Aurora Innovation (NASDAQ:AUR) Trading Down 7% – Here’s What Happened

Aurora Innovation, Inc. (NASDAQ:AUR)’s share price was down 7% during mid-day trading on Wednesday . The stock traded as low as $6.83 and last traded at $6.76. Approximately 3,341,713 shares traded hands during trading, a decline of 82% from the average daily volume of 18,775,697 shares. The stock had previously closed at $7.26.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AUR. TD Cowen boosted 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. Evercore ISI upped their target price on Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a report on Monday, October 14th. Canaccord Genuity Group boosted their price target on Aurora Innovation from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Cantor Fitzgerald started coverage on Aurora Innovation in a research note on Tuesday, December 10th. They set an “overweight” rating and a $10.00 price objective for the company. Finally, Wolfe Research assumed coverage on Aurora Innovation in a research note on Tuesday, November 26th. They issued a “peer perform” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Aurora Innovation has an average rating of “Hold” and a consensus price target of $6.30.

Aurora Innovation Trading Down 6.0 %

The company has a 50-day moving average of $6.72 and a 200-day moving average of $5.45. The company has a market capitalization of $11.73 billion, a price-to-earnings ratio of -13.85 and a beta of 2.85.

Insider Activity at Aurora Innovation

In other news, Director Gloria R. Boyland sold 30,000 shares of the 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 directly owns 344,647 shares of the company’s stock, valued at approximately $2,171,276.10. This represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Reid Hoffman sold 3,500,000 shares of Aurora Innovation stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $5.58, for a total value of $19,530,000.00. Following the sale, the director now directly owns 382,425 shares of the company’s stock, valued at $2,133,931.50. This trade represents a 90.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,776,667 shares of company stock valued at $48,432,337 in the last three months. 13.83% of the stock is owned by insiders.

Institutional Trading of Aurora Innovation

Several large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in Aurora Innovation by 40.1% in the third quarter. JPMorgan Chase & Co. now owns 1,380,479 shares of the company’s stock valued at $8,172,000 after purchasing an additional 394,933 shares during the last quarter. Citigroup Inc. grew its stake in shares of Aurora Innovation by 229.4% during the 3rd quarter. Citigroup Inc. now owns 705,181 shares of the company’s stock worth $4,175,000 after purchasing an additional 491,125 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Aurora Innovation by 26.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,424,827 shares of the company’s stock valued at $49,875,000 after purchasing an additional 1,776,513 shares during the period. Sterling Investment Advisors Ltd. purchased a new stake in Aurora Innovation during the third quarter worth $1,184,000. Finally, State Street Corp grew its position in Aurora Innovation by 15.2% during the third 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 period. 44.71% of the stock is owned by hedge funds and other 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.