Aurora Innovation (NASDAQ:AUR) Sees Strong Trading Volume After Insider Buying Activity

Aurora Innovation, Inc. (NASDAQ:AUR) shares saw unusually-strong trading volume on Friday after an insider bought additional shares in the company. Approximately 35,431,401 shares were traded during mid-day trading, an increase of 84% from the previous session’s volume of 19,294,834 shares.The stock last traded at $6.09 and had previously closed at $6.20.

Specifically, Director John J. Donahoe bought 162,337 shares of the stock in a transaction on Wednesday, August 6th. The stock was bought at an average price of $6.10 per share, for a total transaction of $990,255.70. Following the completion of the acquisition, the director directly owned 162,337 shares in the company, valued at approximately $990,255.70. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

A number of analysts have weighed in on AUR shares. Canaccord Genuity Group upped their target price on Aurora Innovation from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Needham & Company LLC upped their target price on Aurora Innovation from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Finally, The Goldman Sachs Group upped their target price on Aurora Innovation from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Monday, May 12th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Aurora Innovation currently has an average rating of “Moderate Buy” and an average price target of $10.75.

Aurora Innovation Stock Down 0.6%

The business has a 50-day moving average price of $5.71 and a 200-day moving average price of $6.51. The firm has a market capitalization of $11.37 billion, a price-to-earnings ratio of -13.11 and a beta of 2.49.

Aurora Innovation (NASDAQ:AUR) last issued its quarterly earnings results on Wednesday, July 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $0.50 million. On average, equities research analysts forecast that Aurora Innovation, Inc. will post -0.49 earnings per share for the current year.

Hedge Funds Weigh In On Aurora Innovation

A number of large investors have recently made changes to their positions in the business. Cetera Investment Advisers increased its position in shares of Aurora Innovation by 66.5% in the 2nd quarter. Cetera Investment Advisers now owns 112,351 shares of the company’s stock valued at $589,000 after acquiring an additional 44,867 shares during the period. SG Americas Securities LLC increased its position in shares of Aurora Innovation by 252.0% in the 2nd quarter. SG Americas Securities LLC now owns 68,460 shares of the company’s stock valued at $359,000 after acquiring an additional 49,009 shares during the period. Evolution Wealth Advisors LLC acquired a new position in shares of Aurora Innovation in the 2nd quarter valued at $52,000. Police & Firemen s Retirement System of New Jersey increased its position in shares of Aurora Innovation by 83.0% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 374,993 shares of the company’s stock valued at $1,965,000 after acquiring an additional 170,100 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of Aurora Innovation by 116.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 16,624 shares of the company’s stock valued at $87,000 after acquiring an additional 8,941 shares during the period. 44.71% of the stock is 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.