Aurora Innovation (NASDAQ:AUR) Trading 3.6% Higher - Here's What Happened

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) shares rose 3.6% during mid-day trading on Thursday . The stock traded as high as $5.40 and last traded at $5.36. Approximately 3,850,092 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 14,698,574 shares. The stock had previously closed at $5.17.

Analyst Ratings Changes

Several equities analysts have recently commented on AUR shares. Oppenheimer started coverage on shares of Aurora Innovation in a research report on Thursday, March 27th. They set an "outperform" rating and a $15.00 price target on the stock. The Goldman Sachs Group lifted their target price on Aurora Innovation from $6.00 to $7.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Canaccord Genuity Group upped their target price on Aurora Innovation from $10.00 to $15.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, Needham & Company LLC raised their price target on 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's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.75.

Aurora Innovation Price Performance

The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of -11.01 and a beta of 2.48. The business has a fifty day moving average price of $6.16 and a 200 day moving average price of $6.68.

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

Insider Buying and Selling

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

Institutional Trading of Aurora Innovation

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp boosted its position in shares of Aurora Innovation by 1,681.6% in the 4th quarter. Jones Financial Companies Lllp now owns 24,051 shares of the company's stock valued at $152,000 after purchasing an additional 22,701 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Aurora Innovation by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,693,947 shares of the company's stock worth $54,772,000 after buying an additional 269,120 shares during the period. Victory Capital Management Inc. increased its position in shares of Aurora Innovation by 7.3% in the fourth quarter. Victory Capital Management Inc. now owns 120,485 shares of the company's stock worth $759,000 after acquiring an additional 8,194 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Aurora Innovation in the fourth quarter worth approximately $83,000. Finally, Arizona State Retirement System raised its holdings in shares of Aurora Innovation by 22.2% during the fourth quarter. Arizona State Retirement System now owns 271,196 shares of the company's stock valued at $1,709,000 after acquiring an additional 49,286 shares during the period. 44.71% of the stock is currently owned by institutional investors.

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.