Aurora Innovation (NASDAQ:AUR) Shares Gap Down – Time to Sell?

Aurora Innovation, Inc. (NASDAQ:AUR)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $8.39, but opened at $8.02. Aurora Innovation shares last traded at $7.49, with a volume of 5,140,292 shares traded.

Analysts Set New Price Targets

Several research firms have issued reports on AUR. Cantor Fitzgerald began coverage on shares of Aurora Innovation in a research note on Tuesday, December 10th. They issued an “overweight” rating and a $10.00 price objective for the company. The Goldman Sachs Group upped their target price on Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a research report on Monday, November 4th. TD Cowen lifted their price target on Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Wolfe Research initiated coverage on Aurora Innovation in a report on Tuesday, November 26th. They issued a “peer perform” rating for the company. Finally, Evercore ISI lifted their target price on shares of Aurora Innovation from $3.00 to $5.00 and gave the company an “in-line” rating in a report on Monday, October 14th. One 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. Based on data from MarketBeat, Aurora Innovation has a consensus rating of “Hold” and a consensus target price of $6.30.

Aurora Innovation Stock Performance

The business has a 50-day simple moving average of $6.56 and a two-hundred day simple moving average of $5.22. The company has a market capitalization of $12.01 billion, a price-to-earnings ratio of -14.27 and a beta of 2.85.

Insider Buying and Selling

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 transaction 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 this hyperlink. Also, Director Reid Hoffman sold 447,046 shares of Aurora Innovation 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 completion of the sale, the director now owns 26,892 shares in the company, valued at approximately $135,535.68. This trade represents a 94.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,776,667 shares of company stock valued at $48,432,337 over the last three months. 13.83% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aurora Innovation

A number of institutional investors and hedge funds have recently modified their holdings of AUR. Profund Advisors LLC purchased a new position in Aurora Innovation during the 2nd quarter valued at about $46,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Aurora Innovation in the second quarter valued at approximately $51,000. Souders Financial Advisors purchased a new position in shares of Aurora Innovation during the 3rd quarter worth approximately $59,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Aurora Innovation during the 3rd quarter worth approximately $60,000. Finally, Sigma Planning Corp purchased a new stake in Aurora Innovation in the 3rd quarter valued at approximately $63,000. Institutional investors and hedge funds own 44.71% of the company’s stock.

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.