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

Aurora Innovation, Inc. (NASDAQ:AUR)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $7.18, but opened at $6.93. Aurora Innovation shares last traded at $7.07, with a volume of 1,481,962 shares.

Wall Street Analysts Forecast Growth

AUR has been the topic of several analyst reports. 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 research note on Monday, October 14th. Canaccord Genuity Group reissued a “buy” rating and set a $7.00 target price on shares of Aurora Innovation in a research report on Monday, September 30th. TD Cowen raised their price target on Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Wolfe Research initiated coverage on shares of Aurora Innovation in a research note on Tuesday, November 26th. They set a “peer perform” rating for the company. Finally, The Goldman Sachs Group increased their target price 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. One investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.70.

Aurora Innovation Price Performance

The stock’s fifty day moving average price is $6.31 and its 200 day moving average price is $4.73. The stock has a market capitalization of $12.73 billion, a P/E ratio of -15.12 and a beta of 2.86.

Insiders Place Their Bets

In other Aurora Innovation news, Director Reid Hoffman sold 447,046 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $5.04, for a total transaction of $2,253,111.84. Following the transaction, the director now directly owns 26,892 shares in the company, valued at $135,535.68. This represents a 94.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gloria R. Boyland sold 30,000 shares of the business’s stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders have sold 8,776,667 shares of company stock worth $48,432,337 in the last three months. Corporate insiders own 13.83% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AUR. Franklin Resources Inc. bought a new stake in shares of Aurora Innovation in the 3rd quarter valued at about $72,000. Virtu Financial LLC purchased a new stake in Aurora Innovation during the third quarter valued at approximately $337,000. Geode Capital Management LLC boosted its stake in Aurora Innovation by 15.5% in the third quarter. Geode Capital Management LLC now owns 22,796,526 shares of the company’s stock valued at $134,981,000 after acquiring an additional 3,064,342 shares in the last quarter. Abel Hall LLC purchased a new position in Aurora Innovation in the third quarter worth $88,000. Finally, Barclays PLC increased its position in shares of Aurora Innovation by 431.9% during the third quarter. Barclays PLC now owns 1,709,749 shares of the company’s stock worth $10,122,000 after purchasing an additional 1,388,307 shares in the last quarter. 44.71% of the stock is owned by institutional investors.

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.