Serve Robotics Inc. $SERV Shares Bought by DNB Asset Management AS

DNB Asset Management AS grew its position in shares of Serve Robotics Inc. (NASDAQ:SERV) by 178.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 239,205 shares of the company’s stock after acquiring an additional 153,436 shares during the period. DNB Asset Management AS’s holdings in Serve Robotics were worth $2,483,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Creative Planning increased its stake in Serve Robotics by 14.5% during the third quarter. Creative Planning now owns 14,800 shares of the company’s stock worth $172,000 after acquiring an additional 1,877 shares during the last quarter. Thoroughbred Financial Services LLC increased its stake in Serve Robotics by 9.0% during the third quarter. Thoroughbred Financial Services LLC now owns 24,250 shares of the company’s stock worth $282,000 after acquiring an additional 2,000 shares during the last quarter. Phoenix Financial Ltd. increased its stake in Serve Robotics by 13.3% during the third quarter. Phoenix Financial Ltd. now owns 17,000 shares of the company’s stock worth $198,000 after acquiring an additional 2,000 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in Serve Robotics by 166.8% during the third quarter. SBI Securities Co. Ltd. now owns 4,218 shares of the company’s stock worth $49,000 after acquiring an additional 2,637 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in Serve Robotics by 19.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 16,350 shares of the company’s stock worth $170,000 after acquiring an additional 2,650 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SERV shares. LADENBURG THALM/SH SH upped their price target on Serve Robotics from $15.00 to $16.60 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Cantor Fitzgerald dropped their price target on Serve Robotics from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Tuesday, March 17th. Guggenheim began coverage on Serve Robotics in a research note on Monday, April 20th. They set a “buy” rating and a $13.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Serve Robotics in a research note on Friday, March 27th. Finally, Freedom Capital lowered Serve Robotics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Serve Robotics presently has an average rating of “Moderate Buy” and an average price target of $17.51.

Insiders Place Their Bets

In related news, CFO Brian Read sold 2,790 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $9.29, for a total value of $25,919.10. Following the completion of the transaction, the chief financial officer owned 318,768 shares of the company’s stock, valued at approximately $2,961,354.72. This represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ali Kashani sold 14,644 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $9.26, for a total value of $135,603.44. Following the completion of the transaction, the chief executive officer directly owned 3,293,976 shares of the company’s stock, valued at $30,502,217.76. This represents a 0.44% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 83,438 shares of company stock worth $772,667. Company insiders own 5.00% of the company’s stock.

Serve Robotics Stock Performance

SERV stock opened at $8.38 on Thursday. Serve Robotics Inc. has a 1 year low of $7.66 and a 1 year high of $18.64. The firm has a market cap of $648.36 million, a P/E ratio of -4.17 and a beta of 0.96. The stock has a 50-day simple moving average of $9.00 and a 200-day simple moving average of $10.35.

Serve Robotics (NASDAQ:SERV) last posted its earnings results on Thursday, May 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.08). Serve Robotics had a negative net margin of 2,639.98% and a negative return on equity of 47.31%. The company had revenue of $2.98 million during the quarter, compared to analyst estimates of $2.83 million. On average, equities research analysts predict that Serve Robotics Inc. will post -2.58 EPS for the current year.

About Serve Robotics

Serve Robotics develops and operates autonomous sidewalk delivery robots designed to transform last-mile logistics for restaurants, retailers and grocery brands. By combining proprietary hardware, sensor suites and dispatch software, the company enables on-demand deliveries of food, beverages and consumer goods while minimizing reliance on traditional vehicle fleets.

The core Serve robot integrates four-wheeled mobility, LiDAR and vision cameras with AI-driven navigation algorithms to detect obstacles, traverse urban sidewalks and interact safely with pedestrians.