Aurora Innovation (NASDAQ:AUR) Shares Down 2.2% - Here's Why

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s share price was down 2.2% during mid-day trading on Friday . The company traded as low as $5.49 and last traded at $5.57. Approximately 4,380,429 shares changed hands during trading, a decline of 68% from the average daily volume of 13,712,804 shares. The stock had previously closed at $5.69.

Analyst Ratings Changes

AUR has been the subject of several recent analyst reports. Needham & Company LLC raised their target price on shares of Aurora Innovation from $10.00 to $13.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Morgan Stanley started coverage on shares of Aurora Innovation in a research report on Monday, March 3rd. They issued an "overweight" rating and a $12.00 price target for the company. Evercore ISI upped their price objective on shares of Aurora Innovation from $5.00 to $6.00 and gave the stock an "in-line" rating in a research report on Tuesday, February 18th. The Goldman Sachs Group raised their target price on Aurora Innovation from $6.00 to $7.00 and gave the company a "neutral" rating in a report on Monday, May 12th. Finally, Oppenheimer assumed coverage on shares of Aurora Innovation in a report on Thursday, March 27th. They set an "outperform" rating and a $15.00 price target on the stock. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $10.75.

Aurora Innovation Stock Down 4.0%

The stock has a 50 day moving average of $6.45 and a 200 day moving average of $6.87. The company has a market capitalization of $9.66 billion, a price-to-earnings ratio of -11.62 and a beta of 2.59.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.01). As a group, sell-side analysts anticipate that Aurora Innovation, Inc. will post -0.49 EPS for the current fiscal year.

Insider Transactions at Aurora Innovation

In other Aurora Innovation news, Director Gloria R. Boyland sold 46,097 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $5.92, for a total value of $272,894.24. Following the completion of the sale, the director now owns 330,425 shares in the company, valued at approximately $1,956,116. This trade represents a 12.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 11.85% of the stock is owned by insiders.

Institutional Investors Weigh In On Aurora Innovation

Large investors have recently made changes to their positions in the business. Rhumbline Advisers increased its position in Aurora Innovation by 1.8% in the first quarter. Rhumbline Advisers now owns 1,410,036 shares of the company's stock worth $9,482,000 after buying an additional 24,584 shares during the last quarter. Strs Ohio purchased a new position in shares of Aurora Innovation during the 1st quarter valued at about $746,000. Acadian Asset Management LLC bought a new stake in Aurora Innovation in the first quarter worth $1,174,000. Intech Investment Management LLC grew its holdings in shares of Aurora Innovation by 41.7% in the first quarter. Intech Investment Management LLC now owns 620,181 shares of the company's stock worth $4,171,000 after purchasing an additional 182,573 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Aurora Innovation by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,046,760 shares of the company's stock worth $13,764,000 after buying an additional 127,953 shares during the period. 44.71% of the stock is 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.