Aurora Innovation (NASDAQ:AUR) Stock Price Down 4.4% – Here’s What Happened

Aurora Innovation, Inc. (NASDAQ:AUR)’s share price traded down 4.4% on Monday . The stock traded as low as $6.51 and last traded at $6.52. 2,806,212 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 6,406,066 shares. The stock had previously closed at $6.82.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AUR. Evercore ISI increased their price objective 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. 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 research note on Monday, November 4th. Wolfe Research began coverage on Aurora Innovation in a report on Tuesday, November 26th. They issued a “peer perform” rating on the stock. Canaccord Genuity Group increased their price objective on Aurora Innovation from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, TD Cowen boosted their target price on shares of Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Aurora Innovation currently has a consensus rating of “Hold” and an average target price of $6.30.

Aurora Innovation Stock Performance

The company has a market capitalization of $13.85 billion, a P/E ratio of -16.45 and a beta of 2.85. The company has a 50-day simple moving average of $6.48 and a 200 day simple moving average of $5.18.

Insider Transactions at Aurora Innovation

In other news, Director Gloria R. Boyland sold 30,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $6.30, for a total value of $189,000.00. Following the completion of the transaction, the director now directly owns 344,647 shares of the company’s stock, valued at approximately $2,171,276.10. This represents a 8.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Reid Hoffman sold 3,500,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were 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 directly 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 90 days, insiders have sold 8,776,667 shares of company stock worth $48,432,337. 13.83% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. lifted its position in shares of Aurora Innovation by 17.2% during the third quarter. Baillie Gifford & Co. now owns 84,904,647 shares of the company’s stock worth $502,636,000 after purchasing an additional 12,466,085 shares in the last quarter. FMR LLC raised its position in Aurora Innovation by 206.1% in the 3rd quarter. FMR LLC now owns 13,848,530 shares of the company’s stock worth $81,983,000 after purchasing an additional 9,325,013 shares during the last quarter. Geode Capital Management LLC boosted its position in Aurora Innovation by 15.5% in the 3rd quarter. Geode Capital Management LLC now owns 22,796,526 shares of the company’s stock valued at $134,981,000 after buying an additional 3,064,342 shares during the last quarter. State Street Corp boosted its position in Aurora Innovation by 15.2% in the 3rd quarter. State Street Corp now owns 22,183,252 shares of the company’s stock valued at $131,325,000 after buying an additional 2,920,653 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Aurora Innovation by 23.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,337,429 shares of the company’s stock valued at $36,941,000 after buying an additional 2,502,002 shares during the period. 44.71% of the stock is owned by 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.