Cantor Fitzgerald Reaffirms Overweight Rating for Aurora Innovation (NASDAQ:AUR)

Aurora Innovation (NASDAQ:AUR)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $10.00 price target on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 19.93% from the stock’s current price.

A number of other brokerages have also recently issued reports on AUR. Canaccord Genuity Group lifted their price target on shares of Aurora Innovation from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Wolfe Research started coverage on shares of Aurora Innovation in a report on Tuesday, November 26th. They set a “peer perform” rating for the company. TD Cowen upped their price target on Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group raised their price objective on Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Aurora Innovation currently has a consensus rating of “Hold” and a consensus target price of $6.30.

Aurora Innovation Trading Up 29.3 %

Aurora Innovation stock traded up $1.89 during trading hours on Thursday, hitting $8.34. 10,129,386 shares of the stock traded hands, compared to its average volume of 14,814,269. Aurora Innovation has a one year low of $2.10 and a one year high of $9.83. The firm’s 50-day moving average price is $7.04 and its two-hundred day moving average price is $5.80. The company has a market cap of $14.33 billion, a PE ratio of -16.96 and a beta of 2.85.

Aurora Innovation (NASDAQ:AUR) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.11) earnings per share for the quarter. On average, sell-side analysts expect that Aurora Innovation will post -0.47 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Gloria R. Boyland sold 30,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was 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 owns 344,647 shares in the company, valued at $2,171,276.10. The trade was a 8.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Reid Hoffman sold 537,837 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $5.48, for a total value of $2,947,346.76. Following the sale, the director now directly owns 286,247 shares in the company, valued at $1,568,633.56. This trade represents a 65.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,014,883 shares of company stock worth $5,389,459 over the last 90 days. 13.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Aurora Innovation

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its stake in shares of Aurora Innovation by 40.1% in the third quarter. JPMorgan Chase & Co. now owns 1,380,479 shares of the company’s stock worth $8,172,000 after acquiring an additional 394,933 shares during the period. Citigroup Inc. grew its position in Aurora Innovation by 229.4% in the 3rd quarter. Citigroup Inc. now owns 705,181 shares of the company’s stock worth $4,175,000 after purchasing an additional 491,125 shares during the period. Charles Schwab Investment Management Inc. grew its position in Aurora Innovation by 26.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,424,827 shares of the company’s stock worth $49,875,000 after purchasing an additional 1,776,513 shares during the period. Sterling Investment Advisors Ltd. purchased a new stake in Aurora Innovation during the 3rd quarter valued at $1,184,000. Finally, State Street Corp lifted its holdings in Aurora Innovation by 15.2% in the third quarter. State Street Corp now owns 22,183,252 shares of the company’s stock valued at $131,325,000 after acquiring an additional 2,920,653 shares during the period. Institutional investors 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.