Aurora Innovation (NASDAQ:AUR) Shares Down 6.3% - What's Next?

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) dropped 6.3% during mid-day trading on Tuesday . The company traded as low as $5.90 and last traded at $6.04. Approximately 13,635,005 shares traded hands during trading, a decline of 29% from the average daily volume of 19,316,094 shares. The stock had previously closed at $6.44.

Analyst Upgrades and Downgrades

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

Aurora Innovation Stock Up 2.9%

The firm has a market cap of $11.11 billion, a price-to-earnings ratio of -12.81 and a beta of 2.49. The company's 50-day moving average price is $5.80 and its 200-day moving average price is $6.47.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last issued its quarterly 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 during the quarter, compared to analysts' expectations of $0.50 million. Analysts predict that Aurora Innovation, Inc. will post -0.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Aurora Innovation news, Director John J. Donahoe bought 162,337 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average price of $6.10 per share, with a total value of $990,255.70. Following the completion of the acquisition, the director directly owned 162,337 shares of the company's stock, valued at $990,255.70. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gloria R. Boyland sold 46,097 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $5.92, for a total transaction 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. This trade represents a 12.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 11.85% of the company's stock.

Institutional Investors Weigh In On Aurora Innovation

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Aurora Innovation during the first quarter worth $32,000. Signaturefd LLC boosted 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 last quarter. GAMMA Investing LLC boosted its position in shares of Aurora Innovation by 147.3% during the 1st quarter. GAMMA Investing LLC now owns 5,922 shares of the company's stock valued at $40,000 after acquiring an additional 3,527 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of 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 during the period. Finally, PNC Financial Services Group Inc. increased 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 worth $52,000 after purchasing an additional 2,085 shares during the last quarter. Institutional investors and hedge funds 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.