Jupiter Asset Management Ltd. Purchases Shares of 137,477 Serve Robotics Inc. $SERV

Jupiter Asset Management Ltd. purchased a new stake in shares of Serve Robotics Inc. (NASDAQ:SERV) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 137,477 shares of the company’s stock, valued at approximately $1,427,000.

Other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in shares of Serve Robotics by 299.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company’s stock valued at $33,000 after buying an additional 2,392 shares during the last quarter. CWM LLC lifted its position in shares of Serve Robotics by 514.1% during the fourth quarter. CWM LLC now owns 3,439 shares of the company’s stock valued at $36,000 after buying an additional 2,879 shares during the last quarter. Harbour Investments Inc. lifted its position in shares of Serve Robotics by 149.3% during the fourth quarter. Harbour Investments Inc. now owns 3,740 shares of the company’s stock valued at $39,000 after buying an additional 2,240 shares during the last quarter. SBI Securities Co. Ltd. raised its position in shares of Serve Robotics by 166.8% in the 3rd quarter. SBI Securities Co. Ltd. now owns 4,218 shares of the company’s stock valued at $49,000 after purchasing an additional 2,637 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of Serve Robotics in the 3rd quarter valued at approximately $59,000.

Insider Buying and Selling at Serve Robotics

In related news, CEO Ali Kashani sold 14,644 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $9.26, for a total value of $135,603.44. Following the transaction, the chief executive officer owned 3,293,976 shares in the company, valued at approximately $30,502,217.76. This represents a 0.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Anthony Armenta sold 3,567 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $9.82, for a total transaction of $35,027.94. Following the completion of the transaction, the insider owned 540,919 shares in the company, valued at approximately $5,311,824.58. This trade represents a 0.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 83,438 shares of company stock worth $772,667 in the last 90 days. Corporate insiders own 5.00% of the company’s stock.

Serve Robotics Trading Down 1.5%

Shares of NASDAQ:SERV opened at $9.35 on Friday. Serve Robotics Inc. has a twelve month low of $7.66 and a twelve month high of $18.64. The company’s 50 day moving average is $8.90 and its 200 day moving average is $10.22. The company has a market cap of $723.41 million, a PE ratio of -4.65 and a beta of 0.96.

Serve Robotics (NASDAQ:SERV) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.08). Serve Robotics had a negative return on equity of 47.31% and a negative net margin of 2,639.98%.The business had revenue of $2.98 million during the quarter, compared to analyst estimates of $2.83 million. Equities research analysts predict that Serve Robotics Inc. will post -2.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SERV shares. Freedom Capital lowered shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. LADENBURG THALM/SH SH increased their price objective on shares of Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Guggenheim started coverage on shares of Serve Robotics in a research report on Monday, April 20th. They issued a “buy” rating and a $13.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Serve Robotics in a research report on Friday, March 27th. Finally, Cantor Fitzgerald decreased their price objective on shares of Serve Robotics from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Tuesday, March 17th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.51.

Serve Robotics Profile

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.