Aurora Innovation (NASDAQ:AUR) Trading 2.5% Higher - Still a Buy?

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) shares shot up 2.5% during mid-day trading on Wednesday . The stock traded as high as $5.87 and last traded at $5.94. 4,176,326 shares were traded during mid-day trading, a decline of 72% from the average session volume of 14,884,017 shares. The stock had previously closed at $5.79.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AUR shares. Oppenheimer started coverage on shares of Aurora Innovation in a research report on Thursday, March 27th. They set an "outperform" rating and a $15.00 price target on the stock. The Goldman Sachs Group lifted their price target 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. Needham & Company LLC lifted their price target on shares of Aurora Innovation from $10.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, Canaccord Genuity Group lifted their price target 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. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $10.75.

Aurora Innovation Trading Down 2.3%

The company has a fifty day simple moving average of $5.81 and a 200-day simple moving average of $6.60. The stock has a market cap of $11.07 billion, a price-to-earnings ratio of -13.04 and a beta of 2.48.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last issued its 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). As a group, analysts anticipate that Aurora Innovation, Inc. will post -0.49 earnings per share for the current year.

Insider Transactions at Aurora Innovation

In other Aurora Innovation news, Director Gloria R. Boyland sold 46,097 shares of the company'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 of the company's stock, valued at $1,956,116. This represents a 12.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AUR. Toyota Motor Corp acquired a new position in Aurora Innovation during the fourth quarter worth $298,294,000. Uber Technologies Inc acquired a new position in Aurora Innovation during the fourth quarter worth $2,053,632,000. Cornerstone Wealth Management LLC increased its stake in shares of Aurora Innovation by 153.3% in the first quarter. Cornerstone Wealth Management LLC now owns 185,457 shares of the company's stock valued at $1,247,000 after buying an additional 112,237 shares in the last quarter. Lightspeed Management Company L.L.C. acquired a new stake in shares of Aurora Innovation in the fourth quarter valued at $74,003,000. Finally, Vanguard Group Inc. increased its stake 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 valued at $712,029,000 after buying an additional 2,687,191 shares in the last quarter. 44.71% of the stock is currently owned by institutional investors and hedge funds.

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.