Aurora Innovation (NASDAQ:AUR) Trading Up 3% – Here’s What Happened

Aurora Innovation, Inc. (NASDAQ:AUR)’s share price rose 3% on Monday . The stock traded as high as $7.16 and last traded at $6.80. Approximately 9,567,935 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 13,758,352 shares. The stock had previously closed at $6.60.

Wall Street Analysts Forecast Growth

AUR has been the topic of a number of research analyst reports. TD Cowen lifted their target price on Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Evercore ISI lifted 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. Cantor Fitzgerald assumed coverage on shares of Aurora Innovation in a research note on Tuesday, December 10th. They set an “overweight” rating and a $10.00 target price for the company. Wolfe Research started coverage on shares of Aurora Innovation in a research report on Tuesday, November 26th. They issued a “peer perform” rating on the stock. Finally, The Goldman Sachs Group upped their price target on Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a report on Monday, November 4th. One investment 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, the stock has a consensus rating of “Hold” and an average price target of $6.30.

Aurora Innovation Stock Performance

The business’s 50 day simple moving average is $6.72 and its 200 day simple moving average is $5.45.

Insider Activity at Aurora Innovation

In related news, Director Gloria R. Boyland sold 30,000 shares of the company’s 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 transaction, the director now directly owns 344,647 shares of the company’s stock, valued at approximately $2,171,276.10. The trade was a 8.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Reid Hoffman sold 1,393,874 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 672,425 shares of the company’s stock, valued at $3,664,716.25. The trade was a 67.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 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

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in shares of Aurora Innovation by 40.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,380,479 shares of the company’s stock worth $8,172,000 after purchasing an additional 394,933 shares in the last quarter. Citigroup Inc. raised its position in Aurora Innovation by 229.4% during the third quarter. Citigroup Inc. now owns 705,181 shares of the company’s stock valued at $4,175,000 after acquiring an additional 491,125 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Aurora Innovation by 26.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,424,827 shares of the company’s stock valued at $49,875,000 after acquiring an additional 1,776,513 shares during the last quarter. Sterling Investment Advisors Ltd. bought a new stake in Aurora Innovation in the third quarter worth approximately $1,184,000. Finally, State Street Corp increased its stake in shares of Aurora Innovation by 15.2% during the 3rd quarter. State Street Corp now owns 22,183,252 shares of the company’s stock worth $131,325,000 after purchasing an additional 2,920,653 shares during the last quarter. 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.