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

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

Analyst Ratings Changes

Several research analysts recently commented on AUR shares. The Goldman Sachs Group increased their price target on Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a research report on Monday, November 4th. Canaccord Genuity Group restated a “buy” rating and issued a $7.00 price objective on shares of Aurora Innovation in a research note on Monday, September 30th. 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 research note on Monday, October 14th. Finally, TD Cowen upped their price objective on Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a research note on Thursday, October 31st.

Aurora Innovation Stock Up 9.3 %

The firm has a 50 day simple moving average of $5.75 and a 200-day simple moving average of $4.19. The stock has a market cap of $11.15 billion, a P/E ratio of -13.24 and a beta of 2.82.

Insider Transactions at Aurora Innovation

In other news, Director Reid Hoffman sold 447,046 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $5.04, for a total transaction of $2,253,111.84. Following the transaction, the director now owns 26,892 shares in the company, valued at approximately $135,535.68. This trade represents a 94.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 8,746,667 shares of company stock worth $48,243,337. Company insiders own 13.83% of the company’s stock.

Hedge Funds Weigh In On Aurora Innovation

A number of large investors have recently made changes to their positions in the company. Virtu Financial LLC bought a new position in Aurora Innovation during the 3rd quarter worth $337,000. Geode Capital Management LLC increased its stake in Aurora Innovation by 15.5% during the 3rd quarter. Geode Capital Management LLC now owns 22,796,526 shares of the company’s stock worth $134,981,000 after acquiring an additional 3,064,342 shares during the period. Abel Hall LLC bought a new position in Aurora Innovation during the 3rd quarter worth $88,000. Barclays PLC increased its stake in Aurora Innovation by 431.9% during the 3rd quarter. Barclays PLC now owns 1,709,749 shares of the company’s stock worth $10,122,000 after acquiring an additional 1,388,307 shares during the period. Finally, Wellington Management Group LLP increased its stake in Aurora Innovation by 173.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,381,589 shares of the company’s stock worth $14,099,000 after acquiring an additional 1,512,061 shares during the period. 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.