Aurora Innovation (NASDAQ:AUR) Trading Down 1.7% - Here's What Happened

Key Points

• Aurora Innovation's stock fell 1.7% on Wednesday, trading as low as $6.24, with a volume drop of 71% from its average session.
• Analysts have raised their price targets for Aurora Innovation, with Goldman Sachs increasing it to $7.00, while Canaccord Genuity and Needham both set targets between $13.00 and $15.00.
• Insider trading activity includes Director Gloria R. Boyland selling over 46,000 shares, whereas Director John J. Donahoe purchased 162,337 shares, reflecting mixed signals from company insiders.

Shares of Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) fell 1.7% during trading on Wednesday . The stock traded as low as $6.24 and last traded at $6.26. 5,619,157 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 19,268,895 shares. The stock had previously closed at $6.36.

Analysts Set New Price Targets

Several analysts recently commented on the company. The Goldman Sachs Group raised 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. Canaccord Genuity Group upped their target price on Aurora Innovation from $10.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, Needham & Company LLC lifted their target price 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. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $10.75.

Aurora Innovation Trading Up 1.6%

The company has a fifty day moving average of $5.73 and a 200-day moving average of $6.50. The stock has a market cap of $11.92 billion, a PE ratio of -13.74 and a beta of 2.49.

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

Insiders Place Their Bets

In related news, Director Gloria R. Boyland sold 46,097 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $5.92, for a total transaction of $272,894.24. Following the completion of the sale, the director owned 330,425 shares in the company, valued at $1,956,116. The trade was a 12.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John J. Donahoe acquired 162,337 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was bought at an average price of $6.10 per share, with a total value of $990,255.70. Following the purchase, the director directly owned 162,337 shares of the company's stock, valued at $990,255.70. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 11.85% of the company's stock.

Institutional Trading of Aurora Innovation

A number of large investors have recently made changes to their positions in AUR. Blueshift Asset Management LLC acquired a new position in Aurora Innovation during the second quarter worth approximately $61,000. Quantbot Technologies LP purchased a new position in shares of Aurora Innovation during the 2nd quarter worth about $3,601,000. Edgestream Partners L.P. acquired a new stake in shares of Aurora Innovation during the 2nd quarter worth $356,000. New York State Common Retirement Fund increased its stake in Aurora Innovation by 30.7% during the second quarter. New York State Common Retirement Fund now owns 404,288 shares of the company's stock worth $2,118,000 after acquiring an additional 95,000 shares during the last quarter. Finally, Norges Bank acquired a new position in Aurora Innovation during the second quarter valued at approximately $42,421,000. 44.71% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.