Touraj Parang Sells 3,861 Shares of Serve Robotics (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang sold 3,861 shares of the business’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $8.62, for a total value of $33,281.82. Following the sale, the chief operating officer directly owned 1,312,344 shares of the company’s stock, valued at $11,312,405.28. This represents a 0.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Touraj Parang also recently made the following trade(s):

• On Tuesday, March 10th, Touraj Parang sold 3,922 shares of Serve Robotics stock. The shares were sold at an average price of $9.72, for a total value of $38,121.84.
• On Wednesday, February 11th, Touraj Parang sold 3,558 shares of Serve Robotics stock. The shares were sold at an average price of $10.17, for a total value of $36,184.86.
• On Wednesday, February 4th, Touraj Parang sold 5,998 shares of Serve Robotics stock. The shares were sold at an average price of $10.33, for a total value of $61,959.34.

Serve Robotics Stock Performance

Shares of Serve Robotics stock traded down $0.29 during trading hours on Thursday, hitting $8.08. The company’s stock had a trading volume of 2,993,272 shares, compared to its average volume of 5,353,090. The business has a 50 day moving average price of $9.51 and a two-hundred day moving average price of $11.33. Serve Robotics Inc. has a 12-month low of $4.95 and a 12-month high of $18.64. The company has a market cap of $611.58 million, a PE ratio of -5.08 and a beta of 2.26.

Serve Robotics (NASDAQ:SERV) last announced its quarterly earnings data on Wednesday, March 11th. The company reported ($0.46) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.03. Serve Robotics had a negative return on equity of 38.54% and a negative net margin of 3,821.98%.The business had revenue of $0.88 million for the quarter, compared to the consensus estimate of $0.77 million. As a group, research analysts anticipate that Serve Robotics Inc. will post -0.98 earnings per share for the current year.

Institutional Investors Weigh In On Serve Robotics

A number of hedge funds have recently made changes to their positions in SERV. First Trust Advisors LP purchased a new stake in shares of Serve Robotics in the third quarter worth about $8,840,000. Vanguard Group Inc. lifted its position in shares of Serve Robotics by 25.2% in the third quarter. Vanguard Group Inc. now owns 2,594,869 shares of the company’s stock worth $30,178,000 after buying an additional 521,945 shares in the last quarter. Creek Drive Management Group LLC purchased a new stake in Serve Robotics during the fourth quarter valued at approximately $4,912,000. Geode Capital Management LLC raised 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 valued at $15,137,000 after purchasing an additional 328,405 shares during the period. Finally, State Street Corp raised its position in Serve Robotics by 29.5% during the fourth quarter. State Street Corp now owns 1,245,411 shares of the company’s stock valued at $12,927,000 after purchasing an additional 283,497 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SERV shares. Loop Capital set a $16.00 target price on Serve Robotics in a research report on Wednesday, December 31st. Northland Securities reiterated an “outperform” rating and issued a $26.00 target price on shares of Serve Robotics in a research report on Friday, January 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Serve Robotics in a research report on Friday, March 27th. Oppenheimer started coverage on Serve Robotics in a research report on Thursday, December 18th. They issued an “outperform” rating and a $20.00 target price on the stock. Finally, Cantor Fitzgerald decreased their target price on Serve Robotics from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 17th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $18.60.

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.