Aurora Innovation (NASDAQ:AUR) Shares Down 2.4% - Should You Sell?

Key Points

• Aurora Innovation's stock is trading down by 2.4%, currently at $6.37 after a low of $6.30, with a significant decline in trading volume of 87% from the average.
• Recently, analysts have shown positive sentiment, with Needham & Company raising its target price to $13.00 and giving a "buy" rating, and Goldman Sachs increasing its target to $7.00.
• The company reported a loss of $0.12 EPS in its latest quarterly results, which was below analysts' expectations, and is projected to have an EPS of -0.49 for the current year.
• Institutional investors own approximately 44.71% of Aurora Innovation's stock, with several firms increasing their positions in recent quarters.

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s share price fell 2.4% during mid-day trading on Friday . The company traded as low as $6.30 and last traded at $6.37. 2,532,974 shares were traded during trading, a decline of 87% from the average session volume of 19,012,918 shares. The stock had previously closed at $6.52.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Canaccord Genuity Group lifted their price objective on Aurora Innovation from $10.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Needham & Company LLC upped their price target on Aurora Innovation from $10.00 to $13.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, The Goldman Sachs Group upped their price target on Aurora Innovation from $6.00 to $7.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently 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 $11.11 billion, a PE ratio of -13.08 and a beta of 2.48. The company has a fifty day moving average price of $5.73 and a 200-day moving average price of $6.56.

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

Insiders Place Their Bets

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

Institutional Trading of Aurora Innovation

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC grew its position in Aurora Innovation by 20.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 64,934 shares of the company's stock valued at $340,000 after acquiring an additional 11,136 shares during the last quarter. Vontobel Holding Ltd. bought a new position in shares of Aurora Innovation during the 2nd quarter worth $89,000. Maryland State Retirement & Pension System bought a new stake in shares of Aurora Innovation in the second quarter valued at about $251,000. Abel Hall LLC raised its holdings in shares of Aurora Innovation by 26.5% in the second quarter. Abel Hall LLC now owns 20,054 shares of the company's stock valued at $105,000 after acquiring an additional 4,207 shares in the last quarter. Finally, KLP Kapitalforvaltning AS grew its holdings in Aurora Innovation by 9.6% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 204,400 shares of the company's stock worth $1,071,000 after acquiring an additional 17,900 shares in the last quarter. Hedge funds and other institutional investors own 44.71% of the company's stock.

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.