Aurora Innovation (NASDAQ:AUR) Stock Price Down 1.8% - Here's What Happened

Key Points

• Aurora Innovation's stock fell by 1.8% to $6.13 amid a significant drop in trading volume of 83% compared to its average session.
• Analyst ratings for the stock have generally improved, with Canaccord Genuity raising the price target to $15.00 and Needham & Company adjusting it to $13.00, both giving "buy" ratings.
• Insider trading activity includes Director John J. Donahoe purchasing 162,337 shares valued at approximately $990,255, indicating increased confidence in the company.

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s share price fell 1.8% during trading on Tuesday . The stock traded as low as $6.03 and last traded at $6.13. 3,356,632 shares were traded during trading, a decline of 83% from the average session volume of 19,292,908 shares. The stock had previously closed at $6.24.

Analysts Set New Price Targets

AUR has been the subject of a number of recent analyst reports. Needham & Company LLC raised their price target on shares of Aurora Innovation from $10.00 to $13.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Canaccord Genuity Group boosted their target price on shares of 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 upped their target price 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. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Aurora Innovation presently has a consensus rating of "Moderate Buy" and an average target price of $10.75.

Aurora Innovation Stock Down 2.6%

The business has a 50-day simple moving average of $5.77 and a two-hundred day simple moving average of $6.50. The stock has a market capitalization of $11.79 billion, a price-to-earnings ratio of -13.60 and a beta of 2.49.

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 firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $0.50 million. On average, analysts forecast that Aurora Innovation, Inc. will post -0.49 EPS for the current year.

Insider Activity at Aurora Innovation

In other news, Director John J. Donahoe acquired 162,337 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average price of $6.10 per share, with a total value of $990,255.70. Following the purchase, the director owned 162,337 shares of the company's stock, valued at approximately $990,255.70. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gloria R. Boyland sold 46,097 shares of the business's stock in a transaction 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 sale, the director directly owned 330,425 shares in the company, valued at approximately $1,956,116. This trade represents a 12.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 11.85% of the company's stock.

Hedge Funds Weigh In On Aurora Innovation

Several institutional investors and hedge funds have recently bought and sold shares of AUR. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Aurora Innovation during the first quarter worth $32,000. Signaturefd LLC increased its holdings in shares of Aurora Innovation by 208.0% during the 1st quarter. Signaturefd LLC now owns 5,283 shares of the company's stock valued at $36,000 after acquiring an additional 3,568 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Aurora Innovation by 147.3% during the 1st quarter. GAMMA Investing LLC now owns 5,922 shares of the company's stock valued at $40,000 after acquiring an additional 3,527 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Aurora Innovation by 463.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 7,616 shares of the company's stock valued at $40,000 after acquiring an additional 6,264 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake 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 valued at $52,000 after acquiring an additional 2,085 shares in the last quarter. Hedge funds and other 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.