Cantor Fitzgerald Initiates Coverage on Aurora Innovation (NASDAQ:AUR)

Investment analysts at Cantor Fitzgerald started coverage on shares of Aurora Innovation (NASDAQ:AUR) in a report released on Tuesday, Marketbeat Ratings reports. The firm set an “overweight” rating and a $10.00 price target on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 35.69% from the company’s previous close.

A number of other research firms also recently commented on AUR. Canaccord Genuity Group restated a “buy” rating and set a $7.00 price objective on shares of Aurora Innovation in a report on Monday, September 30th. Evercore ISI raised their price objective on Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a report on Monday, October 14th. Wolfe Research initiated coverage on shares of Aurora Innovation in a research report on Tuesday, November 26th. They set a “peer perform” rating for the company. The Goldman Sachs Group boosted their price objective on shares of Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a research note on Monday, November 4th. Finally, TD Cowen raised their target price on shares of Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.70.

Aurora Innovation Stock Performance

AUR opened at $7.37 on Tuesday. Aurora Innovation has a 1 year low of $2.10 and a 1 year high of $8.05. The company’s 50 day simple moving average is $6.07 and its 200 day simple moving average is $4.54. The stock has a market capitalization of $12.66 billion, a PE ratio of -15.04 and a beta of 2.86.

Insiders Place Their Bets

In other news, Director Gloria R. Boyland sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $6.30, for a total transaction of $189,000.00. Following the completion of the sale, the director now owns 344,647 shares of the company’s stock, valued at approximately $2,171,276.10. This trade represents a 8.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Reid Hoffman sold 3,500,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $5.58, for a total transaction of $19,530,000.00. Following the completion of the sale, the director now directly owns 382,425 shares in the company, valued at $2,133,931.50. This represents a 90.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,776,667 shares of company stock worth $48,432,337 in the last 90 days. 13.83% of the stock is owned by company insiders.

Institutional Trading of Aurora Innovation

Hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. bought a new position in shares of Aurora Innovation during the third quarter valued at approximately $72,000. Virtu Financial LLC bought a new stake in shares of Aurora Innovation during the third quarter valued at about $337,000. Geode Capital Management LLC lifted its holdings in Aurora Innovation by 15.5% in the third quarter. Geode Capital Management LLC now owns 22,796,526 shares of the company’s stock worth $134,981,000 after purchasing an additional 3,064,342 shares during the period. Abel Hall LLC bought a new position in Aurora Innovation in the 3rd quarter valued at about $88,000. Finally, Barclays PLC raised its position in shares of Aurora Innovation by 431.9% during the 3rd quarter. Barclays PLC now owns 1,709,749 shares of the company’s stock worth $10,122,000 after buying an additional 1,388,307 shares in the last quarter. 44.71% of the stock is 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.