Aurora Innovation (NASDAQ:AUR) Trading Down 4.7% – Time to Sell?

Aurora Innovation, Inc. (NASDAQ:AUR)’s share price traded down 4.7% on Thursday . The stock traded as low as $7.01 and last traded at $7.02. 774,313 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 9,080,011 shares. The stock had previously closed at $7.37.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Canaccord Genuity Group restated a “buy” rating and issued a $7.00 target price on shares of Aurora Innovation in a research note on Monday, September 30th. Evercore ISI boosted their price target on Aurora Innovation from $3.00 to $5.00 and gave the company an “in-line” rating in a research note on Monday, October 14th. The Goldman Sachs Group raised their price objective 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. Wolfe Research began coverage on shares of Aurora Innovation in a research report on Tuesday, November 26th. They issued a “peer perform” rating for the company. Finally, TD Cowen raised their price target on shares of Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Aurora Innovation has an average rating of “Hold” and a consensus price target of $5.70.

Aurora Innovation Stock Down 5.3 %

The stock’s 50-day moving average price is $6.14 and its 200 day moving average price is $4.59. The firm has a market cap of $11.98 billion, a price-to-earnings ratio of -14.22 and a beta of 2.86.

Insider Buying and Selling at Aurora Innovation

In related news, Director Gloria R. Boyland sold 30,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 344,647 shares in the company, valued at $2,171,276.10. This trade represents a 8.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Reid Hoffman sold 1,393,874 shares of the stock in a transaction on 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 transaction, the director now owns 672,425 shares of the company’s stock, valued at $3,664,716.25. This represents a 67.46 % 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 valued at $48,432,337 in the last 90 days. 13.83% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. acquired a new stake in shares of Aurora Innovation in the 3rd quarter valued at $72,000. Virtu Financial LLC acquired a new stake in Aurora Innovation in the third quarter worth about $337,000. Geode Capital Management LLC raised its holdings in Aurora Innovation by 15.5% during the 3rd quarter. Geode Capital Management LLC now owns 22,796,526 shares of the company’s stock worth $134,981,000 after purchasing an additional 3,064,342 shares during the last quarter. Abel Hall LLC acquired a new position in Aurora Innovation during the 3rd quarter valued at about $88,000. Finally, Barclays PLC boosted its stake in shares of Aurora Innovation by 431.9% in the 3rd quarter. Barclays PLC now owns 1,709,749 shares of the company’s stock valued at $10,122,000 after purchasing an additional 1,388,307 shares during the last quarter. 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.