Aurora Innovation (NASDAQ:AUR) Stock Price Up 8% – Here’s What Happened

Shares of Aurora Innovation, Inc. (NASDAQ:AUR) shot up 8% during trading on Friday . The stock traded as high as $6.59 and last traded at $6.59. 1,479,238 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 4,759,461 shares. The stock had previously closed at $6.10.

Wall Street Analysts Forecast Growth

AUR has been the subject of several analyst reports. TD Cowen raised their price target on shares of Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Evercore ISI lifted their target price on shares of Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. Wolfe Research assumed coverage on shares of Aurora Innovation in a research report on Tuesday, November 26th. They set a “peer perform” rating on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $7.00 price objective on shares of Aurora Innovation in a research note on Monday, September 30th. Finally, Cantor Fitzgerald initiated coverage on Aurora Innovation in a research report on Tuesday, December 10th. They set an “overweight” rating and a $10.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Aurora Innovation has an average rating of “Hold” and an average target price of $5.70.

Aurora Innovation Price Performance

The company has a fifty day moving average price of $6.45 and a 200 day moving average price of $5.07. The stock has a market cap of $11.72 billion, a P/E ratio of -13.92 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 firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $6.30, for a total transaction of $189,000.00. Following the transaction, the director now directly owns 344,647 shares in the company, valued at approximately $2,171,276.10. This trade represents a 8.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Reid Hoffman sold 3,500,000 shares of Aurora Innovation stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $5.58, for a total transaction of $19,530,000.00. Following the transaction, the director now directly owns 382,425 shares in the company, valued at $2,133,931.50. This represents a 90.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,776,667 shares of company stock worth $48,432,337. Insiders own 13.83% of the company’s stock.

Hedge Funds Weigh In On Aurora Innovation

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its stake in shares of Aurora Innovation by 273.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,190,426 shares of the company’s stock worth $14,377,000 after purchasing an additional 3,800,901 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Aurora Innovation by 56.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 157,010 shares of the company’s stock worth $435,000 after acquiring an additional 56,874 shares during the period. Principal Financial Group Inc. boosted its stake in Aurora Innovation by 143.4% in the second quarter. Principal Financial Group Inc. now owns 99,270 shares of the company’s stock valued at $275,000 after acquiring an additional 58,477 shares during the last quarter. CIBC Asset Management Inc bought a new position in shares of Aurora Innovation during the 2nd quarter valued at approximately $90,000. Finally, Rhumbline Advisers increased its stake in shares of Aurora Innovation by 114.7% during the 2nd quarter. Rhumbline Advisers now owns 1,160,176 shares of the company’s stock worth $3,214,000 after purchasing an additional 619,791 shares during the last quarter. 44.71% of the stock is owned by institutional investors.

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.