Aurora Innovation (NASDAQ:AUR) Reaches New 52-Week High – Still a Buy?

Aurora Innovation, Inc. (NASDAQ:AUR) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $7.16 and last traded at $7.16, with a volume of 183945 shares changing hands. The stock had previously closed at $6.92.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. TD Cowen raised their target price on shares of Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Wolfe Research began coverage on shares of Aurora Innovation in a research report on Tuesday, November 26th. They issued a “peer perform” rating for the company. Evercore ISI lifted their price objective on Aurora Innovation from $3.00 to $5.00 and gave the company an “in-line” rating in a report on Monday, October 14th. Canaccord Genuity Group reissued a “buy” rating and set a $7.00 target price on shares of Aurora Innovation in a research note on Monday, September 30th. Finally, The Goldman Sachs Group lifted their price target on Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.63.

Aurora Innovation Stock Performance

The stock has a market capitalization of $13.49 billion, a PE ratio of -16.02 and a beta of 2.86. The company’s fifty day simple moving average is $5.96 and its two-hundred day simple moving average is $4.44.

Insider Activity at Aurora Innovation

In other Aurora Innovation news, Director Gloria R. Boyland sold 30,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $6.30, for a total transaction of $189,000.00. Following the completion of the sale, the director now owns 344,647 shares of the company’s stock, valued at approximately $2,171,276.10. The trade was a 8.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Reid Hoffman sold 3,500,000 shares of the business’s stock in a transaction dated 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 sale, the director now owns 382,425 shares of the company’s stock, valued at $2,133,931.50. The trade was a 90.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,776,667 shares of company stock valued at $48,432,337 over the last quarter. Insiders own 13.83% of the company’s stock.

Institutional Investors Weigh In On Aurora Innovation

Institutional investors have recently bought and sold shares of the business. Baillie Gifford & Co. grew its position in Aurora Innovation by 78.4% in the second quarter. Baillie Gifford & Co. now owns 72,438,562 shares of the company’s stock valued at $200,655,000 after acquiring an additional 31,841,994 shares in the last quarter. FMR LLC increased its stake in Aurora Innovation by 206.1% during the 3rd quarter. FMR LLC now owns 13,848,530 shares of the company’s stock worth $81,983,000 after buying an additional 9,325,013 shares during the period. Bank of New York Mellon Corp lifted its holdings in Aurora Innovation by 273.5% in 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 buying an additional 3,800,901 shares in the last quarter. Geode Capital Management LLC lifted its holdings 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 worth $134,981,000 after buying an additional 3,064,342 shares in the last quarter. Finally, 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. 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.