Aurora Innovation (NASDAQ:AUR) Trading Up 4.8% – Here’s What Happened

Aurora Innovation, Inc. (NASDAQ:AUR) shares were up 4.8% on Thursday . The stock traded as high as $6.35 and last traded at $6.32. Approximately 2,970,171 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 8,965,154 shares. The stock had previously closed at $6.03.

Analyst Upgrades and Downgrades

AUR has been the subject of a number of analyst reports. Wolfe Research initiated coverage on shares of Aurora Innovation in a report on Tuesday, November 26th. They set a “peer perform” rating for the company. Evercore ISI increased their price objective on Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. TD Cowen upped their price target on Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. The Goldman Sachs Group raised their price objective on Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a research note on Monday, November 4th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $7.00 target price on shares of Aurora Innovation in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Aurora Innovation presently has a consensus rating of “Hold” and an average target price of $4.63.

Aurora Innovation Stock Performance

The stock’s 50 day moving average price is $5.90 and its 200-day moving average price is $4.37. The company has a market cap of $11.34 billion, a PE ratio of -13.16 and a beta of 2.86.

Insider Transactions at Aurora Innovation

In other news, Director Reid Hoffman sold 447,046 shares of Aurora Innovation stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $5.04, for a total value of $2,253,111.84. Following the sale, the director now directly owns 26,892 shares in the company, valued at approximately $135,535.68. This trade represents a 94.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gloria R. Boyland sold 30,000 shares of the firm’s 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 sale, 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,776,667 shares of company stock worth $48,432,337. Insiders own 13.83% of the company’s stock.

Hedge Funds Weigh In On Aurora Innovation

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC bought a new stake in Aurora Innovation in the second quarter worth $30,000. Profund Advisors LLC bought a new position in Aurora Innovation in the 2nd quarter worth about $46,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Aurora Innovation during the 2nd quarter valued at about $51,000. Diversified Portfolios Inc. bought a new stake in Aurora Innovation during the 2nd quarter valued at about $54,000. Finally, Nisa Investment Advisors LLC raised its holdings in Aurora Innovation by 32.0% in the second quarter. Nisa Investment Advisors LLC now owns 19,412 shares of the company’s stock worth $54,000 after buying an additional 4,702 shares during the last quarter. Hedge funds and other institutional investors 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.