Wolfe Research Initiates Coverage on Aurora Innovation (NASDAQ:AUR)

Wolfe Research initiated coverage on shares of Aurora Innovation (NASDAQ:AUR) in a report published on Tuesday, Marketbeat.com reports. The brokerage issued a peer perform rating on the stock.

Several other research analysts have also issued reports on the stock. 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 report on Thursday, October 31st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $7.00 target price on shares of Aurora Innovation in a research report on Monday, September 30th. The Goldman Sachs Group upped their target price on Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a report on Monday, November 4th. Finally, Evercore ISI boosted 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 investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.63.

Aurora Innovation Price Performance

Shares of AUR opened at $6.05 on Tuesday. The firm’s 50 day moving average is $5.78 and its 200-day moving average is $4.22. Aurora Innovation has a 12-month low of $2.06 and a 12-month high of $7.01. The stock has a market capitalization of $10.40 billion, a P/E ratio of -13.16 and a beta of 2.82.

Insider Activity

In other news, Director Reid Hoffman sold 537,837 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $5.48, for a total value of $2,947,346.76. Following the transaction, the director now owns 286,247 shares in the company, valued at $1,568,633.56. This represents a 65.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 8,746,667 shares of company stock worth $48,243,337 over the last quarter. Corporate insiders own 13.83% of the company’s stock.

Institutional Trading of Aurora Innovation

Several institutional investors have recently made changes to their positions in the stock. Sterling Investment Advisors Ltd. purchased a new stake in Aurora Innovation in the 3rd quarter worth approximately $1,184,000. Vanguard Group Inc. raised its holdings in shares of Aurora Innovation by 1.5% during the first quarter. Vanguard Group Inc. now owns 84,784,550 shares of the company’s stock worth $239,092,000 after acquiring an additional 1,267,962 shares in the last quarter. Creative Planning acquired a new stake in Aurora Innovation during the third quarter valued at $652,000. The Manufacturers Life Insurance Company grew its stake in Aurora Innovation by 67.9% in the second quarter. The Manufacturers Life Insurance Company now owns 500,535 shares of the company’s stock valued at $1,386,000 after purchasing an additional 202,413 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new position in Aurora Innovation in the 3rd quarter worth about $2,681,000. 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.