Aurora Innovation (NASDAQ:AUR) Shares Down 6.1% After Insider Selling

Aurora Innovation, Inc. (NASDAQ:AUR) traded down 6.1% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $5.02 and last traded at $5.05. 1,377,916 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 8,789,904 shares. The stock had previously closed at $5.38.

Specifically, Director Reid Hoffman sold 447,046 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $5.04, for a total transaction of $2,253,111.84. Following the completion of the sale, the director now directly owns 26,892 shares of the company’s stock, valued at approximately $135,535.68. This trade represents a 94.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 sale, the director now owns 125,000 shares in the company, valued at $700,000. This trade represents a 90.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Aurora Innovation news, Director Reid Hoffman sold 856,797 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $5.49, for a total transaction of $4,703,815.53. Following the sale, the director now directly owns 268,099 shares in the company, valued at $1,471,863.51. This represents a 76.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AUR. Evercore ISI upped their target price on shares of Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $7.00 price target on shares of Aurora Innovation in a report on Monday, September 30th. TD Cowen upped their price target on Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group increased their price objective on Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a report on Monday, November 4th.

Aurora Innovation Trading Down 7.2 %

The business has a 50 day simple moving average of $5.58 and a 200-day simple moving average of $4.09. The stock has a market capitalization of $8.57 billion, a price-to-earnings ratio of -10.18 and a beta of 2.82.

Institutional Investors Weigh In On Aurora Innovation

Hedge funds have recently modified their holdings of the stock. Amalgamated Bank boosted its position in Aurora Innovation by 10.0% during the 3rd quarter. Amalgamated Bank now owns 32,006 shares of the company’s stock valued at $189,000 after purchasing an additional 2,913 shares during the period. ASB Consultores LLC raised its position in shares of Aurora Innovation by 24.0% during the third quarter. ASB Consultores LLC now owns 15,955 shares of the company’s stock worth $94,000 after purchasing an additional 3,088 shares during the period. Glenmede Trust Co. NA raised its position in shares of Aurora Innovation by 14.6% during the third quarter. Glenmede Trust Co. NA now owns 31,779 shares of the company’s stock worth $188,000 after purchasing an additional 4,054 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Aurora Innovation by 32.0% during the second quarter. Nisa Investment Advisors LLC now owns 19,412 shares of the company’s stock worth $54,000 after purchasing an additional 4,702 shares during the period. Finally, Empowered Funds LLC raised its position in Aurora Innovation by 44.1% during the first quarter. Empowered Funds LLC now owns 17,597 shares of the company’s stock valued at $50,000 after buying an additional 5,386 shares during the period. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

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.