Aurora Innovation (NASDAQ:AUR) Trading Down 3%

Shares of Aurora Innovation, Inc. (NASDAQ:AUR) dropped 3% during mid-day trading on Thursday . The stock traded as low as $2.89 and last traded at $2.95. Approximately 1,867,894 shares were traded during trading, a decline of 73% from the average daily volume of 6,925,993 shares. The stock had previously closed at $3.04.

Wall Street Analysts Forecast Growth

AUR has been the topic of several analyst reports. Canaccord Genuity Group raised their price objective on Aurora Innovation from $5.50 to $6.00 and gave the stock a “buy” rating in a report on Friday, March 15th. The Goldman Sachs Group cut Aurora Innovation from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $1.75 to $2.00 in a report on Wednesday, January 3rd. Finally, TD Cowen decreased their price objective on Aurora Innovation from $3.50 to $3.00 and set a “market perform” rating on the stock in a report on Friday, March 15th.

Aurora Innovation Stock Down 7.2 %

The stock has a market cap of $4.33 billion, a price-to-earnings ratio of -4.61 and a beta of 2.91. The stock has a fifty day moving average of $2.73 and a two-hundred day moving average of $2.73.

Aurora Innovation (NASDAQ:AUR) last issued its earnings results on Wednesday, February 14th. The company reported ($0.13) earnings per share for the quarter.

Insider Buying and Selling at Aurora Innovation

In other Aurora Innovation news, Director Reid Hoffman sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $2.52, for a total value of $2,520,000.00. Following the transaction, the director now directly owns 463,563 shares of the company’s stock, valued at $1,168,178.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 13.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AUR. Parallel Advisors LLC increased its position in shares of Aurora Innovation by 91.9% during the fourth quarter. Parallel Advisors LLC now owns 7,100 shares of the company’s stock worth $31,000 after acquiring an additional 3,400 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Aurora Innovation during the fourth quarter worth about $41,000. KBC Group NV purchased a new stake in shares of Aurora Innovation during the fourth quarter worth about $49,000. Blueshift Asset Management LLC purchased a new stake in shares of Aurora Innovation during the fourth quarter worth about $53,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of Aurora Innovation during the third quarter worth about $27,000. 44.71% of the stock is owned by hedge funds and other institutional investors.

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.