Aurora Innovation (NASDAQ:AUR) Stock Price Down 2.2% - Time to Sell?

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AUR. Evercore ISI boosted their price target on Aurora Innovation from $5.00 to $6.00 and gave the stock an "in-line" rating in a report on Tuesday, February 18th. Canaccord Genuity Group lifted their price target on shares of Aurora Innovation from $10.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. The Goldman Sachs Group upped their target price on shares of Aurora Innovation from $6.00 to $7.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. TD Cowen assumed coverage on Aurora Innovation in a report on Friday, March 7th. They set a "hold" rating and a $8.00 price objective for the company. Finally, Oppenheimer began coverage on Aurora Innovation in a report on Thursday, March 27th. They issued an "outperform" rating and a $15.00 target price on the stock. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $10.75.

Aurora Innovation Trading Up 1.6%

The stock has a market capitalization of $9.82 billion, a P/E ratio of -11.81 and a beta of 2.59. The stock's 50-day moving average price is $6.45 and its two-hundred day moving average price is $6.87.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.01). On average, equities research analysts predict that Aurora Innovation, Inc. will post -0.49 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Gloria R. Boyland sold 46,097 shares of the company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $5.92, for a total value of $272,894.24. Following the completion of the transaction, the director now directly owns 330,425 shares in the company, valued at approximately $1,956,116. This represents a 12.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Aurora Innovation

Several institutional investors and hedge funds have recently made changes to their positions in the business. Yousif Capital Management LLC purchased a new position in shares of Aurora Innovation in the fourth quarter worth about $65,000. Rhumbline Advisers increased its stake in shares of Aurora Innovation by 5.2% during the fourth quarter. Rhumbline Advisers now owns 1,385,452 shares of the company's stock valued at $8,728,000 after buying an additional 68,674 shares during the period. CIBC Asset Management Inc increased its position in Aurora Innovation by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 35,587 shares of the company's stock valued at $224,000 after purchasing an additional 1,723 shares during the period. Handelsbanken Fonder AB grew its holdings in shares of Aurora Innovation by 43.3% during the 4th quarter. Handelsbanken Fonder AB now owns 239,600 shares of the company's stock worth $1,509,000 after acquiring an additional 72,400 shares during the period. Finally, Winebrenner Capital Management LLC bought a new position in Aurora Innovation in the fourth quarter worth $70,000. Institutional investors 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.