Aurora Innovation (NASDAQ:AUR) Shares Gap Down – Here’s Why

by · The Markets Daily

Aurora Innovation, Inc. (NASDAQ:AUR – Get Free Report)’s share 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

A number of research analysts have issued reports on the stock. The Goldman Sachs Group upped 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. TD Cowen upped their price objective on shares of Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Wolfe Research assumed coverage on shares of Aurora Innovation in a research note on Tuesday, November 26th. They issued a “peer perform” rating for the company. Canaccord Genuity Group boosted their price target on Aurora Innovation from $7.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Evercore ISI raised their price objective on Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Aurora Innovation currently has a consensus rating of “Hold” and a consensus price target of $6.30.

Check Out Our Latest Report on Aurora Innovation

Aurora Innovation Price Performance

The stock has a market cap of $12.01 billion, a price-to-earnings ratio of -14.27 and a beta of 2.85. The firm’s 50-day moving average is $6.56 and its 200 day moving average is $5.22.

Insider Transactions at Aurora Innovation

In related news, Director Gloria R. Boyland sold 30,000 shares of the company’s stock in a transaction 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 sale, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Reid Hoffman sold 3,500,000 shares of the 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 completion of the sale, the director now owns 382,425 shares of the company’s stock, valued at approximately $2,133,931.50. This represents a 90.15 % 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. Insiders own 13.83% of the company’s stock.

Institutional Investors Weigh In On Aurora Innovation

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

About Aurora Innovation

(Get Free Report)

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.

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