Aurora Innovation (NASDAQ:AUR) Given New $3.00 Price Target at TD Cowen

Aurora Innovation (NASDAQ:AUR) had its price target dropped by equities research analysts at TD Cowen from $3.50 to $3.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “market perform” rating on the stock. TD Cowen’s target price would suggest a potential upside of 22.95% from the company’s previous close.

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

Aurora Innovation Price Performance

AUR traded up $0.20 on Friday, hitting $2.44. The company had a trading volume of 9,356,863 shares, compared to its average volume of 6,364,979. The company’s fifty day moving average price is $2.89 and its 200 day moving average price is $2.77. Aurora Innovation has a 1-year low of $1.14 and a 1-year 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 posted its earnings results on Wednesday, February 14th. The company reported ($0.13) earnings per share for the quarter.

Insiders Place Their Bets

In other news, Director Reid Hoffman sold 592,249 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $2.77, for a total transaction of $1,640,529.73. Following the sale, the director now directly owns 648,563 shares in the company, valued at $1,796,519.51. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 18.81% of the company’s stock.

Institutional Trading of Aurora Innovation

A number of institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley increased its position in shares of Aurora Innovation by 277.4% during the third quarter. Morgan Stanley now owns 85,015,346 shares of the company’s stock valued at $199,786,000 after purchasing an additional 62,491,033 shares during the period. Vanguard Group Inc. grew its holdings in shares of Aurora Innovation by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 83,516,588 shares of the company’s stock worth $364,967,000 after purchasing an additional 4,625,559 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Aurora Innovation by 0.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 59,824,382 shares of the company’s stock valued at $261,433,000 after acquiring an additional 158,114 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in Aurora Innovation by 125.3% in the third quarter. Baillie Gifford & Co. now owns 33,634,164 shares of the company’s stock valued at $79,040,000 after acquiring an additional 18,703,703 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in Aurora Innovation by 311.4% in the second quarter. BlackRock Inc. now owns 24,759,996 shares of the company’s stock valued at $72,794,000 after acquiring an additional 18,740,928 shares during the last quarter. 42.34% of the stock is currently owned by institutional investors.

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.