Aurora Innovation (NASDAQ:AUR) Trading Down 2.7% - What's Next?

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) fell 2.7% during mid-day trading on Wednesday . The company traded as low as $5.27 and last traded at $5.31. 3,005,909 shares were traded during mid-day trading, a decline of 79% from the average session volume of 14,130,967 shares. The stock had previously closed at $5.45.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AUR. Morgan Stanley began coverage on shares of Aurora Innovation in a research report on Monday, March 3rd. They set an "overweight" rating and a $12.00 target price on the stock. TD Cowen began coverage on Aurora Innovation in a research report on Friday, March 7th. They set a "hold" rating and a $8.00 target price on the stock. Needham & Company LLC boosted their price target on shares of Aurora Innovation from $10.00 to $13.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Oppenheimer began coverage on Aurora Innovation in a research report on Thursday, March 27th. They set an "outperform" rating and a $15.00 target price for the company. Finally, The Goldman Sachs Group raised their target price on shares of Aurora Innovation from $6.00 to $7.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Aurora Innovation has a consensus rating of "Moderate Buy" and an average price target of $10.75.

Aurora Innovation Stock Down 4.3%

The stock has a market capitalization of $9.15 billion, a price-to-earnings ratio of -10.77 and a beta of 2.59. The firm has a fifty day moving average of $6.28 and a 200-day moving average of $6.76.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last posted its quarterly earnings results 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). As a group, research analysts forecast that Aurora Innovation, Inc. will post -0.49 EPS for the current fiscal year.

Insider Buying and Selling at Aurora Innovation

In related news, Director Gloria R. Boyland sold 46,097 shares of the company's stock in a transaction dated 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 sale, the director now owns 330,425 shares of the company's stock, valued at $1,956,116. This represents a 12.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 11.85% of the company's stock.

Institutional Trading of Aurora Innovation

Institutional investors have recently made changes to their positions in the company. Toyota Motor Corp bought a new position in shares of Aurora Innovation in the 4th quarter worth about $298,294,000. Uber Technologies Inc bought a new position in Aurora Innovation during the fourth quarter valued at $2,053,632,000. Cornerstone Wealth Management LLC boosted its stake in shares of Aurora Innovation by 153.3% during the first quarter. Cornerstone Wealth Management LLC now owns 185,457 shares of the company's stock valued at $1,247,000 after purchasing an additional 112,237 shares during the period. Lightspeed Management Company L.L.C. purchased a new stake in shares of Aurora Innovation during the fourth quarter valued at about $74,003,000. Finally, Vanguard Group Inc. raised its holdings in shares of Aurora Innovation by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 113,020,406 shares of the company's stock worth $712,029,000 after buying an additional 2,687,191 shares during the last quarter. Institutional investors own 44.71% of the company's stock.

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.