Aurora Innovation (NASDAQ:AUR) Trading Down 2.4% - Here's What Happened

Key Points

• Aurora Innovation's stock price fell 2.4% to $6.41, with trading volume down 80% from its average, indicating decreased investor activity.
• Analysts have **mixed** views on Aurora's stock, with price targets ranging from $7.00 to $15.00; the company holds a consensus rating of "Moderate Buy" with an average target price of $10.75.
• Recent insider transactions include Director John J. Donahoe purchasing 162,337 shares at $6.10 per share, signifying strong confidence from company leadership in its future performance.

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s stock price traded down 2.4% during mid-day trading on Friday . The company traded as low as $6.33 and last traded at $6.41. 3,909,363 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 19,270,123 shares. The stock had previously closed at $6.56.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group raised their price objective 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. Needham & Company LLC lifted their price objective on Aurora Innovation from $10.00 to $13.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, The Goldman Sachs Group increased their target price on Aurora Innovation from $6.00 to $7.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Aurora Innovation presently has an average rating of "Moderate Buy" and an average target price of $10.75.

Aurora Innovation Stock Performance

The company has a 50 day moving average price of $5.78 and a two-hundred day moving average price of $6.49.

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

Insider Transactions at Aurora Innovation

In other Aurora Innovation news, Director John J. Donahoe purchased 162,337 shares of the stock in a transaction dated Wednesday, August 6th. The shares were acquired at an average cost of $6.10 per share, for a total transaction of $990,255.70. Following the completion of the transaction, the director directly owned 162,337 shares of the company's stock, valued at $990,255.70. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gloria R. Boyland sold 46,097 shares of the company'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 directly owned 330,425 shares in the company, valued at $1,956,116. The trade was 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

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