Aurora Innovation (NASDAQ:AUR) Shares Up 4.3% - Here's Why

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s share price traded up 4.3% on Friday . The company traded as high as $5.97 and last traded at $5.90. 3,416,988 shares traded hands during trading, a decline of 75% from the average session volume of 13,569,246 shares. The stock had previously closed at $5.65.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. 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. Needham & Company LLC increased their price target on Aurora Innovation from $10.00 to $13.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. 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. Canaccord Genuity Group increased their price target on Aurora Innovation from $10.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group increased their price target on Aurora Innovation from $6.00 to $7.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. Four 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.75.

Aurora Innovation Trading Up 0.2%

The stock has a market capitalization of $10.40 billion, a price-to-earnings ratio of -12.51 and a beta of 2.59. The firm has a 50-day moving average of $6.46 and a 200 day moving average of $6.89.

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

Insider Buying and Selling at Aurora Innovation

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

Hedge Funds Weigh In On Aurora Innovation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CoreCap Advisors LLC boosted its stake in Aurora Innovation by 15.0% during the 4th quarter. CoreCap Advisors LLC now owns 13,177 shares of the company's stock valued at $83,000 after purchasing an additional 1,717 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Aurora Innovation by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 35,587 shares of the company's stock worth $224,000 after acquiring an additional 1,723 shares during the last quarter. United Bank grew its holdings in shares of Aurora Innovation by 17.0% in the 1st quarter. United Bank now owns 13,064 shares of the company's stock worth $88,000 after acquiring an additional 1,900 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Aurora Innovation by 3.0% in the 1st quarter. Principal Financial Group Inc. now owns 70,652 shares of the company's stock worth $475,000 after acquiring an additional 2,061 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Aurora Innovation by 37.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,683 shares of the company's stock worth $52,000 after acquiring an additional 2,085 shares during the last quarter. 44.71% of the stock is owned by 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.