Canaccord Genuity Group Boosts Aurora Innovation (NASDAQ:AUR) Price Target to $10.00

Aurora Innovation (NASDAQ:AUR) had its target price upped by Canaccord Genuity Group from $7.00 to $10.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 24.07% from the stock’s current price.

Other equities analysts have also issued reports about the company. Wolfe Research initiated coverage on Aurora Innovation in a research report on Tuesday, November 26th. They set a “peer perform” rating on the stock. TD Cowen lifted their price objective on Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. The Goldman Sachs Group lifted 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. Evercore ISI lifted 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. Finally, Cantor Fitzgerald initiated 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. One 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $6.30.

Aurora Innovation Stock Performance

Aurora Innovation stock opened at $8.06 on Wednesday. The stock’s 50 day moving average price is $6.51 and its 200 day moving average price is $5.20. The firm has a market capitalization of $13.85 billion, a PE ratio of -16.45 and a beta of 2.85. Aurora Innovation has a one year low of $2.10 and a one year high of $9.83.

Insider Activity

In related news, Director Gloria R. Boyland sold 30,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Reid Hoffman sold 3,500,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was 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. The trade was a 90.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,776,667 shares of company stock worth $48,432,337. 13.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. boosted its position in Aurora Innovation by 17.2% during the 3rd quarter. Baillie Gifford & Co. now owns 84,904,647 shares of the company’s stock worth $502,636,000 after acquiring an additional 12,466,085 shares during the period. Geode Capital Management LLC boosted its position in 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 during the period. State Street Corp boosted 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 acquiring an additional 2,920,653 shares during the period. FMR LLC lifted its holdings in shares of Aurora Innovation by 206.1% in the third quarter. FMR LLC now owns 13,848,530 shares of the company’s stock valued at $81,983,000 after buying an additional 9,325,013 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Aurora Innovation by 23.1% in the second quarter. Dimensional Fund Advisors LP now owns 13,337,429 shares of the company’s stock valued at $36,941,000 after buying an additional 2,502,002 shares during the period. Institutional investors and hedge funds own 44.71% of the company’s stock.

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.