Aurora Innovation (NASDAQ:AUR) Shares Down 1.5% - What's Next?

Key Points

• Aurora Innovation's stock declined by 1.5%, trading as low as $5.62 with a last trade at $5.69, significantly below its average daily volume.
• Multiple equity research analysts have raised their price targets for Aurora Innovation, with estimates ranging from $7.00 to $15.00, highlighting a generally positive outlook despite recent stock performance.
• Insider transactions showed significant activity, with Director John J. Donahoe acquiring 162,337 shares while another director sold 46,097 shares, indicating varied confidence among company leaders.

Shares of Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) fell 1.5% during trading on Friday . The stock traded as low as $5.62 and last traded at $5.69. 2,393,821 shares traded hands during trading, a decline of 88% from the average session volume of 19,440,984 shares. The stock had previously closed at $5.77.

Wall Street Analysts Forecast Growth

AUR has been the topic of a number of research reports. The Goldman Sachs Group lifted their price target on shares of Aurora Innovation from $6.00 to $7.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Needham & Company LLC raised their price objective 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. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $10.75.

Aurora Innovation Stock Up 3.0%

The company's fifty day moving average is $5.84 and its 200 day moving average is $6.37. The firm has a market cap of $10.70 billion, a price-to-earnings ratio of -12.34 and a beta of 2.48.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01. The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $0.50 million. On average, equities research analysts forecast that Aurora Innovation, Inc. will post -0.49 EPS for the current fiscal year.

Insider Activity at Aurora Innovation

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 value of $272,894.24. Following the completion of the transaction, the director directly owned 330,425 shares of the company's stock, 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 the SEC website. Also, Director John J. Donahoe bought 162,337 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were purchased at an average price of $6.10 per share, for a total transaction of $990,255.70. Following the completion of the acquisition, the director owned 162,337 shares of the company's stock, valued at $990,255.70. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 11.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AUR. Toyota Motor Corp bought a new stake in shares of Aurora Innovation in the 4th quarter valued at about $298,294,000. Lightspeed Management Company L.L.C. acquired a new position in Aurora Innovation during the fourth quarter worth approximately $74,003,000. Norges Bank bought a new stake in Aurora Innovation in the second quarter valued at approximately $42,421,000. Squarepoint Ops LLC raised its stake in Aurora Innovation by 3,256.1% in the second quarter. Squarepoint Ops LLC now owns 6,753,259 shares of the company's stock valued at $35,387,000 after buying an additional 6,552,034 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Aurora Innovation in the second quarter valued at approximately $31,250,000. Institutional investors 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.