Aurora Innovation (NASDAQ:AUR) Shares Down 6.1% – Here’s What Happened

Aurora Innovation, Inc. (NASDAQ:AUR) shares dropped 6.1% during mid-day trading on Friday . The company traded as low as $5.02 and last traded at $5.05. Approximately 1,377,916 shares traded hands during trading, a decline of 84% from the average daily volume of 8,789,904 shares. The stock had previously closed at $5.38.

Analyst Upgrades and Downgrades

AUR has been the topic of a number of recent research reports. The Goldman Sachs Group lifted their price target on shares of Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a research report on Monday, November 4th. Evercore ISI upped their price target on shares of Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. Canaccord Genuity Group reissued a “buy” rating and issued a $7.00 price objective on shares of Aurora Innovation in a research report on Monday, September 30th. Finally, TD Cowen increased their target price on Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a research note on Thursday, October 31st.

Aurora Innovation Stock Performance

The stock’s fifty day moving average is $5.53 and its two-hundred day moving average is $4.06. The firm has a market capitalization of $8.63 billion, a price-to-earnings ratio of -10.18 and a beta of 2.82.

Insider Buying and Selling

In other Aurora Innovation news, Director Reid Hoffman sold 856,797 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $5.49, for a total transaction of $4,703,815.53. Following the transaction, the director now directly owns 268,099 shares in the company, valued at $1,471,863.51. This represents a 76.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 6,580,384 shares of company stock worth $36,427,039. 13.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Aurora Innovation

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Souders Financial Advisors bought a new stake in Aurora Innovation during the third quarter valued at $59,000. Dynamic Technology Lab Private Ltd acquired a new stake in Aurora Innovation during the third quarter worth about $60,000. Sigma Planning Corp acquired a new stake in Aurora Innovation during the third quarter worth about $63,000. Sequoia Financial Advisors LLC acquired a new position in Aurora Innovation in the second quarter valued at approximately $30,000. Finally, ASB Consultores LLC grew its holdings in shares of Aurora Innovation by 24.0% during the third quarter. ASB Consultores LLC now owns 15,955 shares of the company’s stock valued at $94,000 after purchasing an additional 3,088 shares during the last quarter. 44.71% of the stock is owned by institutional investors.

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.