Aurora Innovation (NASDAQ:AUR) Stock Price Up 4.1% – Should You Buy?

Aurora Innovation, Inc. (NASDAQ:AUR)’s stock price rose 4.1% during trading on Friday . The stock traded as high as $7.23 and last traded at $7.24. Approximately 1,880,603 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 17,791,326 shares. The stock had previously closed at $6.96.

Analyst Upgrades and Downgrades

AUR has been the topic of several recent analyst reports. TD Cowen increased their target price on Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Evercore ISI raised their price objective on Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a report on Monday, October 14th. The Goldman Sachs Group raised their price objective on Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a report on Monday, November 4th. Cantor Fitzgerald started coverage on Aurora Innovation in a report on Tuesday, December 10th. They set an “overweight” rating and a $10.00 price objective on the stock. Finally, Canaccord Genuity Group raised 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $6.30.

Aurora Innovation Price Performance

The firm has a market cap of $12.11 billion, a price-to-earnings ratio of -14.48 and a beta of 2.85. The firm’s 50 day moving average price is $6.79 and its two-hundred day moving average price is $5.49.

Insider Transactions at Aurora Innovation

In other news, Director Reid Hoffman sold 1,393,874 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 672,425 shares in the company, valued at approximately $3,664,716.25. This represents a 67.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gloria R. Boyland sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $6.30, for a total transaction of $189,000.00. Following the completion of the sale, the director now owns 344,647 shares of the company’s stock, valued at approximately $2,171,276.10. The trade was a 8.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders 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

A number of hedge funds have recently added to or reduced their stakes in AUR. Baillie Gifford & Co. lifted its position in Aurora Innovation by 17.2% in the third quarter. Baillie Gifford & Co. now owns 84,904,647 shares of the company’s stock valued at $502,636,000 after purchasing an additional 12,466,085 shares during the period. FMR LLC boosted its stake in shares of Aurora Innovation by 206.1% during the 3rd quarter. FMR LLC now owns 13,848,530 shares of the company’s stock worth $81,983,000 after acquiring an additional 9,325,013 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 worth $134,981,000 after acquiring an additional 3,064,342 shares in the last quarter. State Street Corp boosted its stake in shares of 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 acquiring an additional 2,920,653 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Aurora Innovation by 23.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,337,429 shares of the company’s stock worth $36,941,000 after acquiring an additional 2,502,002 shares in the last quarter. Institutional investors and hedge funds 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.