Aurora Innovation (NASDAQ:AUR) Shares Gap Down – Should You Sell?

Aurora Innovation, Inc. (NASDAQ:AUR) shares gapped down before the market opened on Wednesday . The stock had previously closed at $8.39, but opened at $8.02. Aurora Innovation shares last traded at $7.49, with a volume of 5,140,292 shares.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a report on Monday, November 4th. Wolfe Research initiated coverage on Aurora Innovation in a report on Tuesday, November 26th. They set a “peer perform” rating for the company. TD Cowen raised their price target on shares of Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Canaccord Genuity Group lifted their price target on Aurora Innovation from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Cantor Fitzgerald began coverage on Aurora Innovation in a research note on Tuesday, December 10th. They issued an “overweight” rating and a $10.00 price objective for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Aurora Innovation presently has a consensus rating of “Hold” and a consensus price target of $6.30.

Aurora Innovation Stock Down 9.1 %

The firm has a market capitalization of $13.11 billion, a PE ratio of -15.57 and a beta of 2.85. The stock has a 50-day simple moving average of $6.48 and a 200-day simple moving average of $5.18.

Insider Buying and Selling

In other news, Director Gloria R. Boyland sold 30,000 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $6.30, for a total value of $189,000.00. Following the completion of the transaction, the director now directly owns 344,647 shares of the company’s stock, valued at $2,171,276.10. This trade represents a 8.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Reid Hoffman sold 3,500,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $5.58, for a total value of $19,530,000.00. Following the sale, the director now owns 382,425 shares in the company, valued at approximately $2,133,931.50. The trade was a 90.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,776,667 shares of company stock valued at $48,432,337. 13.83% of the stock is owned by insiders.

Hedge Funds Weigh In On Aurora Innovation

Several hedge funds have recently bought and sold shares of AUR. Baillie Gifford & Co. raised its holdings in shares of Aurora Innovation by 17.2% in the 3rd quarter. Baillie Gifford & Co. now owns 84,904,647 shares of the company’s stock valued at $502,636,000 after acquiring an additional 12,466,085 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Aurora Innovation by 15.5% during the 3rd quarter. Geode Capital Management LLC now owns 22,796,526 shares of the company’s stock valued at $134,981,000 after buying an additional 3,064,342 shares in the last quarter. State Street Corp lifted its holdings in shares of Aurora Innovation by 15.2% during the 3rd quarter. State Street Corp now owns 22,183,252 shares of the company’s stock worth $131,325,000 after acquiring an additional 2,920,653 shares during the last quarter. FMR LLC grew its position in Aurora Innovation by 206.1% in the third quarter. FMR LLC now owns 13,848,530 shares of the company’s stock worth $81,983,000 after acquiring an additional 9,325,013 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake 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 acquiring an additional 2,502,002 shares during the last quarter. Hedge funds and other 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.