Aurora Innovation (NASDAQ:AUR) Trading Up 1.1% - Here's What Happened

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) shot up 1.1% during mid-day trading on Wednesday . The company traded as high as $5.36 and last traded at $5.26. 1,905,176 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 14,787,926 shares. The stock had previously closed at $5.20.

Analyst Ratings Changes

A number of research firms have issued reports on AUR. The Goldman Sachs Group raised their price target 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. Canaccord Genuity Group raised their price target 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. 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 target for the company. Finally, Needham & Company LLC raised their price target 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. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $10.75.

Aurora Innovation Stock Down 2.8%

The stock's 50 day moving average price is $5.95 and its two-hundred day moving average price is $6.62.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last released its quarterly earnings data 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). Research analysts forecast that Aurora Innovation, Inc. will post -0.49 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Gloria R. Boyland sold 46,097 shares of the firm'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 sale, the director owned 330,425 shares in the company, valued at approximately $1,956,116. This trade represents a 12.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 11.85% of the company's stock.

Institutional Trading of Aurora Innovation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Uber Technologies Inc acquired a new stake in shares of Aurora Innovation in the fourth quarter valued at about $2,053,632,000. Vanguard Group Inc. grew its position in shares of Aurora Innovation by 2.1% in the first quarter. Vanguard Group Inc. now owns 115,413,401 shares of the company's stock valued at $776,155,000 after purchasing an additional 2,392,995 shares during the period. Toyota Motor Corp acquired a new stake in shares of Aurora Innovation in the fourth quarter valued at about $298,294,000. Price T Rowe Associates Inc. MD grew its position in shares of Aurora Innovation by 13.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,671,319 shares of the company's stock valued at $168,030,000 after purchasing an additional 3,237,609 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Aurora Innovation by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 23,374,230 shares of the company's stock valued at $147,292,000 after purchasing an additional 577,704 shares during the period. Institutional investors and hedge funds 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.