Ali Kashani Sells 15,885 Shares of Serve Robotics (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 15,885 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $7.24, for a total transaction of $115,007.40. Following the transaction, the chief executive officer owned 3,278,091 shares of the company’s stock, valued at $23,733,378.84. This represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ali Kashani also recently made the following trade(s):

• On Thursday, May 7th, Ali Kashani sold 14,644 shares of Serve Robotics stock. The stock was sold at an average price of $9.26, for a total transaction of $135,603.44.
• On Wednesday, May 6th, Ali Kashani sold 11,753 shares of Serve Robotics stock. The stock was sold at an average price of $9.29, for a total transaction of $109,185.37.
• On Wednesday, April 8th, Ali Kashani sold 14,541 shares of Serve Robotics stock. The stock was sold at an average price of $8.62, for a total transaction of $125,343.42.

Serve Robotics Trading Up 6.6%

NASDAQ:SERV traded up $0.46 during trading hours on Thursday, reaching $7.44. 5,832,098 shares of the company were exchanged, compared to its average volume of 5,089,571. The stock’s 50-day moving average is $8.77 and its 200-day moving average is $10.14. The firm has a market cap of $575.66 million, a PE ratio of -3.70 and a beta of 0.53. Serve Robotics Inc. has a twelve month low of $6.84 and a twelve month high of $18.64.

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

Institutional Investors Weigh In On Serve Robotics

Several hedge funds and other institutional investors have recently bought and sold shares of SERV. First Trust Advisors LP acquired a new stake in Serve Robotics during the third quarter worth about $8,840,000. Vanguard Group Inc. increased its position in Serve Robotics by 25.2% during the third quarter. Vanguard Group Inc. now owns 2,594,869 shares of the company’s stock worth $30,178,000 after purchasing an additional 521,945 shares during the last quarter. Creek Drive Management Group LLC acquired a new stake in Serve Robotics during the fourth quarter worth about $4,912,000. Geode Capital Management LLC increased its position in Serve Robotics by 29.1% during the fourth quarter. Geode Capital Management LLC now owns 1,457,965 shares of the company’s stock worth $15,137,000 after purchasing an additional 328,405 shares during the last quarter. Finally, Grange Capital LLC acquired a new stake in Serve Robotics during the first quarter worth about $2,426,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SERV shares. Cantor Fitzgerald reduced their target price 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. LADENBURG THALM/SH SH increased their target price 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. Weiss Ratings cut shares of Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Freedom Capital cut shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Finally, Guggenheim assumed coverage on shares of Serve Robotics in a research report on Monday, April 20th. They issued a “buy” rating and a $13.00 target price for the company. 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.51.

Serve Robotics Company 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.