Aurora Innovation (NASDAQ:AUR) Trading 8% Higher – Should You Buy?

Aurora Innovation, Inc. (NASDAQ:AUR) rose 8% during trading on Friday . The company traded as high as $6.59 and last traded at $6.59. Approximately 1,479,238 shares traded hands during trading, a decline of 69% from the average daily volume of 4,759,461 shares. The stock had previously closed at $6.10.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AUR shares. Canaccord Genuity Group reiterated a “buy” rating and set a $7.00 price target on shares of Aurora Innovation in a research note on Monday, September 30th. The Goldman Sachs Group lifted their target price on shares of Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a research note on Monday, November 4th. Wolfe Research initiated coverage on shares of Aurora Innovation in a research note on Tuesday, November 26th. They set a “peer perform” rating on the stock. Evercore ISI lifted their price objective on shares of Aurora Innovation from $3.00 to $5.00 and gave the company an “in-line” rating in a research note on Monday, October 14th. Finally, TD Cowen boosted their target price on shares of Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Aurora Innovation currently has an average rating of “Hold” and a consensus target price of $5.70.

Aurora Innovation Stock Up 11.8 %

The stock has a market capitalization of $11.72 billion, a P/E ratio of -13.92 and a beta of 2.86. The company has a 50-day moving average price of $6.45 and a two-hundred day moving average price of $5.07.

Insider Activity at Aurora Innovation

In other news, Director Gloria R. Boyland sold 30,000 shares of Aurora Innovation stock in a transaction dated 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 sale, the director now owns 344,647 shares in the company, valued at approximately $2,171,276.10. This trade represents a 8.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Reid Hoffman sold 3,500,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 382,425 shares in the company, valued at approximately $2,133,931.50. This trade represents a 90.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,776,667 shares of company stock valued at $48,432,337. Corporate insiders own 13.83% of the company’s stock.

Institutional Investors Weigh In On Aurora Innovation

Several hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. lifted its stake in Aurora Innovation by 17.2% during the third quarter. Baillie Gifford & Co. now owns 84,904,647 shares of the company’s stock worth $502,636,000 after purchasing an additional 12,466,085 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 valued at $134,981,000 after buying an additional 3,064,342 shares in the last quarter. State Street Corp lifted its position in Aurora Innovation by 15.2% in the 3rd 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 during the last quarter. FMR LLC boosted its stake in Aurora Innovation by 206.1% in 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. Finally, Dimensional Fund Advisors LP boosted its stake in Aurora Innovation by 23.1% in the second quarter. Dimensional Fund Advisors LP now owns 13,337,429 shares of the company’s stock worth $36,941,000 after buying an additional 2,502,002 shares in the last quarter. 44.71% of the stock is currently 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.