Aurora Innovation (NASDAQ:AUR) Stock Price Down 2% - Should You Sell?

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s stock price fell 2% during mid-day trading on Friday . The company traded as low as $5.20 and last traded at $5.23. 4,075,250 shares changed hands during trading, a decline of 77% from the average session volume of 17,751,682 shares. The stock had previously closed at $5.33.

Analysts Set New Price Targets

Several research firms recently commented on AUR. Oppenheimer began coverage on Aurora Innovation in a research report on Thursday, March 27th. They set an "outperform" rating and a $15.00 price objective on the stock. The Goldman Sachs Group raised their price target on shares of Aurora Innovation from $6.00 to $7.00 and gave the company a "neutral" rating in a report on Monday, May 12th. TD Cowen assumed coverage on shares of Aurora Innovation in a research note on Friday, March 7th. They issued a "hold" rating and a $8.00 price target for the company. Canaccord Genuity Group boosted their price objective on shares of Aurora Innovation from $10.00 to $15.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, Needham & Company LLC raised their target price 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. Four equities research 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 company currently has an average rating of "Moderate Buy" and a consensus target price of $10.75.

Aurora Innovation Stock Performance

The company's 50-day moving average price is $6.35 and its 200 day moving average price is $6.84. The stock has a market cap of $9.59 billion, a PE ratio of -11.29 and a beta of 2.59.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.01). On average, sell-side analysts anticipate that Aurora Innovation, Inc. will post -0.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Gloria R. Boyland sold 46,097 shares of the 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 sale, the director now owns 330,425 shares of the company's stock, valued at approximately $1,956,116. This represents a 12.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Twin Tree Management LP lifted its position in Aurora Innovation by 217.2% during the fourth quarter. Twin Tree Management LP now owns 4,450 shares of the company's stock valued at $28,000 after acquiring an additional 3,047 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Aurora Innovation in the first quarter worth about $32,000. Signaturefd LLC grew its holdings in Aurora Innovation by 208.0% during the first quarter. Signaturefd LLC now owns 5,283 shares of the company's stock worth $36,000 after acquiring an additional 3,568 shares during the period. GAMMA Investing LLC grew its holdings in Aurora Innovation by 147.3% during the first quarter. GAMMA Investing LLC now owns 5,922 shares of the company's stock worth $40,000 after acquiring an additional 3,527 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in Aurora Innovation by 37.2% during the first 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. 44.71% of the stock is currently 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.