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

Aurora Innovation, Inc. (NASDAQ:AUR)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $6.45, but opened at $6.24. Aurora Innovation shares last traded at $6.30, with a volume of 743,996 shares.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AUR shares. Wolfe Research began coverage on Aurora Innovation in a report on Tuesday. They set a “peer perform” rating on the stock. TD Cowen boosted their price target on Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. The Goldman Sachs Group increased their price objective on Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a research note on Monday, November 4th. Canaccord Genuity Group restated a “buy” rating and issued a $7.00 target price on shares of Aurora Innovation in a research note on Monday, September 30th. Finally, Evercore ISI increased their target price on shares of Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Aurora Innovation presently has an average rating of “Hold” and an average price target of $4.63.

Aurora Innovation Stock Performance

The company has a 50-day simple moving average of $5.80 and a 200-day simple moving average of $4.24. The stock has a market cap of $11.15 billion, a P/E ratio of -13.24 and a beta of 2.82.

Insider Activity at Aurora Innovation

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Souders Financial Advisors bought a new stake in shares of Aurora Innovation during the third quarter worth approximately $59,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Aurora Innovation during the 3rd quarter valued at $60,000. Reynders McVeigh Capital Management LLC acquired a new position in shares of Aurora Innovation in the 3rd quarter valued at $63,000. Sigma Planning Corp bought a new position in shares of Aurora Innovation in the 3rd quarter worth $63,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Aurora Innovation during the second quarter worth $30,000. 44.71% of the stock is currently owned by institutional investors and hedge funds.

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.