Aurora Innovation (NASDAQ:AUR) Shares Up 9.6% – Still a Buy?

Aurora Innovation, Inc. (NASDAQ:AUR) shot up 9.6% during trading on Friday . The company traded as high as $6.58 and last traded at $6.51. 10,959,534 shares changed hands during mid-day trading, an increase of 23% from the average session volume of 8,928,380 shares. The stock had previously closed at $5.94.

Analyst Upgrades and Downgrades

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

Aurora Innovation Price Performance

The stock has a market capitalization of $11.15 billion, a price-to-earnings ratio of -13.24 and a beta of 2.82. The business has a 50 day simple moving average of $5.75 and a 200-day simple moving average of $4.19.

Insider Buying and Selling at Aurora Innovation

In other news, Director Reid Hoffman sold 1,181,400 shares of the company’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 completion of the transaction, the director now directly owns 125,000 shares of the company’s stock, valued at $700,000. This represents a 90.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders sold 8,746,667 shares of company stock valued at $48,243,337. Company insiders own 13.83% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Amalgamated Bank boosted its position in shares of Aurora Innovation by 10.0% during the third quarter. Amalgamated Bank now owns 32,006 shares of the company’s stock worth $189,000 after buying an additional 2,913 shares during the period. ASB Consultores LLC boosted 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 buying an additional 3,088 shares during the period. Glenmede Trust Co. NA boosted 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 buying an additional 4,054 shares during the period. Nisa Investment Advisors LLC boosted its position in Aurora Innovation by 32.0% during the second quarter. Nisa Investment Advisors LLC now owns 19,412 shares of the company’s stock valued at $54,000 after purchasing an additional 4,702 shares during the last quarter. Finally, KBC Group NV boosted its position in Aurora Innovation by 41.1% during the third quarter. KBC Group NV now owns 26,092 shares of the company’s stock valued at $154,000 after purchasing an additional 7,595 shares during the last quarter. 44.71% of the stock is owned by institutional investors and hedge funds.

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.