Aurora Innovation (NASDAQ:AUR) Shares Gap Up – Here’s What Happened

Aurora Innovation, Inc. (NASDAQ:AUR)’s share price gapped up prior to trading on Monday . The stock had previously closed at $4.99, but opened at $5.45. Aurora Innovation shares last traded at $5.34, with a volume of 1,553,610 shares.

Wall Street Analyst Weigh In

AUR has been the subject of several recent research reports. The Goldman Sachs Group boosted their price target on Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a research note on Monday, November 4th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $7.00 target price on shares of Aurora Innovation in a research note on Monday, September 30th. Evercore ISI lifted their price target 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. Finally, TD Cowen boosted their price objective on shares of Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st.

Aurora Innovation Trading Up 22.0 %

The stock has a market cap of $10.47 billion, a P/E ratio of -11.84 and a beta of 2.82. The company’s 50-day simple moving average is $5.58 and its 200 day simple moving average is $4.10.

Insider Activity

In related news, Director Reid Hoffman sold 1,393,874 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $5.45, for a total value of $7,596,613.30. Following the completion of the transaction, the director now directly owns 672,425 shares in the company, valued at approximately $3,664,716.25. The trade was a 67.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 8,208,830 shares of company stock valued at $45,295,991 in the last 90 days. Insiders own 13.83% of the company’s stock.

Hedge Funds Weigh In On Aurora Innovation

A number of large investors have recently modified their holdings of the company. Baillie Gifford & Co. raised its position 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. Vanguard Group Inc. boosted its holdings in shares of Aurora Innovation by 1.5% during the first quarter. Vanguard Group Inc. now owns 84,784,550 shares of the company’s stock worth $239,092,000 after purchasing an additional 1,267,962 shares during the period. Geode Capital Management LLC grew its stake in shares of Aurora Innovation by 15.5% in the third 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. State Street Corp raised its position in Aurora Innovation by 15.2% during the 3rd quarter. State Street Corp now owns 22,183,252 shares of the company’s stock valued at $131,325,000 after purchasing an additional 2,920,653 shares during the last quarter. Finally, FMR LLC lifted its holdings in Aurora Innovation by 206.1% in the 3rd 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. 44.71% of the stock is owned by hedge funds and other 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.