Aurora Innovation (NASDAQ:AUR) Shares Gap Down to $3.36

Aurora Innovation, Inc. (NASDAQ:AUR)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $3.36, but opened at $3.14. Aurora Innovation shares last traded at $3.24, with a volume of 774,531 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AUR. Canaccord Genuity Group boosted their price objective on Aurora Innovation from $5.50 to $6.00 and gave the company a “buy” rating in a research report on Friday, March 15th. TD Cowen dropped their price target on shares of Aurora Innovation from $3.50 to $3.00 and set a “market perform” rating on the stock in a research report on Friday, March 15th.

Aurora Innovation Price Performance

The stock’s 50-day moving average price is $2.74 and its 200 day moving average price is $2.84. The firm has a market capitalization of $5.39 billion, a PE ratio of -5.87 and a beta of 2.85.

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

Insider Activity

In other Aurora Innovation news, Director Reid Hoffman sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $2.52, for a total transaction of $2,520,000.00. Following the completion of the transaction, the director now owns 463,563 shares of the company’s stock, valued at $1,168,178.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.83% of the company’s stock.

Hedge Funds Weigh In On Aurora Innovation

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Swiss National Bank grew its stake in shares of Aurora Innovation by 53.7% in the third quarter. Swiss National Bank now owns 1,289,900 shares of the company’s stock worth $3,031,000 after acquiring an additional 450,400 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Aurora Innovation by 73.2% during the third quarter. Vanguard Group Inc. now owns 78,891,029 shares of the company’s stock worth $185,394,000 after acquiring an additional 33,348,395 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in Aurora Innovation in the 3rd quarter worth $1,812,000. WBH Advisory Inc. bought a new position in Aurora Innovation in the fourth quarter valued at $125,000. Finally, Bank of New York Mellon Corp lifted its stake in Aurora Innovation by 30.6% in the third quarter. Bank of New York Mellon Corp now owns 1,494,533 shares of the company’s stock valued at $3,512,000 after acquiring an additional 350,267 shares during the last quarter. 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.