Aurora Innovation (NASDAQ:AUR) Trading Up 8.7% – Should You Buy?

Aurora Innovation, Inc. (NASDAQ:AUR) shot up 8.7% during trading on Wednesday . The company traded as high as $7.00 and last traded at $6.97. 3,062,725 shares were traded during mid-day trading, a decline of 86% from the average session volume of 22,029,111 shares. The stock had previously closed at $6.41.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a research report on Monday, November 4th. TD Cowen increased their price target on Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Evercore ISI lifted their price objective on shares of Aurora Innovation from $3.00 to $5.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. Canaccord Genuity Group increased their price objective on Aurora Innovation from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Wolfe Research initiated coverage on Aurora Innovation in a report on Tuesday, November 26th. They set a “peer perform” rating on the stock. One research 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, the stock presently has an average rating of “Hold” and a consensus target price of $6.30.

Aurora Innovation Price Performance

The firm has a 50 day moving average price of $6.63 and a 200-day moving average price of $5.34. The firm has a market cap of $11.91 billion, a price-to-earnings ratio of -14.14 and a beta of 2.85.

Insiders Place Their Bets

In other Aurora Innovation news, Director Gloria R. Boyland sold 30,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $6.30, for a total transaction of $189,000.00. Following the transaction, the director now owns 344,647 shares in the company, valued at $2,171,276.10. This represents a 8.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Reid Hoffman sold 1,393,874 shares of Aurora Innovation stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $5.45, for a total transaction of $7,596,613.30. Following the sale, the director now directly owns 672,425 shares in the company, valued at $3,664,716.25. This trade represents a 67.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,776,667 shares of company stock worth $48,432,337. Company insiders own 13.83% of the company’s stock.

Institutional Investors Weigh In On Aurora Innovation

Hedge funds and other institutional investors have recently bought and sold shares of the company. Baillie Gifford & Co. grew its holdings in shares of Aurora Innovation by 17.2% during the third 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 last quarter. FMR LLC raised its stake in shares of Aurora Innovation by 206.1% during the third quarter. FMR LLC now owns 13,848,530 shares of the company’s stock valued at $81,983,000 after acquiring an additional 9,325,013 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Aurora Innovation by 15.5% during 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 period. 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 worth $131,325,000 after purchasing an additional 2,920,653 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Aurora Innovation by 23.1% during the second quarter. Dimensional Fund Advisors LP now owns 13,337,429 shares of the company’s stock worth $36,941,000 after buying an additional 2,502,002 shares during the period. Institutional investors own 44.71% of the company’s stock.

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.