Canaccord Genuity Group Boosts Aurora Innovation (NASDAQ:AUR) Price Target to $10.00

Aurora Innovation (NASDAQ:AUR) had its price target boosted by equities research analysts at Canaccord Genuity Group from $7.00 to $10.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 24.07% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. Cantor Fitzgerald assumed coverage on Aurora Innovation in a report on Tuesday, December 10th. They issued an “overweight” rating and a $10.00 price objective for the company. The Goldman Sachs Group increased their price objective on Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a report on Monday, November 4th. TD Cowen increased their price objective on Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Evercore ISI increased 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. Finally, Wolfe Research assumed coverage on Aurora Innovation in a report on Tuesday, November 26th. They issued 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 given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.30.

Aurora Innovation Stock Down 3.9 %

Shares of Aurora Innovation stock opened at $8.06 on Wednesday. The firm has a market capitalization of $13.85 billion, a P/E ratio of -16.45 and a beta of 2.85. Aurora Innovation has a 52 week low of $2.10 and a 52 week high of $9.83. The firm’s 50 day moving average is $6.51 and its two-hundred day moving average is $5.20.

Insider Buying and Selling

In related news, Director Reid Hoffman sold 3,500,000 shares of Aurora Innovation stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $5.58, for a total transaction of $19,530,000.00. Following the completion of the sale, the director now owns 382,425 shares in the company, valued at approximately $2,133,931.50. This trade represents a 90.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gloria R. Boyland sold 30,000 shares of Aurora Innovation stock in a transaction dated 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 of the company’s stock, valued at $2,171,276.10. This trade represents a 8.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,776,667 shares of company stock worth $48,432,337. 13.83% of the stock is owned by corporate insiders.

Institutional Trading of Aurora Innovation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. lifted its stake in shares of Aurora Innovation by 229.4% in the 3rd quarter. Citigroup Inc. now owns 705,181 shares of the company’s stock valued at $4,175,000 after purchasing an additional 491,125 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Aurora Innovation by 26.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,424,827 shares of the company’s stock valued at $49,875,000 after purchasing an additional 1,776,513 shares in the last quarter. Sterling Investment Advisors Ltd. acquired a new position in shares of Aurora Innovation in the 3rd quarter valued at about $1,184,000. State Street Corp lifted its stake in shares of 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 purchasing an additional 2,920,653 shares in the last quarter. Finally, Creative Planning acquired a new position in shares of Aurora Innovation in the 3rd quarter valued at about $652,000. Hedge funds and other institutional investors 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.