Aurora Innovation (NASDAQ:AUR) Stock Price Up 3% – What’s Next?

Aurora Innovation, Inc. (NASDAQ:AUR)’s stock price shot up 3% during mid-day trading on Monday . The company traded as high as $7.16 and last traded at $6.80. 9,567,935 shares were traded during mid-day trading, a decline of 30% from the average session volume of 13,758,352 shares. The stock had previously closed at $6.60.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wolfe Research initiated coverage on shares of Aurora Innovation in a research report on Tuesday, November 26th. They set a “peer perform” rating for the company. TD Cowen lifted their price target on shares of Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. The Goldman Sachs Group boosted their target price on Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a research note on Monday, November 4th. Canaccord Genuity Group lifted their price objective on Aurora Innovation from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Cantor Fitzgerald began coverage on shares of Aurora Innovation in a research report on Tuesday, December 10th. They set an “overweight” rating and a $10.00 target price for the company. One research 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’s stock. Based on data from MarketBeat, Aurora Innovation presently has an average rating of “Hold” and an average target price of $6.30.

Aurora Innovation Price Performance

The business’s fifty day moving average price is $6.69 and its 200-day moving average price is $5.42. The stock has a market capitalization of $11.69 billion, a PE ratio of -13.88 and a beta of 2.85.

Insider Activity

In other Aurora Innovation news, Director Gloria R. Boyland sold 30,000 shares of Aurora Innovation stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $6.30, for a total transaction of $189,000.00. Following the completion of the sale, the director now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Reid Hoffman sold 537,837 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $5.48, for a total transaction of $2,947,346.76. Following the completion of the transaction, the director now directly owns 286,247 shares in the company, valued at $1,568,633.56. The trade was a 65.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,776,667 shares of company stock worth $48,432,337 in the last three months. Corporate insiders own 13.83% of the company’s stock.

Institutional Investors Weigh In On Aurora Innovation

Several institutional investors have recently bought and sold shares of AUR. JPMorgan Chase & Co. raised its stake in shares of Aurora Innovation by 40.1% during 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 last quarter. Citigroup Inc. grew its position 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 buying an additional 491,125 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Aurora Innovation by 26.7% during 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 buying an additional 1,776,513 shares during the period. Sterling Investment Advisors Ltd. bought a new position in shares of Aurora Innovation during the third quarter valued at approximately $1,184,000. Finally, State Street Corp boosted 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 in the last quarter. 44.71% of the stock is currently owned by hedge funds and other 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.