Aurora Innovation (NASDAQ:AUR) Shares Down 8.1% After Insider Selling

Aurora Innovation, Inc. (NASDAQ:AUR)’s share price fell 8.1% during trading on Tuesday following insider selling activity. The company traded as low as $5.09 and last traded at $5.10. 1,694,545 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 8,637,591 shares. The stock had previously closed at $5.55.

Specifically, Director Reid Hoffman sold 1,393,874 shares of Aurora Innovation stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $5.45, for a total transaction of $7,596,613.30. Following the completion of the transaction, the director now directly owns 672,425 shares in the company, valued at $3,664,716.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AUR shares. TD Cowen boosted their price target on Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Evercore ISI increased their price target on Aurora Innovation from $3.00 to $5.00 and gave the company an “in-line” rating in a report on Monday, October 14th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $7.00 target price on shares of Aurora Innovation in a report on Monday, September 30th. Finally, The Goldman Sachs Group increased their target price on Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a report on Monday.

Aurora Innovation Trading Up 0.4 %

The stock has a market capitalization of $8.99 billion, a price-to-earnings ratio of -11.65 and a beta of 2.82. The firm has a 50-day moving average of $5.43 and a 200 day moving average of $3.96.

Hedge Funds Weigh In On Aurora Innovation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its stake in shares of Aurora Innovation by 44.1% during the 1st quarter. Empowered Funds LLC now owns 17,597 shares of the company’s stock worth $50,000 after acquiring an additional 5,386 shares in the last quarter. Swiss National Bank raised its holdings in shares of Aurora Innovation by 15.2% during the first quarter. Swiss National Bank now owns 1,355,500 shares of the company’s stock worth $3,823,000 after acquiring an additional 178,900 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Aurora Innovation by 14.5% in the first quarter. ProShare Advisors LLC now owns 64,179 shares of the company’s stock worth $181,000 after purchasing an additional 8,142 shares during the period. Vanguard Group Inc. increased its stake in shares of Aurora Innovation by 1.5% in 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. Finally, American International Group Inc. increased its stake in shares of Aurora Innovation by 4.6% in the first quarter. American International Group Inc. now owns 176,045 shares of the company’s stock worth $496,000 after purchasing an additional 7,773 shares during the period. 44.71% of the stock is 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.