Aurora Innovation (NASDAQ:AUR) Stock Price Down 6.3% - Time to Sell?

Key Points

• Aurora Innovation's stock price fell by 6.3%, trading between $5.90 and $6.04 during mid-day trading on Tuesday, with a volume decline of 29% from its average daily volume.
• Notable analysts have increased their price targets for Aurora Innovation, with Goldman Sachs raising their target to $7.00 and Canaccord Genuity setting it at $15.00, contributing to a consensus rating of "Moderate Buy".
• Insider trading activity included Director John J. Donahoe purchasing 162,337 shares at an average price of $6.10, which suggests confidence in the company despite the recent stock price drop.

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) shares traded down 6.3% on Tuesday . The stock traded as low as $5.90 and last traded at $6.04. 13,635,005 shares changed hands during trading, a decline of 29% from the average session volume of 19,316,094 shares. The stock had previously closed at $6.44.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group raised their price objective on Aurora Innovation from $6.00 to $7.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. Canaccord Genuity Group raised their price objective on Aurora Innovation from $10.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, Needham & Company LLC raised their price objective on Aurora Innovation from $10.00 to $13.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $10.75.

Aurora Innovation Price Performance

The stock has a fifty day moving average price of $5.80 and a 200-day moving average price of $6.47. The company has a market cap of $11.11 billion, a PE ratio of -12.81 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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $0.01. The business had revenue of $1.00 million during the quarter, compared to analysts' expectations of $0.50 million. On average, equities analysts anticipate that Aurora Innovation, Inc. will post -0.49 earnings per share for the current year.

Insiders Place Their Bets

In other Aurora Innovation news, Director John J. Donahoe bought 162,337 shares of Aurora Innovation stock in a transaction dated Wednesday, August 6th. The stock was bought at an average price of $6.10 per share, for a total transaction of $990,255.70. Following the completion of the acquisition, the director directly owned 162,337 shares of the company's stock, valued at approximately $990,255.70. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the sale, the director owned 330,425 shares of the company's stock, valued at $1,956,116. The trade was a 12.24% decrease in their position. The disclosure for this sale can be found here. 11.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Aurora Innovation

Hedge funds have recently bought and sold shares of the business. Toyota Motor Corp acquired a new position in Aurora Innovation during the fourth quarter worth $298,294,000. Uber Technologies Inc acquired a new position in Aurora Innovation during the fourth quarter worth $2,053,632,000. Cornerstone Wealth Management LLC increased its position in Aurora Innovation by 153.3% during the first quarter. Cornerstone Wealth Management LLC now owns 185,457 shares of the company's stock worth $1,247,000 after buying an additional 112,237 shares during the last quarter. Lightspeed Management Company L.L.C. acquired a new position in Aurora Innovation during the fourth quarter worth $74,003,000. Finally, Teacher Retirement System of Texas acquired a new position in Aurora Innovation during the first quarter worth $929,000. 44.71% of the stock is owned by institutional investors and hedge funds.

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.