Aurora Innovation (NASDAQ:AUR) Shares Gap Up – Still a Buy?

Aurora Innovation, Inc. (NASDAQ:AUR) shares gapped up before the market opened on Tuesday . The stock had previously closed at $6.27, but opened at $6.61. Aurora Innovation shares last traded at $6.63, with a volume of 1,740,240 shares changing hands.

Analyst Ratings Changes

AUR has been the topic of several research analyst reports. Evercore ISI increased their price target 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. Wolfe Research initiated coverage on shares of Aurora Innovation in a research note on Tuesday, November 26th. They issued a “peer perform” rating on the stock. 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. TD Cowen raised 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. Finally, Cantor Fitzgerald started coverage on shares of Aurora Innovation in a research report on Tuesday, December 10th. They set an “overweight” rating and a $10.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Aurora Innovation presently has an average rating of “Hold” and a consensus price target of $6.30.

Aurora Innovation Trading Up 2.2 %

The firm’s 50 day simple moving average is $6.65 and its 200-day simple moving average is $5.35. The stock has a market capitalization of $11.74 billion, a price-to-earnings ratio of -13.94 and a beta of 2.85.

Insider Buying and Selling

In other 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 value of $189,000.00. Following the completion of the transaction, the director now directly owns 344,647 shares in the company, valued at approximately $2,171,276.10. The trade was a 8.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Reid Hoffman sold 1,393,874 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $5.45, for a total transaction of $7,596,613.30. Following the completion of the transaction, the director now owns 672,425 shares of the company’s stock, valued at $3,664,716.25. The trade was a 67.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,776,667 shares of company stock valued at $48,432,337. Company insiders own 13.83% of the company’s stock.

Hedge Funds Weigh In On Aurora Innovation

Institutional investors have recently added to or reduced their stakes in the stock. Profund Advisors LLC acquired a new position in Aurora Innovation during the 2nd quarter worth approximately $46,000. Vanguard Personalized Indexing Management LLC acquired a new position in Aurora Innovation during the 2nd quarter worth approximately $51,000. Souders Financial Advisors acquired a new position in Aurora Innovation during the 3rd quarter worth approximately $59,000. Dynamic Technology Lab Private Ltd acquired a new position in Aurora Innovation during the 3rd quarter worth approximately $60,000. Finally, Sigma Planning Corp acquired a new position in Aurora Innovation during the 3rd quarter worth approximately $63,000. 44.71% of the stock is currently 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.