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

Aurora Innovation, Inc. (NASDAQ:AUR)’s share price gapped down before the market opened on Friday . The stock had previously closed at $7.34, but opened at $7.19. Aurora Innovation shares last traded at $7.06, with a volume of 538,663 shares traded.

Analyst Ratings Changes

AUR has been the subject of a number of analyst reports. TD Cowen boosted 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. Evercore ISI boosted their target price on Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a report on Monday, October 14th. Canaccord Genuity Group reiterated a “buy” rating and set a $7.00 price target on shares of Aurora Innovation in a report on Monday, September 30th. Cantor Fitzgerald started 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. Finally, The Goldman Sachs Group raised their target price on shares of 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 issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Aurora Innovation presently has an average rating of “Hold” and an average price target of $5.70.

Aurora Innovation Price Performance

The company has a market capitalization of $11.93 billion, a price-to-earnings ratio of -14.16 and a beta of 2.86. The business has a fifty day moving average price of $6.43 and a 200 day moving average price of $4.93.

Insider Activity at Aurora Innovation

In other Aurora Innovation news, Director Reid Hoffman sold 447,046 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $5.04, for a total transaction of $2,253,111.84. Following the completion of the transaction, the director now owns 26,892 shares in the company, valued at $135,535.68. This trade represents a 94.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 sale, the director now owns 344,647 shares in the company, 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. Insiders sold a total of 8,776,667 shares of company stock worth $48,432,337 in the last ninety days. 13.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Aurora Innovation

A number of hedge funds have recently made changes to their positions in the company. Souders Financial Advisors acquired a new position in Aurora Innovation in the third quarter valued at about $59,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Aurora Innovation in the 3rd quarter worth approximately $60,000. Reynders McVeigh Capital Management LLC bought a new stake in Aurora Innovation during the 3rd quarter worth approximately $63,000. Sigma Planning Corp acquired a new stake in Aurora Innovation during the 3rd quarter valued at $63,000. Finally, Franklin Resources Inc. bought a new position in Aurora Innovation in the 3rd quarter valued at $72,000. Institutional investors and hedge funds own 44.71% of the company’s stock.

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.