Aurora Innovation (NASDAQ:AUR) Trading Down 6.1% – Here’s What Happened

Aurora Innovation, Inc. (NASDAQ:AUR) fell 6.1% on Monday . The stock traded as low as $6.46 and last traded at $6.52. 2,654,240 shares were traded during trading, a decline of 71% from the average session volume of 9,157,833 shares. The stock had previously closed at $6.94.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AUR shares. Wolfe Research initiated coverage on Aurora Innovation in a research note on Tuesday, November 26th. They issued a “peer perform” rating for the company. Canaccord Genuity Group reissued a “buy” rating and issued a $7.00 price objective on shares of Aurora Innovation in a research report on Monday, September 30th. Cantor Fitzgerald began coverage on shares of Aurora Innovation in a research report on Tuesday, December 10th. They set an “overweight” rating and a $10.00 price objective for the company. Evercore ISI increased their target price on Aurora Innovation from $3.00 to $5.00 and gave the company an “in-line” rating in a report on Monday, October 14th. Finally, The Goldman Sachs Group lifted their price target on Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.70.

Aurora Innovation Trading Down 4.3 %

The business has a 50 day moving average of $6.43 and a 200-day moving average of $4.97. The stock has a market cap of $11.41 billion, a PE ratio of -13.55 and a beta of 2.86.

Insiders Place Their Bets

In other Aurora Innovation news, Director Gloria R. Boyland sold 30,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $6.30, for a total transaction of $189,000.00. Following the sale, the director now directly owns 344,647 shares in the company, valued at approximately $2,171,276.10. The trade was a 8.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Reid Hoffman sold 3,500,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $5.58, for a total value of $19,530,000.00. Following the completion of the sale, the director now owns 382,425 shares in the company, valued at approximately $2,133,931.50. This represents a 90.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,776,667 shares of company stock valued at $48,432,337. Insiders own 13.83% of the company’s stock.

Institutional Trading of Aurora Innovation

A number of institutional investors have recently bought and sold shares of the company. Citigroup Inc. grew its position in shares of Aurora Innovation by 229.4% in the third quarter. Citigroup Inc. now owns 705,181 shares of the company’s stock valued at $4,175,000 after purchasing an additional 491,125 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Aurora Innovation by 26.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,424,827 shares of the company’s stock valued at $49,875,000 after buying an additional 1,776,513 shares during the last quarter. Sterling Investment Advisors Ltd. purchased a new position in Aurora Innovation during the third quarter worth $1,184,000. State Street Corp increased its position in Aurora Innovation by 15.2% during the third quarter. State Street Corp now owns 22,183,252 shares of the company’s stock worth $131,325,000 after buying an additional 2,920,653 shares in the last quarter. Finally, Creative Planning purchased a new stake in shares of Aurora Innovation in the third quarter valued at $652,000. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

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.