Aurora Innovation (NASDAQ:AUR) Stock Price Up 1.2% – Still a Buy?

Aurora Innovation, Inc. (NASDAQ:AUR)’s share price shot up 1.2% on Tuesday . The company traded as high as $6.95 and last traded at $6.87. 1,566,293 shares were traded during mid-day trading, a decline of 90% from the average session volume of 15,689,559 shares. The stock had previously closed at $6.79.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AUR shares. 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 report on Monday, October 14th. TD Cowen boosted their price target on Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a research note 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. Cantor Fitzgerald started coverage on Aurora Innovation in a research report on Tuesday, December 10th. They issued an “overweight” rating and a $10.00 target price for the company. Finally, Canaccord Genuity Group boosted their price target on shares of Aurora Innovation from $7.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Aurora Innovation has an average rating of “Hold” and a consensus price target of $6.30.

Aurora Innovation Stock Up 0.4 %

The stock has a fifty day moving average of $6.92 and a 200-day moving average of $5.67. The firm has a market capitalization of $11.71 billion, a P/E ratio of -13.91 and a beta of 2.85.

Insider Buying and Selling

In related news, Director Reid Hoffman sold 829,713 shares of Aurora Innovation stock in a transaction on Friday, November 8th. The stock was sold at an average price of $5.54, for a total transaction of $4,596,610.02. Following the completion of the sale, the director now directly owns 310,939 shares of the company’s stock, valued at $1,722,602.06. The trade was a 72.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gloria R. Boyland sold 30,000 shares of the firm’s 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 transaction, the director now 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. Insiders sold 7,382,793 shares of company stock worth $40,835,724 in the last quarter. Insiders own 13.83% of the company’s stock.

Hedge Funds Weigh In On Aurora Innovation

A number of hedge funds and other institutional investors have recently made changes to their positions in AUR. Baillie Gifford & Co. boosted its stake in Aurora Innovation by 17.2% in the 3rd quarter. Baillie Gifford & Co. now owns 84,904,647 shares of the company’s stock worth $502,636,000 after purchasing an additional 12,466,085 shares during the period. FMR LLC boosted its position in shares of Aurora Innovation by 206.1% during the third 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 period. Geode Capital Management LLC grew its holdings in shares of Aurora Innovation by 15.5% during the third quarter. Geode Capital Management LLC now owns 22,796,526 shares of the company’s stock worth $134,981,000 after buying an additional 3,064,342 shares in the last quarter. State Street Corp raised its position in Aurora Innovation by 15.2% in the 3rd quarter. State Street Corp now owns 22,183,252 shares of the company’s stock valued at $131,325,000 after buying an additional 2,920,653 shares during the last quarter. Finally, ARK Investment Management LLC acquired a new stake in shares of Aurora Innovation in the third quarter valued at approximately $12,433,000. 44.71% of the stock is owned by 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.