Aurora Innovation (NASDAQ:AUR) Sets New 1-Year High – Still a Buy?

Aurora Innovation, Inc. (NASDAQ:AUR) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $10.37 and last traded at $10.59, with a volume of 9171235 shares changing hands. The stock had previously closed at $9.42.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AUR shares. TD Cowen upped 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Aurora Innovation in a research note on Thursday. 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. Canaccord Genuity Group raised their price target on shares of Aurora Innovation from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group raised their price target on shares of Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a report on Monday, November 4th. 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $6.30.

Aurora Innovation Stock Performance

The firm has a market capitalization of $18.21 billion, a PE ratio of -21.71 and a beta of 2.85. The company’s 50-day moving average price is $7.04 and its 200-day moving average price is $5.80.

Aurora Innovation (NASDAQ:AUR) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.11) EPS for the quarter. As a group, analysts anticipate that Aurora Innovation, Inc. will post -0.47 earnings per share for the current year.

Insider Buying and Selling

In other Aurora Innovation news, Director Reid Hoffman sold 537,837 shares of Aurora Innovation 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 transaction, the director now directly owns 286,247 shares in the company, valued at approximately $1,568,633.56. The trade was a 65.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gloria R. Boyland sold 30,000 shares of the business’s 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 13.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On Aurora Innovation

A number of institutional investors have recently modified their holdings of AUR. Baillie Gifford & Co. raised its position in shares of Aurora Innovation by 17.2% in the third quarter. Baillie Gifford & Co. now owns 84,904,647 shares of the company’s stock valued at $502,636,000 after buying an additional 12,466,085 shares during the last quarter. FMR LLC increased its position in Aurora Innovation by 206.1% during the third quarter. FMR LLC now owns 13,848,530 shares of the company’s stock worth $81,983,000 after purchasing an additional 9,325,013 shares during the last quarter. Norges Bank acquired a new position in Aurora Innovation during the fourth quarter worth approximately $45,772,000. Price T Rowe Associates Inc. MD increased its position in Aurora Innovation by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,671,319 shares of the company’s stock worth $168,030,000 after purchasing an additional 3,237,609 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Aurora Innovation by 15.5% during the third quarter. Geode Capital Management LLC now owns 22,796,526 shares of the company’s stock worth $134,981,000 after purchasing an additional 3,064,342 shares during the last quarter. Institutional investors and hedge funds own 44.71% of the company’s stock.

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.