Aurora Innovation (NASDAQ:AUR) Stock Price Up 5.8% - Here's What Happened

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s stock price shot up 5.8% on Monday . The stock traded as high as $5.47 and last traded at $5.53. 3,684,480 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 13,982,153 shares. The stock had previously closed at $5.22.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. The Goldman Sachs Group boosted their price target on Aurora Innovation from $6.00 to $7.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. Canaccord Genuity Group lifted their target price 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. Oppenheimer started coverage on shares of Aurora Innovation in a research report on Thursday, March 27th. They set an "outperform" rating and a $15.00 price objective for the company. Morgan Stanley started coverage on Aurora Innovation in a research report on Monday, March 3rd. They issued an "overweight" rating and a $12.00 target price on the stock. Finally, TD Cowen assumed coverage on Aurora Innovation in a research note on Friday, March 7th. They issued a "hold" rating and a $8.00 price target for the company. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $10.75.

Aurora Innovation Stock Up 0.6%

The firm has a market capitalization of $9.64 billion, a price-to-earnings ratio of -11.35 and a beta of 2.59. The firm has a 50 day moving average of $6.33 and a two-hundred day moving average of $6.81.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.01). Sell-side analysts forecast that Aurora Innovation, Inc. will post -0.49 EPS for the current fiscal year.

Insider Transactions at Aurora Innovation

In other Aurora Innovation news, Director Gloria R. Boyland sold 46,097 shares of the firm's 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 now directly owns 330,425 shares in the company, valued at approximately $1,956,116. This trade represents a 12.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On Aurora Innovation

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers lifted its position in shares of Aurora Innovation by 1.8% during the 1st quarter. Rhumbline Advisers now owns 1,410,036 shares of the company's stock worth $9,482,000 after buying an additional 24,584 shares in the last quarter. Strs Ohio bought a new position in shares of Aurora Innovation during the 1st quarter worth $746,000. Acadian Asset Management LLC purchased a new stake in Aurora Innovation during the first quarter valued at about $1,174,000. Intech Investment Management LLC boosted its position in Aurora Innovation by 41.7% during the first quarter. Intech Investment Management LLC now owns 620,181 shares of the company's stock worth $4,171,000 after purchasing an additional 182,573 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Aurora Innovation by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,046,760 shares of the company's stock worth $13,764,000 after acquiring an additional 127,953 shares during the period. Institutional investors and hedge funds own 44.71% of the company's stock.

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.