Aurora Innovation (NASDAQ:AUR) Given New $5.00 Price Target at Evercore ISI

Aurora Innovation (NASDAQ:AUR) had its target price raised by Evercore ISI from $3.00 to $5.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s price target points to a potential downside of 14.24% from the stock’s previous close.

Separately, Canaccord Genuity Group reiterated a “buy” rating and set a $7.00 price objective on shares of Aurora Innovation in a research note on Monday, September 30th.

Aurora Innovation Trading Up 1.4 %

Shares of AUR stock opened at $5.83 on Monday. The stock has a 50 day simple moving average of $4.60 and a 200 day simple moving average of $3.57. Aurora Innovation has a 1 year low of $1.60 and a 1 year high of $6.79. The stock has a market cap of $9.15 billion, a P/E ratio of -11.90 and a beta of 2.80.

Aurora Innovation (NASDAQ:AUR) last released its earnings results on Wednesday, July 31st. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased 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 buying an additional 1,267,962 shares in the last quarter. Baillie Gifford & Co. increased its holdings in Aurora Innovation by 78.4% in the 2nd quarter. Baillie Gifford & Co. now owns 72,438,562 shares of the company’s stock worth $200,655,000 after purchasing an additional 31,841,994 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Aurora Innovation by 23.1% in the second quarter. Dimensional Fund Advisors LP now owns 13,337,429 shares of the company’s stock valued at $36,941,000 after purchasing an additional 2,502,002 shares during the last quarter. Primecap Management Co. CA boosted its stake in shares of Aurora Innovation by 1.0% during the second quarter. Primecap Management Co. CA now owns 10,217,700 shares of the company’s stock valued at $28,303,000 after purchasing an additional 102,800 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Aurora Innovation by 273.5% during the second quarter. Bank of New York Mellon Corp now owns 5,190,426 shares of the company’s stock worth $14,377,000 after purchasing an additional 3,800,901 shares during the last quarter. Institutional investors own 44.71% of the company’s stock.

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.