Aurora Innovation (NASDAQ:AUR) Stock Price Down 3.9% - Time to Sell?

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) was down 3.9% during mid-day trading on Monday . The stock traded as low as $5.07 and last traded at $5.10. Approximately 3,336,558 shares traded hands during trading, a decline of 77% from the average daily volume of 14,770,098 shares. The stock had previously closed at $5.30.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AUR shares. The Goldman Sachs Group boosted their price target on shares of Aurora Innovation from $6.00 to $7.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Needham & Company LLC upped their price objective on shares of Aurora Innovation from $10.00 to $13.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Canaccord Genuity Group upped their price objective on shares of Aurora Innovation from $10.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Oppenheimer began coverage on shares of Aurora Innovation in a report on Thursday, March 27th. They issued an "outperform" rating and a $15.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Aurora Innovation presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.75.

Aurora Innovation Price Performance

The firm's 50 day moving average price is $6.12 and its 200-day moving average price is $6.67. The stock has a market cap of $9.04 billion, a P/E ratio of -10.65 and a beta of 2.48.

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

Insider Activity

In related news, Director Gloria R. Boyland sold 46,097 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $5.92, for a total transaction of $272,894.24. Following the transaction, the director owned 330,425 shares in the company, valued at $1,956,116. This represents a 12.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 11.85% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its position in Aurora Innovation by 1.8% during the first quarter. Rhumbline Advisers now owns 1,410,036 shares of the company's stock valued at $9,482,000 after purchasing an additional 24,584 shares during the period. Strs Ohio purchased a new stake in Aurora Innovation during the first quarter valued at approximately $746,000. Acadian Asset Management LLC purchased a new stake in Aurora Innovation during the first quarter valued at approximately $1,174,000. Intech Investment Management LLC increased its holdings in Aurora Innovation by 41.7% during the first quarter. Intech Investment Management LLC now owns 620,181 shares of the company's stock valued at $4,171,000 after buying an additional 182,573 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Aurora Innovation by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,046,760 shares of the company's stock valued at $13,764,000 after buying an additional 127,953 shares during the last quarter. 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.