Aurora Innovation (NASDAQ:AUR) Stock Price Down 8.1% After Insider Selling

Aurora Innovation, Inc. (NASDAQ:AUR) was down 8.1% on Tuesday after an insider sold shares in the company. The company traded as low as $5.09 and last traded at $5.10. Approximately 1,694,545 shares changed hands during trading, a decline of 80% from the average daily volume of 8,637,591 shares. The stock had previously closed at $5.55.

Specifically, Director Reid Hoffman sold 1,393,874 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $5.45, for a total value of $7,596,613.30. Following the completion of the transaction, the director now owns 672,425 shares of the company’s stock, valued at $3,664,716.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Wall Street Analysts Forecast Growth

AUR has been the topic of several analyst reports. The Goldman Sachs Group boosted their price objective on shares of Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a research note on Monday. Canaccord Genuity Group reiterated a “buy” rating and issued a $7.00 price target on shares of Aurora Innovation in a research report on Monday, September 30th. Evercore ISI increased their price target on 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 lifted their price objective on Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st.

Aurora Innovation Stock Up 10.2 %

The stock’s 50-day simple moving average is $5.43 and its 200 day simple moving average is $3.96. The firm has a market cap of $8.96 billion, a P/E ratio of -11.65 and a beta of 2.82.

Institutional Investors Weigh In On Aurora Innovation

Large investors have recently added to or reduced their stakes in the business. KBC Group NV grew its stake in shares of Aurora Innovation by 41.1% in the 3rd quarter. KBC Group NV now owns 26,092 shares of the company’s stock valued at $154,000 after buying an additional 7,595 shares during the period. Souders Financial Advisors bought a new stake in shares of Aurora Innovation during the third quarter valued at approximately $59,000. Victory Capital Management Inc. raised its position in shares of Aurora Innovation by 9.9% during the third quarter. Victory Capital Management Inc. now owns 112,291 shares of the company’s stock worth $665,000 after purchasing an additional 10,092 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of Aurora Innovation by 17.2% in the 3rd 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 in the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new stake in Aurora Innovation in the 3rd quarter valued at $2,681,000. Institutional investors and hedge funds 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.