Aurora Innovation (NASDAQ:AUR) Shares Down 6.1% on Insider Selling

Aurora Innovation, Inc. (NASDAQ:AUR) dropped 6.1% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $5.02 and last traded at $5.05. Approximately 1,377,916 shares traded hands during trading, a decline of 84% from the average daily volume of 8,789,904 shares. The stock had previously closed at $5.38.

Specifically, Director Reid Hoffman sold 447,046 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $5.04, for a total value of $2,253,111.84. Following the sale, the director now directly owns 26,892 shares in the company, valued at $135,535.68. The trade was a 94.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Reid Hoffman sold 1,181,400 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $5.60, for a total value of $6,615,840.00. Following the completion of the transaction, the director now directly owns 125,000 shares in the company, valued at $700,000. This represents a 90.43 % decrease in their position. The disclosure for this sale can be found here. In related news, Director Reid Hoffman sold 856,797 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $5.49, for a total value of $4,703,815.53. Following the completion of the transaction, the director now owns 268,099 shares in the company, valued at $1,471,863.51. This trade represents a 76.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

AUR has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price objective on shares of Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a research note on Monday, November 4th. TD Cowen lifted their target price on shares of Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Evercore ISI raised 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, Canaccord Genuity Group reiterated a “buy” rating and set a $7.00 price target on shares of Aurora Innovation in a research note on Monday, September 30th.

Aurora Innovation Price Performance

The firm’s 50 day moving average price is $5.58 and its 200-day moving average price is $4.09. The firm has a market cap of $8.57 billion, a price-to-earnings ratio of -10.18 and a beta of 2.82.

Institutional Trading of Aurora Innovation

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Baillie Gifford & Co. raised its position in shares of Aurora Innovation by 78.4% during the second quarter. Baillie Gifford & Co. now owns 72,438,562 shares of the company’s stock valued at $200,655,000 after buying an additional 31,841,994 shares during the last quarter. FMR LLC raised its holdings in Aurora Innovation by 206.1% in the 3rd quarter. FMR LLC now owns 13,848,530 shares of the company’s stock valued at $81,983,000 after acquiring an additional 9,325,013 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of 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 acquiring an additional 3,800,901 shares during the period. Geode Capital Management LLC grew its holdings 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 worth $134,981,000 after purchasing an additional 3,064,342 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Aurora Innovation by 15.2% in the third quarter. State Street Corp now owns 22,183,252 shares of the company’s stock valued at $131,325,000 after purchasing an additional 2,920,653 shares in the last quarter. 44.71% of the stock is currently owned by institutional investors and hedge funds.

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.