Canaccord Genuity Group Increases Aurora Innovation (NASDAQ:AUR) Price Target to $6.00

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

Other equities research analysts also recently issued reports about the company. The Goldman Sachs Group downgraded Aurora Innovation from a neutral rating to a sell rating and upped their target price for the stock from $1.75 to $2.00 in a research report on Wednesday, January 3rd. TD Cowen cut their price objective on Aurora Innovation from $3.50 to $3.00 and set a market perform rating for the company in a research report on Friday.

Aurora Innovation Price Performance

Shares of NASDAQ AUR traded up $0.20 during midday trading on Friday, hitting $2.44. 9,356,863 shares of the company’s stock were exchanged, compared to its average volume of 6,364,979. The firm has a market cap of $3.75 billion, a P/E ratio of -4.00 and a beta of 2.90. Aurora Innovation has a twelve month low of $1.14 and a twelve month high of $4.81. The stock’s 50 day moving average price is $2.89 and its 200-day moving average price is $2.77.

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

Insider Transactions at Aurora Innovation

In other news, Director Reid Hoffman sold 1,000,000 shares of the company’s stock in a transaction on 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 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 18.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Aurora Innovation

Several hedge funds have recently bought and sold shares of AUR. Morgan Stanley increased its position in Aurora Innovation by 277.4% during the third quarter. Morgan Stanley now owns 85,015,346 shares of the company’s stock worth $199,786,000 after buying an additional 62,491,033 shares during the last quarter. Vanguard Group Inc. increased its position in Aurora Innovation by 73.2% during the third quarter. Vanguard Group Inc. now owns 78,891,029 shares of the company’s stock worth $185,394,000 after buying an additional 33,348,395 shares during the last quarter. FMR LLC boosted its holdings in Aurora Innovation by 823.6% during the third quarter. FMR LLC now owns 21,315,044 shares of the company’s stock valued at $50,090,000 after acquiring an additional 19,007,248 shares during the period. BlackRock Inc. lifted its position in shares of Aurora Innovation by 311.4% during the 2nd quarter. BlackRock Inc. now owns 24,759,996 shares of the company’s stock worth $72,794,000 after purchasing an additional 18,740,928 shares during the last quarter. Finally, Baillie Gifford & Co. increased its position in 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 during the period. 42.34% of the stock is owned by institutional investors and hedge funds.

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.