Aurora Innovation (NASDAQ:AUR) Hits New 52-Week High – Here’s Why

Aurora Innovation, Inc. (NASDAQ:AUR) reached a new 52-week high on Monday . The stock traded as high as $8.10 and last traded at $8.03, with a volume of 7858386 shares changing hands. The stock had previously closed at $6.97.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AUR shares. The Goldman Sachs Group raised their price objective on shares of Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a research note on Monday, November 4th. Evercore ISI boosted their price target on shares of Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. TD Cowen lifted 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. Canaccord Genuity Group restated a “buy” rating and set a $7.00 target price on shares of Aurora Innovation in a research note on Monday, September 30th. Finally, Wolfe Research began coverage on shares of Aurora Innovation in a research note on Tuesday, November 26th. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $5.70.

Aurora Innovation Trading Up 14.6 %

The stock has a market cap of $13.73 billion, a price-to-earnings ratio of -16.31 and a beta of 2.86. The stock’s 50 day moving average is $6.14 and its two-hundred day moving average is $4.62.

Insider Buying and Selling

In other Aurora Innovation news, Director Gloria R. Boyland sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $6.30, for a total transaction of $189,000.00. Following the transaction, the director now owns 344,647 shares in the company, valued at approximately $2,171,276.10. The trade was a 8.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Reid Hoffman sold 3,500,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $5.58, for a total value of $19,530,000.00. Following the completion of the transaction, the director now owns 382,425 shares of the company’s stock, valued at $2,133,931.50. The trade was a 90.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,776,667 shares of company stock valued at $48,432,337 over the last quarter. 13.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AUR. Sequoia Financial Advisors LLC purchased a new position in Aurora Innovation during the second quarter worth $30,000. Profund Advisors LLC purchased a new stake in Aurora Innovation during the 2nd quarter worth about $46,000. Vanguard Personalized Indexing Management LLC acquired a new position in Aurora Innovation in the 2nd quarter valued at about $51,000. Diversified Portfolios Inc. purchased a new position in Aurora Innovation in the 2nd quarter valued at about $54,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Aurora Innovation by 32.0% in the second quarter. Nisa Investment Advisors LLC now owns 19,412 shares of the company’s stock valued at $54,000 after buying an additional 4,702 shares during the last quarter. Institutional investors and hedge funds own 44.71% of the company’s stock.

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.