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

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.

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

Analyst Ratings Changes

Several research firms have recently weighed in on AUR. The Goldman Sachs Group lifted their price objective on Aurora Innovation from $6.00 to $7.00 and gave the company a "neutral" rating in a report on Monday, May 12th. Canaccord Genuity Group boosted their target price on Aurora Innovation from $10.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, Needham & Company LLC boosted 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. Four 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 currently has a consensus rating of "Moderate Buy" and an average price target of $10.75.

Aurora Innovation Trading Up 1.2%

The company has a 50-day moving average price of $5.72 and a two-hundred day moving average price of $6.50. The stock has a market capitalization of $11.65 billion, a P/E ratio of -13.44 and a beta of 2.49.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates of ($0.12) by $0.01. The company had revenue of $1.00 million for the quarter, compared to the consensus estimate of $0.50 million. Research analysts forecast that Aurora Innovation, Inc. will post -0.49 earnings per share for the current year.

Insider Buying and Selling at Aurora Innovation

In related news, Director John J. Donahoe purchased 162,337 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was bought at an average cost of $6.10 per share, with a total value of $990,255.70. Following the completion of the purchase, the director directly owned 162,337 shares in the company, valued at approximately $990,255.70. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gloria R. Boyland sold 46,097 shares of Aurora Innovation stock in a transaction that occurred 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 sale, the director owned 330,425 shares in the company, valued at $1,956,116. This represents a 12.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aurora Innovation

A number of institutional investors have recently made changes to their positions in AUR. Uber Technologies Inc purchased a new stake in shares of Aurora Innovation during the 4th quarter valued at about $2,053,632,000. Vanguard Group Inc. raised its holdings in Aurora Innovation by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 115,413,401 shares of the company's stock worth $776,155,000 after purchasing an additional 2,392,995 shares during the period. Toyota Motor Corp bought a new stake in Aurora Innovation during the fourth quarter valued at about $298,294,000. Price T Rowe Associates Inc. MD raised its stake in shares of Aurora Innovation by 13.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,671,319 shares of the company's stock worth $168,030,000 after buying an additional 3,237,609 shares during the period. Finally, Durable Capital Partners LP raised its stake in shares of Aurora Innovation by 17.0% in the first quarter. Durable Capital Partners LP now owns 14,922,269 shares of the company's stock worth $100,352,000 after buying an additional 2,165,114 shares during the period. 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.

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