 day moving average price is $6.42 and its two-hundred day moving average price is $4.90.

Insider Activity at Aurora Innovation

In related news, Director Gloria R. Boyland sold 30,000 shares of Aurora Innovation stock in a transaction dated 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 owns 344,647 shares in the company, valued at $2,171,276.10. The trade was a 8.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Reid Hoffman sold 1,393,874 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $5.45, for a total value of $7,596,613.30. Following the transaction, the director now owns 672,425 shares in the company, valued at $3,664,716.25. This represents a 67.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,776,667 shares of company stock worth $48,432,337. 13.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank increased its position in shares of Aurora Innovation by 10.0% during the third quarter. Amalgamated Bank now owns 32,006 shares of the company’s stock worth $189,000 after purchasing an additional 2,913 shares in the last quarter. ASB Consultores LLC raised its position in shares of Aurora Innovation by 24.0% in the third quarter. ASB Consultores LLC now owns 15,955 shares of the company’s stock valued at $94,000 after buying an additional 3,088 shares during the last quarter. Glenmede Trust Co. NA boosted its position in Aurora Innovation by 14.6% during the third quarter. Glenmede Trust Co. NA now owns 31,779 shares of the company’s stock worth $188,000 after acquiring an additional 4,054 shares during the last quarter. KBC Group NV raised its holdings in Aurora Innovation by 41.1% in the 3rd quarter. KBC Group NV now owns 26,092 shares of the company’s stock valued at $154,000 after acquiring an additional 7,595 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Aurora Innovation by 8.1% in the 2nd quarter. Victory Capital Management Inc. now owns 102,199 shares of the company’s stock worth $283,000 after purchasing an additional 7,624 shares in the last quarter. Hedge funds and other institutional investors own 44.71% of the company’s stock.

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.