Aurora Innovation (NASDAQ:AUR) Reaches New 52-Week High – Time to Buy?

Aurora Innovation, Inc. (NASDAQ:AUR) reached a new 52-week high during trading on Tuesday . The stock traded as high as $9.83 and last traded at $9.47, with a volume of 37315027 shares trading hands. The stock had previously closed at $6.50.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AUR shares. Wolfe Research assumed coverage on Aurora Innovation in a research note on Tuesday, November 26th. They issued a “peer perform” rating for the company. Evercore ISI increased 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. TD Cowen boosted their price target on Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Canaccord Genuity Group reissued a “buy” rating and issued a $7.00 price objective on shares of Aurora Innovation in a research report on Monday, September 30th. Finally, Cantor Fitzgerald initiated coverage on Aurora Innovation in a report on Tuesday, December 10th. They set an “overweight” rating and a $10.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Aurora Innovation currently has a consensus rating of “Hold” and a consensus target price of $5.70.

Aurora Innovation Price Performance

The stock has a market capitalization of $14.26 billion, a price-to-earnings ratio of -16.94 and a beta of 2.85. The firm’s fifty day moving average is $6.45 and its 200-day moving average is $5.14.

Insider Buying and Selling

In other news, Director Gloria R. Boyland sold 30,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was 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 $2,171,276.10. This represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Reid Hoffman sold 1,181,400 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $5.60, for a total transaction of $6,615,840.00. Following the completion of the sale, the director now owns 125,000 shares in the company, valued at approximately $700,000. This trade represents a 90.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders 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

A number of hedge funds have recently made changes to their positions in AUR. Everence Capital Management Inc. bought a new stake in Aurora Innovation during the fourth quarter valued at about $164,000. JPMorgan Chase & Co. grew its position in Aurora Innovation by 40.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,380,479 shares of the company’s stock worth $8,172,000 after purchasing an additional 394,933 shares during the last quarter. Franklin Resources Inc. bought a new position in shares of Aurora Innovation during the 3rd quarter worth about $72,000. Virtu Financial LLC acquired a new stake in Aurora Innovation during the third quarter worth about $337,000. Finally, Geode Capital Management LLC boosted its stake in shares of Aurora Innovation by 15.5% in the 3rd quarter. Geode Capital Management LLC now owns 22,796,526 shares of the company’s stock valued at $134,981,000 after purchasing an additional 3,064,342 shares in the last quarter. 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.