Aurora Innovation (NASDAQ:AUR) Trading 2.2% Higher - Still a Buy?

Key Points

• Aurora Innovation's shares increased by 2.2% to $5.85, with a significant drop in trading volume of 88% from average levels.
• Analysts have a consensus rating of Moderate Buy on Aurora Innovation with a target price of $10.75, following upward revisions from various firms.
• Notable insider trading included a director selling 46,097 shares while another director purchased 162,337 shares, indicating varying confidence among company insiders.

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) shares traded up 2.2% on Thursday . The company traded as high as $5.85 and last traded at $5.85. 2,405,399 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 19,494,350 shares. The stock had previously closed at $5.72.

Analyst Ratings Changes

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

Aurora Innovation Price Performance

The stock has a market cap of $10.77 billion, a PE ratio of -12.41 and a beta of 2.49. The company has a 50 day moving average price of $5.82 and a two-hundred day moving average price of $6.44.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.01. The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $0.50 million. As a group, equities analysts predict that Aurora Innovation, Inc. will post -0.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Aurora Innovation

In other news, Director Gloria R. Boyland sold 46,097 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $5.92, for a total value of $272,894.24. Following the transaction, the director directly owned 330,425 shares in the company, valued at $1,956,116. This trade represents a 12.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John J. Donahoe acquired 162,337 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average cost of $6.10 per share, with a total value of $990,255.70. Following the acquisition, 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 disclosure for this purchase can be found here. 11.85% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Uber Technologies Inc purchased a new position in Aurora Innovation in the fourth quarter worth about $2,053,632,000. Vanguard Group Inc. boosted its position in Aurora Innovation by 2.1% in the first quarter. Vanguard Group Inc. now owns 115,413,401 shares of the company's stock worth $776,155,000 after purchasing an additional 2,392,995 shares during the last quarter. Toyota Motor Corp purchased a new position in Aurora Innovation in the fourth quarter worth about $298,294,000. Durable Capital Partners LP boosted its position in Aurora Innovation by 36.7% in the second quarter. Durable Capital Partners LP now owns 20,404,238 shares of the company's stock worth $106,918,000 after purchasing an additional 5,481,969 shares during the last quarter. Finally, Lightspeed Management Company L.L.C. purchased a new position in Aurora Innovation in the fourth quarter worth about $74,003,000. 44.71% of the stock is owned by hedge funds and other institutional investors.

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.

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