Aurora Innovation (NASDAQ:AUR) Stock Price Down 1.5% - Here's What Happened

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.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AUR shares. Needham & Company LLC upped 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. The Goldman Sachs Group upped their price target on Aurora Innovation from $6.00 to $7.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Finally, Canaccord Genuity Group upped their price target on Aurora Innovation from $10.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $10.75.

Aurora Innovation Trading Down 2.0%

The company has a market cap of $10.44 billion, a PE ratio of -12.05 and a beta of 2.49. The business has a 50 day simple moving average of $5.83 and a two-hundred day simple moving average of $6.43.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported ($0.11) earnings per share (EPS) 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 analyst estimates of $0.50 million. On average, equities research analysts expect that Aurora Innovation, Inc. will post -0.49 earnings per share for the current fiscal year.

Insider Transactions at Aurora Innovation

In related news, Director John J. Donahoe acquired 162,337 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average price of $6.10 per share, for a total transaction of $990,255.70. Following the completion of the purchase, the director directly owned 162,337 shares of the company's stock, valued at $990,255.70. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 transaction, the director owned 330,425 shares in the company, valued at $1,956,116. This represents a 12.24% decrease in their position. The disclosure for this sale can be found here. Company insiders own 11.85% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. CoreCap Advisors LLC grew its position in Aurora Innovation by 15.0% in the fourth quarter. CoreCap Advisors LLC now owns 13,177 shares of the company's stock worth $83,000 after buying an additional 1,717 shares during the last quarter. United Bank grew its position in Aurora Innovation by 17.0% during the 1st quarter. United Bank now owns 13,064 shares of the company's stock worth $88,000 after purchasing an additional 1,900 shares in the last quarter. Grimes & Company Inc. grew its position in Aurora Innovation by 18.2% during the 2nd quarter. Grimes & Company Inc. now owns 13,000 shares of the company's stock worth $68,000 after purchasing an additional 2,000 shares in the last quarter. Western Wealth Management LLC grew its position in Aurora Innovation by 4.4% during the 2nd quarter. Western Wealth Management LLC now owns 47,930 shares of the company's stock worth $251,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Aurora Innovation by 3.0% during the 1st quarter. Principal Financial Group Inc. now owns 70,652 shares of the company's stock worth $475,000 after purchasing an additional 2,061 shares in the last quarter. 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.

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