Aurora Innovation (NASDAQ:AUR) Shares Gap Up – Time to Buy?

Aurora Innovation, Inc. (NASDAQ:AUR)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $6.45, but opened at $6.83. Aurora Innovation shares last traded at $8.21, with a volume of 4,727,666 shares.

Wall Street Analyst Weigh In

AUR has been the topic of several recent research reports. The Goldman Sachs Group increased their price objective on Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a research report on Monday, November 4th. TD Cowen raised 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. Canaccord Genuity Group boosted their price objective on shares of Aurora Innovation from $7.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Wolfe Research initiated coverage on shares of Aurora Innovation in a report on Tuesday, November 26th. They set a “peer perform” rating on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of Aurora Innovation in a research report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $6.30.

Aurora Innovation Stock Up 33.1 %

The business’s 50 day moving average is $7.04 and its 200-day moving average is $5.80. The firm has a market capitalization of $14.75 billion, a P/E ratio of -17.52 and a beta of 2.85.

Aurora Innovation (NASDAQ:AUR) last issued its earnings results on Wednesday, February 12th. The company reported ($0.11) earnings per share for the quarter. Research analysts forecast that Aurora Innovation, Inc. will post -0.47 EPS for the current fiscal year.

Insider Activity at Aurora Innovation

In other Aurora Innovation news, Director Gloria R. Boyland sold 30,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 344,647 shares of the company’s stock, valued at approximately $2,171,276.10. The trade was a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Reid Hoffman sold 447,046 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $5.04, for a total transaction of $2,253,111.84. Following the transaction, the director now directly owns 26,892 shares in the company, valued at approximately $135,535.68. This represents a 94.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,014,883 shares of company stock worth $5,389,459 over the last ninety days. Insiders own 13.83% of the company’s stock.

Institutional Trading of Aurora Innovation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in Aurora Innovation by 40.1% in the third quarter. JPMorgan Chase & Co. now owns 1,380,479 shares of the company’s stock valued at $8,172,000 after acquiring an additional 394,933 shares during the period. Citigroup Inc. lifted its holdings in shares of 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 in the last quarter. 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 valued at $49,875,000 after purchasing an additional 1,776,513 shares during the period. Sterling Investment Advisors Ltd. acquired a new stake in Aurora Innovation in the 3rd quarter valued at $1,184,000. Finally, State Street Corp increased its stake in Aurora Innovation by 15.2% during the 3rd quarter. State Street Corp now owns 22,183,252 shares of the company’s stock valued at $131,325,000 after purchasing an additional 2,920,653 shares in the last quarter. 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.