Aurora Innovation (NASDAQ:AUR) Shares Down 1.2% - Time to Sell?

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) fell 1.2% during trading on Friday . The company traded as low as $5.25 and last traded at $5.32. 1,519,915 shares were traded during trading, a decline of 90% from the average session volume of 14,842,620 shares. The stock had previously closed at $5.38.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AUR. The Goldman Sachs Group increased their target price on Aurora Innovation from $6.00 to $7.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Needham & Company LLC increased 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. Oppenheimer began coverage on Aurora Innovation in a research note on Thursday, March 27th. They set an "outperform" rating and a $15.00 target price for the company. Finally, Canaccord Genuity Group increased 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. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.75.

Aurora Innovation Stock Performance

The stock has a 50-day simple moving average of $5.95 and a 200 day simple moving average of $6.62. The company has a market cap of $9.25 billion, a P/E ratio of -10.90 and a beta of 2.48.

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

Insider Activity at Aurora Innovation

In other news, Director Gloria R. Boyland sold 46,097 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 330,425 shares of the company's stock, valued at approximately $1,956,116. This represents a 12.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 11.85% of the company's stock.

Hedge Funds Weigh In On Aurora Innovation

A number of hedge funds have recently modified their holdings of the stock. Bouvel Investment Partners LLC acquired a new position in shares of Aurora Innovation in the 2nd quarter worth approximately $697,000. Farther Finance Advisors LLC increased its holdings in Aurora Innovation by 463.3% during the 2nd 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 in the last quarter. Clare Market Investments LLC increased its holdings in Aurora Innovation by 17.8% during the 2nd quarter. Clare Market Investments LLC now owns 813,133 shares of the company's stock valued at $4,261,000 after purchasing an additional 122,575 shares in the last quarter. Legacy Financial Strategies LLC acquired a new stake in Aurora Innovation during the 2nd quarter valued at $55,000. Finally, Focus Financial Network Inc. acquired a new stake in Aurora Innovation during the 2nd quarter valued at $62,000. 44.71% of the stock is owned by institutional investors and hedge funds.

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.