Aurora Innovation (NASDAQ:AUR) Stock Price Up 3% – Here’s What Happened

Shares of Aurora Innovation, Inc. (NASDAQ:AUR) shot up 3% on Monday . The company traded as high as $7.16 and last traded at $6.80. 9,567,935 shares were traded during mid-day trading, a decline of 30% from the average session volume of 13,758,352 shares. The stock had previously closed at $6.60.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AUR shares. The Goldman Sachs Group upped their target price on Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a research report on Monday, November 4th. Canaccord Genuity Group raised their price objective on shares of Aurora Innovation from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Wolfe Research assumed coverage on Aurora Innovation in a report on Tuesday, November 26th. They issued a “peer perform” rating for the company. TD Cowen raised their price objective on shares of Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Finally, Cantor Fitzgerald assumed coverage on shares of Aurora Innovation in a research note on Tuesday, December 10th. They set an “overweight” rating and a $10.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $6.30.

Aurora Innovation Trading Up 6.8 %

The stock has a fifty day moving average of $6.72 and a two-hundred day moving average of $5.45.

Insider Buying and Selling at Aurora Innovation

In other news, Director Reid Hoffman sold 3,500,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $5.58, for a total value of $19,530,000.00. Following the transaction, the director now owns 382,425 shares of the company’s stock, valued at approximately $2,133,931.50. This trade represents a 90.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gloria R. Boyland sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $6.30, for a total transaction of $189,000.00. Following the sale, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 8,776,667 shares of company stock worth $48,432,337. 13.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Aurora Innovation

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in Aurora Innovation by 40.1% during the third quarter. JPMorgan Chase & Co. now owns 1,380,479 shares of the company’s stock worth $8,172,000 after buying an additional 394,933 shares during the last quarter. Citigroup Inc. boosted its stake in 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 acquiring an additional 491,125 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Aurora Innovation by 26.7% in the third 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 in the last quarter. Sterling Investment Advisors Ltd. acquired a new stake in Aurora Innovation in the third quarter worth $1,184,000. Finally, State Street Corp boosted its position in shares of 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 purchasing an additional 2,920,653 shares in the last quarter. 44.71% of the stock is owned by institutional investors and hedge funds.

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.