Aurora Innovation (NASDAQ:AUR) Shares Down 6.1% After Insider Selling

Aurora Innovation, Inc. (NASDAQ:AUR)’s stock price was down 6.1% during trading on Friday following insider selling activity. The stock traded as low as $5.02 and last traded at $5.05. Approximately 1,377,916 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 8,789,904 shares. The stock had previously closed at $5.38.

Specifically, Director Reid Hoffman sold 447,046 shares of Aurora Innovation stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $5.04, for a total value of $2,253,111.84. Following the sale, the director now owns 26,892 shares of the company’s stock, valued at approximately $135,535.68. The trade was a 94.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Reid Hoffman sold 1,181,400 shares of Aurora Innovation stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $5.60, for a total value of $6,615,840.00. Following the transaction, the director now owns 125,000 shares of the company’s stock, valued at $700,000. The trade was a 90.43 % decrease in their position. The disclosure for this sale can be found here. In other news, Director Reid Hoffman sold 856,797 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $5.49, for a total transaction of $4,703,815.53. Following the completion of the sale, the director now owns 268,099 shares in the company, valued at $1,471,863.51. The trade was a 76.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Analyst Ratings Changes

AUR has been the subject of a number of research analyst reports. Canaccord Genuity Group restated a “buy” rating and set a $7.00 price objective on shares of Aurora Innovation in a report on Monday, September 30th. The Goldman Sachs Group lifted their price objective on Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a report on Monday, November 4th. TD Cowen increased their price target on shares of Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Finally, Evercore ISI upped their target price on Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th.

Aurora Innovation Trading Down 7.2 %

The company’s 50-day simple moving average is $5.58 and its 200 day simple moving average is $4.09. The stock has a market cap of $8.57 billion, a P/E ratio of -10.18 and a beta of 2.82.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AUR. Amalgamated Bank lifted its holdings in shares of Aurora Innovation by 10.0% during the 3rd quarter. Amalgamated Bank now owns 32,006 shares of the company’s stock worth $189,000 after acquiring an additional 2,913 shares during the last quarter. ASB Consultores LLC increased its position in shares of Aurora Innovation by 24.0% during the third quarter. ASB Consultores LLC now owns 15,955 shares of the company’s stock valued at $94,000 after buying an additional 3,088 shares during the period. Glenmede Trust Co. NA increased its position in shares of Aurora Innovation by 14.6% during the third quarter. Glenmede Trust Co. NA now owns 31,779 shares of the company’s stock valued at $188,000 after buying an additional 4,054 shares during the period. Nisa Investment Advisors LLC grew its holdings in Aurora Innovation by 32.0% in the second quarter. Nisa Investment Advisors LLC now owns 19,412 shares of the company’s stock worth $54,000 after purchasing an additional 4,702 shares during the period. Finally, Empowered Funds LLC grew its holdings in Aurora Innovation by 44.1% in the first quarter. Empowered Funds LLC now owns 17,597 shares of the company’s stock worth $50,000 after purchasing an additional 5,386 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.