Aurora Innovation (NASDAQ:AUR) Shares Gap Down – Should You Sell?

Aurora Innovation, Inc. (NASDAQ:AUR)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $7.18, but opened at $6.93. Aurora Innovation shares last traded at $7.07, with a volume of 1,481,962 shares.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AUR shares. TD Cowen upped their price objective on shares of Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Canaccord Genuity Group reiterated a “buy” rating and issued a $7.00 price target on shares of Aurora Innovation in a report on Monday, September 30th. The Goldman Sachs Group raised their price objective on Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a research note on Monday, November 4th. Cantor Fitzgerald assumed coverage on Aurora Innovation in a report on Tuesday, December 10th. They issued an “overweight” rating and a $10.00 target price on the stock. Finally, Wolfe Research started coverage on shares of Aurora Innovation in a research note on Tuesday, November 26th. They set a “peer perform” rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Aurora Innovation presently has an average rating of “Hold” and an average price target of $5.70.

Aurora Innovation Stock Up 0.1 %

The firm has a 50 day moving average price of $6.34 and a 200 day moving average price of $4.79. The stock has a market capitalization of $12.36 billion, a PE ratio of -14.67 and a beta of 2.86.

Insider Activity at Aurora Innovation

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

Institutional Investors Weigh In On Aurora Innovation

A number of hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. bought a new stake in shares of Aurora Innovation in the 3rd quarter worth approximately $72,000. Virtu Financial LLC bought a new stake in shares of Aurora Innovation in the third quarter valued at $337,000. Geode Capital Management LLC lifted its position in shares of Aurora Innovation by 15.5% during 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. Abel Hall LLC bought a new position in shares of Aurora Innovation during the 3rd quarter worth $88,000. Finally, Barclays PLC increased its holdings in Aurora Innovation by 431.9% in the 3rd quarter. Barclays PLC now owns 1,709,749 shares of the company’s stock worth $10,122,000 after acquiring an additional 1,388,307 shares during the last quarter. 44.71% of the stock is currently 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.