Aurora Innovation (NASDAQ:AUR) Shares Gap Down to $3.00

Aurora Innovation, Inc. (NASDAQ:AUR)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $3.00, but opened at $2.91. Aurora Innovation shares last traded at $2.92, with a volume of 623,995 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AUR. The Goldman Sachs Group downgraded Aurora Innovation from a “neutral” rating to a “sell” rating and raised their price target for the stock from $1.75 to $2.00 in a research report on Wednesday, January 3rd. TD Cowen reduced their price objective on shares of Aurora Innovation from $3.50 to $3.00 and set a “market perform” rating on the stock in a research report on Friday, March 15th. Finally, Canaccord Genuity Group boosted their target price on Aurora Innovation from $5.50 to $6.00 and gave the company a “buy” rating in a research report on Friday, March 15th.

Aurora Innovation Price Performance

The stock’s 50-day moving average price is $2.73 and its 200 day moving average price is $2.73. The firm has a market capitalization of $4.67 billion, a PE ratio of -4.98 and a beta of 2.91.

Aurora Innovation (NASDAQ:AUR) last posted its quarterly earnings results on Wednesday, February 14th. The company reported ($0.13) earnings per share (EPS) for the quarter.

Insider Buying and Selling at Aurora Innovation

In other Aurora Innovation news, Director Reid Hoffman sold 592,249 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $2.77, for a total transaction of $1,640,529.73. Following the completion of the sale, the director now owns 648,563 shares in the company, valued at $1,796,519.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 13.83% of the company’s stock.

Institutional Trading of Aurora Innovation

Several hedge funds have recently modified their holdings of AUR. Morgan Stanley raised its stake in shares of Aurora Innovation by 277.4% during the 3rd quarter. Morgan Stanley now owns 85,015,346 shares of the company’s stock worth $199,786,000 after acquiring an additional 62,491,033 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Aurora Innovation by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 83,516,588 shares of the company’s stock worth $364,967,000 after purchasing an additional 4,625,559 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Aurora Innovation by 0.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 59,824,382 shares of the company’s stock valued at $261,433,000 after purchasing an additional 158,114 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of Aurora Innovation by 125.3% in the 3rd quarter. Baillie Gifford & Co. now owns 33,634,164 shares of the company’s stock worth $79,040,000 after purchasing an additional 18,703,703 shares in the last quarter. Finally, BlackRock Inc. grew its stake in Aurora Innovation by 311.4% during the 2nd quarter. BlackRock Inc. now owns 24,759,996 shares of the company’s stock worth $72,794,000 after buying an additional 18,740,928 shares during the last quarter. 44.71% of the stock is 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.