Aurora Innovation (NASDAQ:AUR) Trading Down 4.4% – Time to Sell?

Aurora Innovation, Inc. (NASDAQ:AUR) shares dropped 4.4% on Monday . The company traded as low as $6.51 and last traded at $6.52. Approximately 2,806,212 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 6,406,066 shares. The stock had previously closed at $6.82.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. TD Cowen increased their price objective 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. Evercore ISI upped their price objective 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 restated a “buy” rating and issued a $7.00 target price on shares of Aurora Innovation in a research note on Monday, September 30th. Cantor Fitzgerald began coverage on shares of Aurora Innovation in a research note on Tuesday, December 10th. They set an “overweight” rating and a $10.00 price target for the company. Finally, Wolfe Research assumed coverage on shares of Aurora Innovation in a research report on Tuesday, November 26th. They issued a “peer perform” rating on the stock. One 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, the stock currently has an average rating of “Hold” and a consensus price target of $5.70.

Aurora Innovation Stock Performance

The business has a fifty day simple moving average of $6.45 and a 200-day simple moving average of $5.09. The firm has a market cap of $11.14 billion, a price-to-earnings ratio of -13.22 and a beta of 2.86.

Insider Buying and Selling

In related news, Director Reid Hoffman sold 447,046 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $5.04, for a total value of $2,253,111.84. Following the transaction, the director now owns 26,892 shares in the company, valued at $135,535.68. The trade was a 94.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gloria R. Boyland sold 30,000 shares of the business’s 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 worth $48,432,337 in the last ninety days. Company insiders own 13.83% of the company’s stock.

Institutional Investors Weigh In On Aurora Innovation

Hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. grew its holdings in Aurora Innovation by 229.4% during the third quarter. Citigroup Inc. now owns 705,181 shares of the company’s stock valued at $4,175,000 after purchasing an additional 491,125 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Aurora Innovation by 26.7% in the third 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 in the last quarter. Sterling Investment Advisors Ltd. purchased a new stake in Aurora Innovation during the 3rd quarter worth about $1,184,000. State Street Corp boosted its stake 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 purchasing an additional 2,920,653 shares during the period. Finally, Creative Planning bought a new stake in shares of Aurora Innovation during the third quarter valued at about $652,000. 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.