Aurora Innovation (NASDAQ:AUR) Shares Gap Up – Time to Buy?

Shares of Aurora Innovation, Inc. (NASDAQ:AUR) 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 trading hands.

Wall Street Analyst Weigh In

AUR has been the subject of a number of research reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $7.00 price target on shares of Aurora Innovation in a research report on Monday, September 30th. TD Cowen increased their target price on Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a research note 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 report on Monday, November 4th. Finally, Evercore ISI upped their price target on Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a report on Monday, October 14th.

Aurora Innovation Price Performance

The stock has a 50-day moving average price of $5.63 and a 200-day moving average price of $4.12. The firm has a market capitalization of $10.72 billion, a PE ratio of -12.73 and a beta of 2.82.

Insider Buying and Selling at Aurora Innovation

In other Aurora Innovation news, Director Reid Hoffman sold 447,046 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $5.04, for a total transaction of $2,253,111.84. Following the completion of the transaction, the director now directly owns 26,892 shares of the company’s stock, valued at $135,535.68. This trade represents a 94.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 8,746,667 shares of company stock worth $48,243,337 in the last 90 days. 13.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Aurora Innovation

Large investors have recently modified their holdings of the stock. Baillie Gifford & Co. lifted its stake in Aurora Innovation by 78.4% during the second quarter. Baillie Gifford & Co. now owns 72,438,562 shares of the company’s stock worth $200,655,000 after purchasing an additional 31,841,994 shares during the last quarter. FMR LLC lifted its position in shares of 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 last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Aurora Innovation by 273.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,190,426 shares of the company’s stock valued at $14,377,000 after buying an additional 3,800,901 shares during the period. Geode Capital Management LLC grew its position 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 valued at $134,981,000 after buying an additional 3,064,342 shares during the last quarter. Finally, State Street Corp raised its stake in Aurora Innovation by 15.2% during the third quarter. State Street Corp now owns 22,183,252 shares of the company’s stock worth $131,325,000 after acquiring an additional 2,920,653 shares during the period. 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.