Aurora Innovation (NASDAQ:AUR) Shares Gap Up Following Insider Buying Activity

Aurora Innovation, Inc. (NASDAQ:AUR)’s stock price gapped up prior to trading on Wednesday following insider buying activity. The stock had previously closed at $3.92, but opened at $4.09. Aurora Innovation shares last traded at $4.0630, with a volume of 2,447,908 shares trading hands.

Specifically, CEO Christopher Urmson purchased 258,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were acquired at an average price of $3.88 per share, with a total value of $1,001,040.00. Following the purchase, the chief executive officer directly owned 258,000 shares of the company’s stock, valued at $1,001,040. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Wall Street Analysts Forecast Growth

AUR has been the subject of several research analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Aurora Innovation in a research note on Wednesday, October 29th. UBS Group reissued an “underperform” rating on shares of Aurora Innovation in a report on Wednesday, October 29th. TD Cowen dropped their price target on Aurora Innovation from $7.40 to $5.50 and set a “hold” rating for the company in a research report on Thursday, October 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aurora Innovation in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group lowered their price objective on shares of Aurora Innovation from $6.00 to $4.00 and set a “neutral” rating on the stock in a research note on Wednesday. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.06.

Aurora Innovation Price Performance

The company has a 50-day moving average price of $4.96 and a 200-day moving average price of $5.56. The firm has a market capitalization of $7.84 billion, a PE ratio of -9.00 and a beta of 2.44.

Aurora Innovation (NASDAQ:AUR) last posted its quarterly earnings data on Tuesday, October 28th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. The company had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $1.23 million. During the same quarter in the prior year, the business posted ($0.13) EPS. On average, research analysts predict that Aurora Innovation, Inc. will post -0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aurora Innovation

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Danske Bank A S purchased a new position in shares of Aurora Innovation during the third quarter valued at approximately $36,000. Farther Finance Advisors LLC raised its holdings in Aurora Innovation by 463.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 7,616 shares of the company’s stock valued at $40,000 after acquiring an additional 6,264 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in Aurora Innovation in the 3rd quarter valued at $44,000. PNC Financial Services Group Inc. lifted its stake in shares of Aurora Innovation by 37.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,683 shares of the company’s stock worth $52,000 after purchasing an additional 2,085 shares during the period. Finally, Autumn Glory Partners LLC acquired a new stake in shares of Aurora Innovation during the second quarter worth $52,000. 44.71% of the stock is currently 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.