Aurora Innovation (NASDAQ:AUR) Stock Price Up 5.8% - Still a Buy?

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AUR shares. Morgan Stanley started coverage on Aurora Innovation in a research report on Monday, March 3rd. They set an "overweight" rating and a $12.00 price objective on the stock. Needham & Company LLC lifted their target price on Aurora Innovation from $10.00 to $13.00 and gave the company a "buy" rating in a research note on Friday, May 9th. TD Cowen began coverage on Aurora Innovation in a research note on Friday, March 7th. They set a "hold" rating and a $8.00 target price on the stock. Canaccord Genuity Group lifted their target price 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, Oppenheimer started coverage on Aurora Innovation in a research note on Thursday, March 27th. They issued an "outperform" rating and a $15.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $10.75.

Aurora Innovation Stock Performance

The firm has a market capitalization of $9.55 billion, a PE ratio of -11.25 and a beta of 2.59. The company has a fifty day simple moving average of $6.30 and a two-hundred day simple moving average of $6.78.

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 for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.01). On average, equities analysts anticipate that Aurora Innovation, Inc. will post -0.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Aurora Innovation

A number of large investors have recently added to or reduced their stakes in AUR. Uber Technologies Inc acquired a new position in Aurora Innovation during the 4th quarter valued at about $2,053,632,000. Toyota Motor Corp acquired a new position in Aurora Innovation during the 4th quarter valued at about $298,294,000. Lightspeed Management Company L.L.C. acquired a new position in Aurora Innovation during the 4th quarter valued at about $74,003,000. Norges Bank acquired a new position in Aurora Innovation during the 4th quarter valued at about $45,772,000. Finally, Price T Rowe Associates Inc. MD increased its position in 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 valued at $168,030,000 after buying an additional 3,237,609 shares in the last quarter. 44.71% of the stock is currently owned by 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.