Aurora Innovation (NASDAQ:AUR) Trading 3.2% Higher - Here's Why

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s share price traded up 3.2% during mid-day trading on Tuesday . The stock traded as high as $5.63 and last traded at $5.60. 3,425,843 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 14,044,684 shares. The stock had previously closed at $5.42.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AUR. TD Cowen initiated coverage on Aurora Innovation in a report on Friday, March 7th. They set a "hold" rating and a $8.00 price objective for the company. Needham & Company LLC boosted their price target 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. Oppenheimer started coverage on shares of Aurora Innovation in a report on Thursday, March 27th. They issued an "outperform" rating and a $15.00 price objective on the stock. Morgan Stanley assumed coverage on shares of Aurora Innovation in a report on Monday, March 3rd. They set an "overweight" rating and a $12.00 target price for the company. Finally, Canaccord Genuity Group increased their price target on Aurora Innovation from $10.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $10.75.

Aurora Innovation Price Performance

The company's 50 day simple moving average is $6.30 and its 200 day simple moving average is $6.78. The stock has a market cap of $9.16 billion, a P/E ratio of -10.79 and a beta of 2.59.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.01). On average, equities research analysts predict that Aurora Innovation, Inc. will post -0.49 earnings per share for the current year.

Insider Activity

In other Aurora Innovation news, Director Gloria R. Boyland sold 46,097 shares of Aurora Innovation stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $5.92, for a total value of $272,894.24. Following the sale, the director now owns 330,425 shares of the company's stock, valued at $1,956,116. This trade represents a 12.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 11.85% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Uber Technologies Inc bought a new position in shares of Aurora Innovation during the 4th quarter worth approximately $2,053,632,000. Vanguard Group Inc. increased its holdings in shares of Aurora Innovation by 2.1% in the first quarter. Vanguard Group Inc. now owns 115,413,401 shares of the company's stock valued at $776,155,000 after purchasing an additional 2,392,995 shares during the last quarter. Toyota Motor Corp bought a new position in shares of Aurora Innovation in the fourth quarter valued at about $298,294,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Aurora Innovation by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,671,319 shares of the company's stock worth $168,030,000 after buying an additional 3,237,609 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Aurora Innovation by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 23,374,230 shares of the company's stock worth $147,292,000 after buying an additional 577,704 shares during the period. 44.71% of the stock is currently owned by institutional investors.

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.