Aurora Innovation (NASDAQ:AUR) Stock Price Up 2.9% - Still a Buy?

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) shares traded up 2.9% on Wednesday . The stock traded as high as $6.08 and last traded at $6.13. 5,725,198 shares were traded during trading, a decline of 58% from the average session volume of 13,666,204 shares. The stock had previously closed at $5.95.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Evercore ISI increased their price target on Aurora Innovation from $5.00 to $6.00 and gave the stock an "in-line" rating in a research report on Tuesday, February 18th. TD Cowen assumed coverage on Aurora Innovation in a research report on Friday, March 7th. They set a "hold" rating and a $8.00 price target on the stock. Morgan Stanley assumed coverage on Aurora Innovation in a research report on Monday, March 3rd. They set an "overweight" rating and a $12.00 price target on the stock. The Goldman Sachs Group increased their target price on shares of Aurora Innovation from $6.00 to $7.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. Finally, Canaccord Genuity Group increased their target price on shares of Aurora Innovation from $10.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $10.75.

Aurora Innovation Stock Performance

The stock has a market capitalization of $9.66 billion, a PE ratio of -11.62 and a beta of 2.59. The stock's 50 day moving average is $6.45 and its two-hundred day moving average is $6.87.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last issued its quarterly 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). Equities research analysts expect that Aurora Innovation, Inc. will post -0.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gloria R. Boyland sold 46,097 shares of the firm's 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 completion of the sale, the director now owns 330,425 shares in the company, valued at $1,956,116. This trade represents a 12.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 11.85% of the company's stock.

Institutional Trading of Aurora Innovation

Several institutional investors have recently added to or reduced their stakes in AUR. Uber Technologies Inc acquired a new position in shares of Aurora Innovation in the fourth quarter worth $2,053,632,000. Toyota Motor Corp acquired a new position in shares of Aurora Innovation in the fourth quarter worth $298,294,000. Lightspeed Management Company L.L.C. acquired a new position in shares of Aurora Innovation in the fourth quarter worth $74,003,000. Norges Bank acquired a new position in shares of Aurora Innovation in the fourth quarter worth $45,772,000. Finally, Price T Rowe Associates Inc. MD grew its stake 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 worth $168,030,000 after acquiring an additional 3,237,609 shares in the last quarter. Institutional investors and hedge funds own 44.71% of the company's stock.

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.