Aurora Innovation (NASDAQ:AUR) Trading Down 6.1% – Here’s Why

Aurora Innovation, Inc. (NASDAQ:AUR)’s share price traded down 6.1% on Monday . The company traded as low as $6.46 and last traded at $6.52. 2,654,240 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 9,157,833 shares. The stock had previously closed at $6.94.

Analyst Ratings Changes

Several research analysts recently commented on AUR shares. Evercore ISI lifted their price target on Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. Canaccord Genuity Group reissued a “buy” rating and set a $7.00 target price on shares of Aurora Innovation in a research report on Monday, September 30th. Cantor Fitzgerald initiated coverage on Aurora Innovation in a research report on Tuesday, December 10th. They issued an “overweight” rating and a $10.00 price target for the company. TD Cowen increased their target price on shares of Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group upped their price target on shares of Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $5.70.

Aurora Innovation Trading Down 2.6 %

The firm has a 50-day simple moving average of $6.45 and a 200-day simple moving average of $5.02. The firm has a market cap of $10.83 billion, a P/E ratio of -12.86 and a beta of 2.86.

Insider Activity at Aurora Innovation

In other Aurora Innovation news, Director Reid Hoffman sold 3,500,000 shares of Aurora Innovation stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $5.58, for a total transaction of $19,530,000.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gloria R. Boyland sold 30,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $6.30, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,776,667 shares of company stock valued at $48,432,337 over the last quarter. 13.83% of the stock is owned by corporate insiders.

Institutional Trading of Aurora Innovation

Several large investors have recently made changes to their positions in AUR. Bank of New York Mellon Corp boosted its stake in shares of Aurora Innovation by 273.5% in 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Aurora Innovation by 56.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 157,010 shares of the company’s stock valued at $435,000 after buying an additional 56,874 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Aurora Innovation by 143.4% in the second quarter. Principal Financial Group Inc. now owns 99,270 shares of the company’s stock worth $275,000 after acquiring an additional 58,477 shares during the period. nVerses Capital LLC purchased a new stake in shares of Aurora Innovation during the 2nd quarter worth about $73,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of Aurora Innovation during the 2nd quarter valued at about $90,000. 44.71% of the stock is owned by hedge funds and other 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.