Aurora Innovation (NASDAQ:AUR) PT Raised to $6.00 at Canaccord Genuity Group

Aurora Innovation (NASDAQ:AUR) had its target price hoisted by stock analysts at Canaccord Genuity Group from $5.50 to $6.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 145.90% from the company’s previous close.

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

Aurora Innovation Trading Up 8.9 %

Shares of NASDAQ:AUR traded up $0.20 during midday trading on Friday, hitting $2.44. 9,356,863 shares of the stock were exchanged, compared to its average volume of 6,364,979. The stock 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 company has a 50 day moving average price of $2.89 and a 200-day moving average price of $2.77.

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.

Insiders Place Their Bets

In other news, Director Reid Hoffman sold 1,000,000 shares of the company’s stock in a transaction on 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 transaction, the director now owns 463,563 shares of the company’s stock, valued at $1,168,178.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 18.81% of the company’s stock.

Institutional Investors Weigh In On Aurora Innovation

Several large investors have recently modified their holdings of AUR. Swiss National Bank boosted its position in Aurora Innovation by 53.7% during the third quarter. Swiss National Bank now owns 1,289,900 shares of the company’s stock valued at $3,031,000 after purchasing an additional 450,400 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new position in shares of Aurora Innovation during the third quarter worth approximately $1,812,000. Bank of New York Mellon Corp increased its stake in Aurora Innovation by 30.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,494,533 shares of the company’s stock worth $3,512,000 after acquiring an additional 350,267 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Aurora Innovation by 77.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,818,639 shares of the company’s stock worth $11,324,000 after acquiring an additional 2,107,152 shares during the period. Finally, Cowen AND Company LLC bought a new position in shares of Aurora Innovation in the 3rd quarter valued at $1,175,000. 42.34% of the stock is currently owned by 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.