Aurora Innovation (NASDAQ:AUR) Trading Down 3%

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

Analyst Ratings Changes

A number of research firms have recently weighed in on AUR. The Goldman Sachs Group downgraded shares of Aurora Innovation from a “neutral” rating to a “sell” rating and upped their price target for the stock from $1.75 to $2.00 in a research note on Wednesday, January 3rd. TD Cowen lowered their target price 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 increased their target price 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 Stock Down 7.2 %

The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of -4.61 and a beta of 2.91. The company’s 50-day simple moving average is $2.73 and its 200 day simple moving average is $2.73.

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

Insider Activity

In other 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 sale, the director now directly owns 463,563 shares of the company’s stock, valued at $1,168,178.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 13.83% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aurora Innovation

Several hedge funds and other institutional investors have recently made changes to their positions in AUR. Parallel Advisors LLC lifted its stake in shares of Aurora Innovation by 91.9% in the fourth quarter. Parallel Advisors LLC now owns 7,100 shares of the company’s stock valued at $31,000 after buying an additional 3,400 shares during the period. Headlands Technologies LLC bought a new stake in shares of Aurora Innovation in the fourth quarter valued at about $41,000. KBC Group NV bought a new stake in shares of Aurora Innovation in the fourth quarter valued at about $49,000. Blueshift Asset Management LLC bought a new stake in shares of Aurora Innovation in the fourth quarter valued at about $53,000. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Aurora Innovation in the third quarter valued at about $27,000. 44.71% of the stock is owned by institutional investors and hedge funds.

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.