Aurora Innovation (NASDAQ:AUR) Trading 1.9% Higher – Here’s Why

Aurora Innovation, Inc. (NASDAQ:AUR) shares shot up 1.9% during trading on Wednesday . The company traded as high as $6.98 and last traded at $6.89. 4,033,302 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 16,413,875 shares. The stock had previously closed at $6.76.

Analyst Ratings Changes

AUR has been the topic of several recent analyst reports. Evercore ISI boosted their price objective on shares of Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. Canaccord Genuity Group boosted their price target on Aurora Innovation from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. TD Cowen raised their price objective on Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Wolfe Research started coverage on Aurora Innovation in a report on Tuesday, November 26th. They set a “peer perform” rating on the stock. Finally, Cantor Fitzgerald began coverage on Aurora Innovation in a research note on Tuesday, December 10th. They issued an “overweight” rating and a $10.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Aurora Innovation has an average rating of “Hold” and an average price target of $6.30.

Aurora Innovation Stock Down 0.1 %

The company has a market cap of $11.69 billion, a P/E ratio of -13.88 and a beta of 2.85. The stock has a 50 day moving average price of $6.90 and a two-hundred day moving average price of $5.62.

Insiders Place Their Bets

In other Aurora Innovation news, 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 value of $189,000.00. Following the completion of the transaction, the director now directly owns 344,647 shares of the company’s stock, valued at $2,171,276.10. The trade was a 8.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Reid Hoffman sold 3,500,000 shares of the stock in a transaction 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 sale, the director now directly owns 382,425 shares in the company, valued at approximately $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 have sold 8,776,667 shares of company stock worth $48,432,337 in the last 90 days. Company insiders own 13.83% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Baillie Gifford & Co. boosted its holdings in shares of Aurora Innovation by 17.2% in the 3rd quarter. Baillie Gifford & Co. now owns 84,904,647 shares of the company’s stock valued at $502,636,000 after purchasing an additional 12,466,085 shares in the last quarter. FMR LLC lifted its position in shares of Aurora Innovation by 206.1% during the 3rd quarter. FMR LLC now owns 13,848,530 shares of the company’s stock worth $81,983,000 after buying an additional 9,325,013 shares during the last quarter. Geode Capital Management LLC boosted its stake in Aurora Innovation by 15.5% in the third 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 in the last quarter. State Street Corp grew its position in Aurora Innovation by 15.2% in the third quarter. State Street Corp now owns 22,183,252 shares of the company’s stock valued at $131,325,000 after acquiring an additional 2,920,653 shares during the last quarter. Finally, ARK Investment Management LLC acquired a new position in Aurora Innovation during the third quarter worth about $12,433,000. Institutional investors and hedge funds 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.