Aurora Innovation (NASDAQ:AUR) Price Target Cut to $3.00

Aurora Innovation (NASDAQ:AUR) had its price objective decreased by research analysts at TD Cowen from $3.50 to $3.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. TD Cowen’s price objective points to a potential upside of 22.95% from the company’s current price.

Separately, The Goldman Sachs Group downgraded Aurora Innovation from a “neutral” rating to a “sell” rating and raised their target price for the company from $1.75 to $2.00 in a research note on Wednesday, January 3rd.

Aurora Innovation Price Performance

NASDAQ:AUR traded up $0.20 during trading hours on Friday, reaching $2.44. 9,356,863 shares of the company were exchanged, compared to its average volume of 6,364,979. The company has a market capitalization of $3.75 billion, a P/E ratio of -4.00 and a beta of 2.90. Aurora Innovation has a 1-year low of $1.14 and a 1-year high of $4.81. The business has a 50 day moving average of $2.89 and a 200 day moving average of $2.77.

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

Insider Activity

In related news, Director Reid Hoffman sold 1,000,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were 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 directly owns 463,563 shares of the company’s stock, valued at $1,168,178.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 18.81% of the company’s stock.

Institutional Investors Weigh In On Aurora Innovation

A number of institutional investors have recently made changes to their positions in AUR. Morgan Stanley raised its position in Aurora Innovation by 277.4% in the third quarter. Morgan Stanley now owns 85,015,346 shares of the company’s stock worth $199,786,000 after acquiring an additional 62,491,033 shares during the period. Vanguard Group Inc. grew its stake in shares of Aurora Innovation by 5.9% in the 4th quarter. Vanguard Group Inc. now owns 83,516,588 shares of the company’s stock worth $364,967,000 after buying an additional 4,625,559 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Aurora Innovation by 0.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 59,824,382 shares of the company’s stock worth $261,433,000 after buying an additional 158,114 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of Aurora Innovation by 125.3% in the 3rd quarter. Baillie Gifford & Co. now owns 33,634,164 shares of the company’s stock worth $79,040,000 after buying an additional 18,703,703 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of Aurora Innovation by 311.4% in the 2nd quarter. BlackRock Inc. now owns 24,759,996 shares of the company’s stock worth $72,794,000 after buying an additional 18,740,928 shares in the last quarter. Hedge funds and other institutional investors 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.