Canaccord Genuity Group Issues Positive Forecast for Aurora Innovation (NASDAQ:AUR) Stock Price

Aurora Innovation (NASDAQ:AUR) had its price objective hoisted by equities research analysts at Canaccord Genuity Group from $7.00 to $10.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 19.19% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Cantor Fitzgerald began 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 on the stock. TD Cowen upped 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. The Goldman Sachs Group raised their target price on Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a research note on Monday, November 4th. Wolfe Research initiated coverage on Aurora Innovation in a report on Tuesday, November 26th. They issued a “peer perform” rating for the company. Finally, Evercore ISI upped their target price on shares of Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.30.

Aurora Innovation Stock Up 29.1 %

Shares of Aurora Innovation stock opened at $8.39 on Wednesday. The company has a market cap of $14.42 billion, a PE ratio of -17.12 and a beta of 2.85. The business has a 50 day moving average of $6.48 and a 200 day moving average of $5.18. Aurora Innovation has a 52 week low of $2.10 and a 52 week high of $9.83.

Insider Buying and Selling at Aurora Innovation

In other Aurora Innovation news, Director Gloria R. Boyland sold 30,000 shares of the firm’s 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 trade represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Reid Hoffman sold 3,500,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $5.58, for a total transaction 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. The trade was a 90.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety 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

Institutional investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. increased its position in Aurora Innovation by 17.2% in the third quarter. Baillie Gifford & Co. now owns 84,904,647 shares of the company’s stock worth $502,636,000 after buying an additional 12,466,085 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 acquiring an additional 3,064,342 shares in the last quarter. State Street Corp grew its holdings in shares of Aurora Innovation by 15.2% in the third 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 in the last quarter. FMR LLC increased its position in Aurora Innovation by 206.1% in the third quarter. FMR LLC now owns 13,848,530 shares of the company’s stock worth $81,983,000 after purchasing an additional 9,325,013 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Aurora Innovation by 23.1% during the second quarter. Dimensional Fund Advisors LP now owns 13,337,429 shares of the company’s stock valued at $36,941,000 after purchasing an additional 2,502,002 shares in the last quarter. 44.71% of the stock is currently owned by 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.