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

Aurora Innovation, Inc. (NASDAQ:AUR) shares gapped down before the market opened on Tuesday . The stock had previously closed at $6.45, but opened at $6.24. Aurora Innovation shares last traded at $6.30, with a volume of 743,996 shares trading hands.

Wall Street Analyst Weigh In

AUR has been the subject of a number of recent analyst reports. Canaccord Genuity Group reiterated a “buy” rating and set a $7.00 price target on shares of Aurora Innovation in a research report on Monday, September 30th. Wolfe Research began coverage on shares of Aurora Innovation in a research note on Tuesday. They issued a “peer perform” rating for the company. Evercore ISI raised their price objective on shares of Aurora Innovation from $3.00 to $5.00 and gave the company an “in-line” rating in a research note on Monday, October 14th. The Goldman Sachs Group raised their price objective 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. Finally, TD Cowen lifted their price target on shares of Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $4.63.

Aurora Innovation Stock Down 2.6 %

The business’s fifty day simple moving average is $5.78 and its two-hundred day simple moving average is $4.22. The company has a market cap of $10.79 billion, a price-to-earnings ratio of -13.16 and a beta of 2.82.

Insiders Place Their Bets

In other news, Director Reid Hoffman sold 3,500,000 shares of Aurora Innovation stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $5.58, for a total value of $19,530,000.00. Following the transaction, the director now directly owns 382,425 shares of the company’s stock, valued at $2,133,931.50. The trade was a 90.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 8,746,667 shares of company stock valued at $48,243,337. 13.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Aurora Innovation

Several institutional investors have recently bought and sold shares of AUR. Baillie Gifford & Co. increased its stake in Aurora Innovation by 78.4% in the 2nd 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 period. FMR LLC boosted its position in shares of Aurora Innovation by 206.1% during the 3rd quarter. FMR LLC now owns 13,848,530 shares of the company’s stock worth $81,983,000 after purchasing an additional 9,325,013 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Aurora Innovation by 273.5% during 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 purchasing an additional 3,800,901 shares in the last quarter. Geode Capital Management LLC boosted its position 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 boosted its position in shares of Aurora Innovation by 15.2% during the 3rd quarter. State Street Corp now owns 22,183,252 shares of the company’s stock worth $131,325,000 after purchasing an additional 2,920,653 shares in the last quarter. 44.71% of the stock is owned by institutional investors and hedge funds.

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.