Aurora Innovation (NASDAQ:AUR) Price Target Raised to $6.00

Aurora Innovation (NASDAQ:AUR) had its price objective hoisted by Canaccord Genuity Group from $5.50 to $6.00 in a report issued on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently commented on AUR. TD Cowen lowered their price objective on shares of Aurora Innovation from $3.50 to $3.00 and set a market perform rating for the company in a research note on Friday. The Goldman Sachs Group downgraded shares of Aurora Innovation from a neutral rating to a sell rating and lifted their price objective for the stock from $1.75 to $2.00 in a research note on Wednesday, January 3rd.

Aurora Innovation Price Performance

NASDAQ AUR traded up $0.20 on Friday, hitting $2.44. The stock had a trading volume of 9,356,863 shares, compared to its average volume of 6,364,979. The business’s fifty day moving average price is $2.89 and its 200 day moving average price is $2.77. Aurora Innovation has a 52-week low of $1.14 and a 52-week high of $4.81. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of -4.00 and a beta of 2.90.

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

Insider Activity

In other news, Director Reid Hoffman sold 1,000,000 shares of the business’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 completion of the transaction, the director now owns 463,563 shares of the company’s stock, valued at approximately $1,168,178.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 18.81% of the company’s stock.

Hedge Funds Weigh In On Aurora Innovation

A number of large investors have recently bought and sold shares of AUR. Bank of New York Mellon Corp raised its holdings in Aurora Innovation by 104.5% in the 1st quarter. Bank of New York Mellon Corp now owns 250,251 shares of the company’s stock worth $1,399,000 after purchasing an additional 127,900 shares during the period. HighTower Advisors LLC acquired a new position in shares of Aurora Innovation during the first quarter valued at approximately $543,000. PNC Financial Services Group Inc. raised its holdings in shares of Aurora Innovation by 100.0% during the first quarter. PNC Financial Services Group Inc. now owns 40,000 shares of the company’s stock valued at $224,000 after acquiring an additional 20,000 shares during the last quarter. Rhumbline Advisers acquired a new position in shares of Aurora Innovation during the first quarter valued at approximately $121,000. Finally, BlackRock Inc. raised its holdings in shares of Aurora Innovation by 2.5% during the first quarter. BlackRock Inc. now owns 3,630,346 shares of the company’s stock valued at $20,293,000 after acquiring an additional 89,330 shares during the last quarter. Institutional investors and hedge funds own 42.34% of the company’s stock.

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.