Aurora Innovation (NASDAQ:AUR) Shares Down 4.4% – Here’s Why

Aurora Innovation, Inc. (NASDAQ:AUR)’s share price dropped 4.4% on Monday . The company traded as low as $6.51 and last traded at $6.52. Approximately 2,806,212 shares traded hands during trading, a decline of 56% from the average daily volume of 6,406,066 shares. The stock had previously closed at $6.82.

Analysts Set New Price Targets

A number of research firms recently commented on AUR. Canaccord Genuity Group lifted their price target on shares of Aurora Innovation from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday. Cantor Fitzgerald assumed coverage on shares of Aurora Innovation in a research report on Tuesday, December 10th. They set an “overweight” rating and a $10.00 price target for the company. The Goldman Sachs Group upped their target price on shares of Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a research report on Monday, November 4th. TD Cowen raised their price target on Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Finally, Evercore ISI lifted their target price on shares of 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.30.

Aurora Innovation Price Performance

The stock has a market capitalization of $13.85 billion, a PE ratio of -16.45 and a beta of 2.85. The firm has a fifty day moving average price of $6.48 and a two-hundred day moving average price of $5.18.

Insider Transactions at Aurora Innovation

In other Aurora Innovation news, Director Reid Hoffman sold 1,393,874 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $5.45, for a total transaction of $7,596,613.30. Following the transaction, the director now directly owns 672,425 shares of the company’s stock, valued at $3,664,716.25. This trade represents a 67.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gloria R. Boyland sold 30,000 shares of Aurora Innovation 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 sale, the director now directly owns 344,647 shares in the company, valued at approximately $2,171,276.10. This trade represents a 8.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 8,776,667 shares of company stock valued at $48,432,337. Corporate insiders own 13.83% of the company’s stock.

Hedge Funds Weigh In On Aurora Innovation

Several hedge funds have recently bought and sold shares of the company. Profund Advisors LLC acquired a new stake in Aurora Innovation during the 2nd quarter worth approximately $46,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Aurora Innovation during the second quarter worth $51,000. Souders Financial Advisors purchased a new stake in Aurora Innovation during the third quarter valued at about $59,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Aurora Innovation in the 3rd quarter valued at $60,000. Finally, Sigma Planning Corp acquired a new position in shares of Aurora Innovation during the third quarter worth about $63,000. Institutional investors and hedge funds own 44.71% of the company’s stock.

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.