Aurora Innovation (NASDAQ:AUR) Shares Down 1.7% - What's Next?

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.

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

Analysts Set New Price Targets

AUR has been the topic of a number of recent analyst reports. Needham & Company LLC raised their price target on shares of Aurora Innovation from $10.00 to $13.00 and gave the company a "buy" rating in a report on Friday, May 9th. Canaccord Genuity Group increased their price objective on shares of Aurora Innovation from $10.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group increased their price objective on shares of Aurora Innovation from $6.00 to $7.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $10.75.

Aurora Innovation Trading Down 2.6%

The company has a market capitalization of $11.79 billion, a PE ratio of -13.60 and a beta of 2.49. The business's 50-day simple moving average is $5.77 and its 200-day simple moving average is $6.50.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last posted 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. Sell-side analysts forecast that Aurora Innovation, Inc. will post -0.49 EPS for the current fiscal year.

Insider Activity at Aurora Innovation

In other news, Director Gloria R. Boyland sold 46,097 shares of Aurora Innovation stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $5.92, for a total transaction of $272,894.24. Following the completion of the transaction, the director directly owned 330,425 shares of the company's stock, valued at $1,956,116. The trade was a 12.24% decrease in their position. 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 bought 162,337 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were purchased at an average cost of $6.10 per share, with a total value of $990,255.70. Following the completion of the acquisition, the director owned 162,337 shares in the company, valued at approximately $990,255.70. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 11.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Aurora Innovation

Several institutional investors have recently made changes to their positions in AUR. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Aurora Innovation in the 1st quarter valued at $32,000. Signaturefd LLC grew its stake in Aurora Innovation by 208.0% in the 1st quarter. Signaturefd LLC now owns 5,283 shares of the company's stock valued at $36,000 after acquiring an additional 3,568 shares during the period. GAMMA Investing LLC grew its stake in Aurora Innovation by 147.3% in the 1st quarter. GAMMA Investing LLC now owns 5,922 shares of the company's stock valued at $40,000 after acquiring an additional 3,527 shares during the period. Farther Finance Advisors LLC boosted its stake in Aurora Innovation by 463.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 7,616 shares of the company's stock worth $40,000 after purchasing an additional 6,264 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Aurora Innovation by 37.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,683 shares of the company's stock worth $52,000 after purchasing an additional 2,085 shares during the last quarter. 44.71% of the stock is owned by hedge funds and other 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.