Serve Robotics (NASDAQ:SERV) CFO Sells $10,831.04 in Stock

Serve Robotics Inc. (NASDAQ:SERV) CFO Brian Read sold 1,496 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $7.24, for a total transaction of $10,831.04. Following the sale, the chief financial officer owned 317,071 shares of the company’s stock, valued at approximately $2,295,594.04. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Brian Read also recently made the following trade(s):

• On Thursday, May 7th, Brian Read sold 201 shares of Serve Robotics stock. The stock was sold at an average price of $9.26, for a total transaction of $1,861.26.
• On Wednesday, May 6th, Brian Read sold 2,790 shares of Serve Robotics stock. The stock was sold at an average price of $9.29, for a total transaction of $25,919.10.
• On Friday, May 1st, Brian Read sold 1,179 shares of Serve Robotics stock. The stock was sold at an average price of $9.29, for a total transaction of $10,952.91.
• On Wednesday, April 8th, Brian Read sold 200 shares of Serve Robotics stock. The shares were sold at an average price of $8.62, for a total transaction of $1,724.00.

Serve Robotics Trading Down 6.3%

Shares of SERV stock opened at $6.97 on Friday. The company has a market capitalization of $539.29 million, a PE ratio of -3.47 and a beta of 0.53. The firm has a fifty day simple moving average of $8.72 and a 200-day simple moving average of $10.11. Serve Robotics Inc. has a twelve month low of $6.84 and a twelve month high of $18.64.

Serve Robotics (NASDAQ:SERV) last announced its 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). The firm had revenue of $2.98 million during the quarter, compared to analysts’ expectations of $2.83 million. Serve Robotics had a negative net margin of 2,639.98% and a negative return on equity of 47.31%. Equities research analysts predict that Serve Robotics Inc. will post -2.64 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SERV. Weiss Ratings downgraded shares of Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. LADENBURG THALM/SH SH upped their target price on shares of Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Guggenheim began coverage on shares of Serve Robotics in a research note on Monday, April 20th. They issued a “buy” rating and a $13.00 target price for the company. Cantor Fitzgerald decreased 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 note on Tuesday, March 17th. Finally, Freedom Capital downgraded shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Serve Robotics presently has an average rating of “Moderate Buy” and an average target price of $17.51.

Institutional Trading of Serve Robotics

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Serve Robotics by 25.2% in the third quarter. Vanguard Group Inc. now owns 2,594,869 shares of the company’s stock valued at $30,178,000 after acquiring an additional 521,945 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 period. Exchange Traded Concepts LLC raised its holdings in shares of Serve Robotics by 12.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,247,559 shares of the company’s stock worth $12,950,000 after purchasing an additional 138,558 shares during the period. State Street Corp raised its holdings in shares of Serve Robotics by 29.5% during the fourth quarter. State Street Corp now owns 1,245,411 shares of the company’s stock worth $12,927,000 after purchasing an additional 283,497 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Serve Robotics by 34.5% during the fourth quarter. First Trust Advisors LP now owns 1,022,459 shares of the company’s stock worth $10,613,000 after purchasing an additional 262,348 shares during the period.

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.