Aurora Innovation (NASDAQ:AUR) Stock Price Down 8.4% – Here’s What Happened

Aurora Innovation, Inc. (NASDAQ:AUR)’s share price fell 8.4% during trading on Wednesday . The company traded as low as $7.28 and last traded at $7.38. 7,662,718 shares changed hands during trading, a decline of 16% from the average session volume of 9,160,759 shares. The stock had previously closed at $8.06.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AUR. Evercore ISI boosted 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. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $7.00 target price on shares of Aurora Innovation in a report on Monday, September 30th. Cantor Fitzgerald began coverage on Aurora Innovation in a report on Tuesday, December 10th. They issued an “overweight” rating and a $10.00 target price for the company. 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. Finally, 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 report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $5.70.

Aurora Innovation Trading Down 11.2 %

The firm has a 50-day moving average of $6.24 and a 200 day moving average of $4.70. The company has a market cap of $12.30 billion, a P/E ratio of -14.61 and a beta of 2.86.

Insider Transactions at Aurora Innovation

In other Aurora Innovation news, Director Reid Hoffman sold 1,393,874 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $5.45, for a total value of $7,596,613.30. Following the completion of the sale, the director now directly owns 672,425 shares of the company’s stock, valued at $3,664,716.25. This trade represents a 67.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gloria R. Boyland sold 30,000 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $6.30, for a total value of $189,000.00. Following the completion of the sale, the director now directly owns 344,647 shares of the company’s stock, valued at $2,171,276.10. This represents a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,776,667 shares of company stock valued at $48,432,337 over the last ninety days. 13.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Aurora Innovation

A number of large investors have recently made changes to their positions in AUR. Baillie Gifford & Co. grew its position 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 buying an additional 31,841,994 shares in the last quarter. FMR LLC grew its position in Aurora Innovation by 206.1% during the third 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 in the last quarter. Bank of New York Mellon Corp grew its position in Aurora Innovation by 273.5% during the second quarter. Bank of New York Mellon Corp now owns 5,190,426 shares of the company’s stock worth $14,377,000 after buying an additional 3,800,901 shares in the last quarter. Geode Capital Management LLC grew its position in 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 buying an additional 3,064,342 shares in the last quarter. Finally, State Street Corp grew its position 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 buying an additional 2,920,653 shares in the last quarter. 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.