TD Cowen Cuts Aurora Innovation (NASDAQ:AUR) Price Target to $3.00

Aurora Innovation (NASDAQ:AUR) had its price objective trimmed by TD Cowen from $3.50 to $3.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has a market perform rating on the stock.

Separately, The Goldman Sachs Group cut Aurora Innovation from a neutral rating to a sell rating and upped their price objective for the stock from $1.75 to $2.00 in a report on Wednesday, January 3rd.

Aurora Innovation Price Performance

NASDAQ AUR traded up $0.20 during trading on Friday, reaching $2.44. The company’s stock had a trading volume of 9,356,863 shares, compared to its average volume of 6,364,979. The stock has a market capitalization of $3.75 billion, a PE ratio of -4.00 and a beta of 2.90. The firm has a fifty day moving average of $2.89 and a 200 day moving average of $2.77. Aurora Innovation has a one year low of $1.14 and a one year high of $4.81.

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

Insider Transactions at Aurora Innovation

In related news, Director Reid Hoffman sold 1,000,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $2.52, for a total transaction of $2,520,000.00. Following the completion of the sale, the director now directly owns 463,563 shares in the company, valued at approximately $1,168,178.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 18.81% of the company’s stock.

Institutional Investors Weigh In On Aurora Innovation

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