Aurora Innovation (NASDAQ:AUR) Shares Up 8% – Here’s What Happened

Aurora Innovation, Inc. (NASDAQ:AUR)’s stock price shot up 8% during mid-day trading on Friday . The company traded as high as $6.59 and last traded at $6.59. 1,479,238 shares changed hands during trading, a decline of 69% from the average session volume of 4,759,461 shares. The stock had previously closed at $6.10.

Wall Street Analysts Forecast Growth

AUR has been the topic of a number of recent analyst reports. TD Cowen upped their target price on shares of Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Cantor Fitzgerald initiated coverage on shares of Aurora Innovation in a report on Tuesday, December 10th. They issued an “overweight” rating and a $10.00 price objective on the stock. The Goldman Sachs Group lifted their target price on shares of Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a report on Monday, November 4th. Evercore ISI upped their price target on Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. Finally, Wolfe Research began coverage on Aurora Innovation in a research note on Tuesday, November 26th. They issued a “peer perform” rating for the company. One 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.70.

Aurora Innovation Trading Up 9.7 %

The stock’s fifty day simple moving average is $6.45 and its 200-day simple moving average is $5.04. The company has a market capitalization of $11.50 billion, a price-to-earnings ratio of -13.65 and a beta of 2.86.

Insider Activity

In other Aurora Innovation news, Director Gloria R. Boyland sold 30,000 shares of the business’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 transaction of $189,000.00. Following the completion of the transaction, the director now owns 344,647 shares in the company, valued at $2,171,276.10. The trade was a 8.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Reid Hoffman sold 3,500,000 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 382,425 shares in the company, valued at $2,133,931.50. The trade was a 90.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,776,667 shares of company stock worth $48,432,337. Corporate insiders own 13.83% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its stake in Aurora Innovation by 273.5% during the second quarter. Bank of New York Mellon Corp now owns 5,190,426 shares of the company’s stock worth $14,377,000 after purchasing an additional 3,800,901 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Aurora Innovation by 56.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 157,010 shares of the company’s stock valued at $435,000 after buying an additional 56,874 shares during the last quarter. Principal Financial Group Inc. raised its stake in Aurora Innovation by 143.4% during the 2nd quarter. Principal Financial Group Inc. now owns 99,270 shares of the company’s stock worth $275,000 after acquiring an additional 58,477 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in Aurora Innovation in the second quarter valued at $90,000. Finally, Rhumbline Advisers boosted its stake in Aurora Innovation by 114.7% in the second quarter. Rhumbline Advisers now owns 1,160,176 shares of the company’s stock valued at $3,214,000 after acquiring an additional 619,791 shares in the last quarter. 44.71% of the stock is 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.