Aurora Innovation (NASDAQ:AUR) Stock Price Down 4.7% - Time to Sell?

Key Points

• Aurora Innovation's stock price fell by 4.7%, closing at $5.54, with trading volume significantly down by 55% compared to its average.
• Despite the recent decline, analysts remain optimistic with a consensus rating of "Moderate Buy" and a price target averaging at $10.75.
• Insider trading activity revealed that Director Gloria R. Boyland sold 46,097 shares recently, reducing her ownership in the company by 12.24%.

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s share price dropped 4.7% on Friday . The company traded as low as $5.36 and last traded at $5.54. Approximately 8,517,865 shares traded hands during trading, a decline of 55% from the average daily volume of 19,033,152 shares. The stock had previously closed at $5.81.

Wall Street Analysts Forecast Growth

AUR has been the topic of a number of research analyst reports. Canaccord Genuity Group increased their price target on shares of Aurora Innovation from $10.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Needham & Company LLC increased their price objective on Aurora Innovation from $10.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, The Goldman Sachs Group increased their price objective on Aurora Innovation from $6.00 to $7.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $10.75.

Aurora Innovation Price Performance

The stock has a market capitalization of $9.90 billion, a PE ratio of -11.90 and a beta of 2.48. The firm has a fifty day moving average price of $5.72 and a two-hundred day moving average price of $6.54.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.01. The business had revenue of $1.00 million for the quarter, compared to analysts' expectations of $0.50 million. On average, 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 other news, Director Gloria R. Boyland sold 46,097 shares of Aurora Innovation stock in a transaction on Friday, June 6th. The stock was 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 approximately $1,956,116. The trade was a 12.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.85% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. bought a new position in Aurora Innovation in the first quarter valued at $32,000. Signaturefd LLC lifted its position 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 period. GAMMA Investing LLC lifted its stake in Aurora Innovation by 147.3% in 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 last quarter. Farther Finance Advisors LLC raised its position in shares of Aurora Innovation by 463.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 7,616 shares of the company's stock worth $40,000 after acquiring an additional 6,264 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings 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 worth $52,000 after purchasing an additional 2,085 shares in the last quarter. 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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