Aurora Innovation (NASDAQ:AUR) Shares Down 3.9% - Here's Why

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

Wall Street Analysts Forecast Growth

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

Aurora Innovation Price Performance

The company has a market capitalization of $9.58 billion, a P/E ratio of -11.28 and a beta of 2.48. The company has a 50 day moving average of $6.04 and a 200-day moving average of $6.65.

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

Insiders Place Their Bets

In other Aurora Innovation news, Director Gloria R. Boyland sold 46,097 shares of the business's stock in a transaction 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 completion of the sale, the director directly owned 330,425 shares in the company, valued at approximately $1,956,116. The trade was a 12.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Aurora Innovation

Hedge funds and other institutional investors have recently modified their holdings of the stock. Toyota Motor Corp purchased a new stake in shares of Aurora Innovation in the 4th quarter worth $298,294,000. Uber Technologies Inc purchased a new stake in shares of Aurora Innovation in the 4th quarter worth $2,053,632,000. Cornerstone Wealth Management LLC increased its stake in shares of Aurora Innovation by 153.3% in the 1st quarter. Cornerstone Wealth Management LLC now owns 185,457 shares of the company's stock worth $1,247,000 after purchasing an additional 112,237 shares in the last quarter. Lightspeed Management Company L.L.C. purchased a new stake in shares of Aurora Innovation in the 4th quarter worth $74,003,000. Finally, Vanguard Group Inc. increased its stake in shares of Aurora Innovation by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 113,020,406 shares of the company's stock worth $712,029,000 after purchasing an additional 2,687,191 shares in the last quarter. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

Aurora Innovation Company Profile

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.