Serve Robotics (NASDAQ:SERV) CFO Brian Read Sells 1,179 Shares of Stock

Serve Robotics Inc. (NASDAQ:SERV) CFO Brian Read sold 1,179 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $9.29, for a total value of $10,952.91. Following the completion of the sale, the chief financial officer directly owned 321,558 shares in the company, valued at approximately $2,987,273.82. This represents a 0.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 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 value of $1,724.00.
• On Tuesday, March 10th, Brian Read sold 203 shares of Serve Robotics stock. The shares were sold at an average price of $9.72, for a total value of $1,973.16.
• On Tuesday, March 3rd, Brian Read sold 1,268 shares of Serve Robotics stock. The shares were sold at an average price of $9.61, for a total value of $12,185.48.
• On Wednesday, February 11th, Brian Read sold 185 shares of Serve Robotics stock. The shares were sold at an average price of $10.17, for a total value of $1,881.45.
• On Wednesday, February 4th, Brian Read sold 3,185 shares of Serve Robotics stock. The shares were sold at an average price of $10.33, for a total value of $32,901.05.
• On Tuesday, February 3rd, Brian Read sold 1,547 shares of Serve Robotics stock. The shares were sold at an average price of $10.83, for a total value of $16,754.01.

Serve Robotics Price Performance

Shares of SERV stock opened at $9.35 on Tuesday. The stock’s fifty day simple moving average is $9.26 and its 200 day simple moving average is $10.82. The firm has a market cap of $722.99 million, a price-to-earnings ratio of -5.88 and a beta of 0.96. Serve Robotics Inc. has a one year low of $5.87 and a one year high of $18.64.

Serve Robotics (NASDAQ:SERV) last announced its quarterly earnings results on Thursday, March 12th. 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 analyst estimates of $0.77 million. On average, research analysts anticipate that Serve Robotics Inc. will post -2.39 earnings per share for the current year.

Institutional Investors Weigh In On Serve Robotics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. First Trust Advisors LP bought a new stake in Serve Robotics in the third quarter valued at about $8,840,000. Vanguard Group Inc. increased 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 purchasing an additional 521,945 shares during the last quarter. Creek Drive Management Group LLC bought a new stake in Serve Robotics in the fourth quarter valued at about $4,912,000. Geode Capital Management LLC increased its holdings in Serve Robotics by 29.1% in 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 last quarter. Finally, Grange Capital LLC bought a new stake in Serve Robotics in the first quarter valued at about $2,426,000.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Serve Robotics in a research report on Friday, March 27th. Guggenheim assumed coverage on Serve Robotics in a research report on Monday, April 20th. They issued a “buy” rating and a $13.00 price objective for the company. Finally, Cantor Fitzgerald cut their price objective on Serve Robotics from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Tuesday, March 17th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $17.67.

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.