Aurora Innovation (NASDAQ:AUR) Trading Down 2.2% - What's Next?

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s stock price traded down 2.2% on Tuesday . The company traded as low as $5.00 and last traded at $5.13. 8,896,435 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 14,606,348 shares. The stock had previously closed at $5.24.

Analysts Set New Price Targets

AUR has been the subject of several recent analyst reports. Morgan Stanley assumed coverage on shares of Aurora Innovation in a report on Monday, March 3rd. They issued an "overweight" rating and a $12.00 target price for the company. The Goldman Sachs Group lifted their price target on Aurora Innovation from $6.00 to $7.00 and gave the company a "neutral" rating in a report on Monday, May 12th. Oppenheimer assumed coverage on Aurora Innovation in a research note on Thursday, March 27th. They issued an "outperform" rating and a $15.00 price objective for the company. Canaccord Genuity Group raised their price objective on Aurora Innovation from $10.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, Needham & Company LLC upped their target price on Aurora Innovation from $10.00 to $13.00 and gave the company a "buy" rating in a report on Friday, May 9th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $10.75.

Aurora Innovation Price Performance

The stock has a market cap of $8.99 billion, a price-to-earnings ratio of -10.59 and a beta of 2.59. The business has a fifty day moving average of $6.27 and a 200 day moving average of $6.75.

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 analysts' consensus estimates of ($0.11) by ($0.01). On average, analysts expect that Aurora Innovation, Inc. will post -0.49 EPS for the current year.

Insider Activity at Aurora Innovation

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 value of $272,894.24. Following the completion of the sale, the director directly owned 330,425 shares in the company, valued at approximately $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 this link. Corporate insiders own 11.85% of the company's stock.

Institutional Trading of Aurora Innovation

A number of institutional investors and hedge funds have recently modified their holdings of AUR. Uber Technologies Inc bought a new stake in shares of Aurora Innovation in the fourth quarter valued at approximately $2,053,632,000. Toyota Motor Corp bought a new stake in Aurora Innovation in the 4th quarter valued at $298,294,000. Lightspeed Management Company L.L.C. acquired a new stake in Aurora Innovation in the 4th quarter worth $74,003,000. Norges Bank bought a new position in shares of Aurora Innovation during the 4th quarter worth about $45,772,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Aurora Innovation by 13.8% during the fourth 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 during the last quarter. 44.71% of the stock is currently 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.

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