Aurora Innovation (NASDAQ:AUR) Shares Up 4.2%

Aurora Innovation, Inc. (NASDAQ:AUR) shares shot up 4.2% on Thursday . The stock traded as high as $2.78 and last traded at $2.76. 476,488 shares were traded during mid-day trading, a decline of 93% from the average session volume of 6,464,554 shares. The stock had previously closed at $2.65.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AUR. The Goldman Sachs Group cut shares of Aurora Innovation from a “neutral” rating to a “sell” rating and boosted their price target for the stock from $1.75 to $2.00 in a research report on Wednesday, January 3rd. TD Cowen reduced 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. Finally, Canaccord Genuity Group boosted their price target on shares of Aurora Innovation from $5.50 to $6.00 and gave the stock a “buy” rating in a research report on Friday, March 15th.

Aurora Innovation Price Performance

The firm has a market cap of $4.28 billion, a P/E ratio of -4.66 and a beta of 2.90. The stock’s 50-day simple moving average is $2.77 and its two-hundred day simple moving average is $2.72.

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

Insider Activity

In other news, Director Reid Hoffman sold 592,249 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $2.77, for a total transaction of $1,640,529.73. Following the completion of the sale, the director now directly owns 648,563 shares of the company’s stock, valued at $1,796,519.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 18.81% of the company’s stock.

Institutional Trading of Aurora Innovation

A number of hedge funds have recently added to or reduced their stakes in AUR. Parallel Advisors LLC increased its holdings 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 valued at $31,000 after acquiring an additional 3,400 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Aurora Innovation during the fourth quarter valued at about $41,000. KBC Group NV acquired a new position in shares of Aurora Innovation during the fourth quarter valued at about $49,000. Blueshift Asset Management LLC acquired a new position in shares of Aurora Innovation during the fourth quarter valued at about $53,000. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Aurora Innovation during the third quarter valued at 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.