130,597 Shares in Serve Robotics Inc. $SERV Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Serve Robotics Inc. (NASDAQ:SERV) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 130,597 shares of the company’s stock, valued at approximately $859,000.

A number of other hedge funds also recently bought and sold shares of SERV. Goldman Sachs Group Inc. grew its stake in shares of Serve Robotics by 280.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 297,138 shares of the company’s stock worth $1,709,000 after buying an additional 219,018 shares in the last quarter. Creative Planning raised its position in shares of Serve Robotics by 25.9% during the 2nd quarter. Creative Planning now owns 12,923 shares of the company’s stock valued at $148,000 after buying an additional 2,655 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Serve Robotics by 294.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 29,905 shares of the company’s stock valued at $342,000 after buying an additional 22,320 shares in the last quarter. Rhumbline Advisers bought a new position in shares of Serve Robotics in the 2nd quarter valued at about $767,000. Finally, American Century Companies Inc. bought a new position in shares of Serve Robotics in the 2nd quarter valued at about $122,000.

Serve Robotics Price Performance

Shares of NASDAQ SERV opened at $4.98 on Friday. Serve Robotics Inc. has a 1 year low of $4.32 and a 1 year high of $18.64. The firm has a 50-day simple moving average of $5.63 and a two-hundred day simple moving average of $7.90. The company has a market cap of $431.82 million, a P/E ratio of -2.03 and a beta of 1.34.

Serve Robotics (NASDAQ:SERV) last released its earnings results on Thursday, August 6th. The company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.11). Serve Robotics had a negative net margin of 2,315.80% and a negative return on equity of 55.34%. The business had revenue of $3.24 million for the quarter, compared to the consensus estimate of $3.51 million. As a group, equities research analysts expect that Serve Robotics Inc. will post -2.71 EPS for the current year.

Wall Street Analysts Forecast Growth

SERV has been the subject of several recent research reports. Freedom Capital upgraded Serve Robotics from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 14th. LADENBURG THALM/SH SH upped their price objective on Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Cantor Fitzgerald lowered Serve Robotics from an “overweight” rating to a “neutral” rating in a research note on Friday, August 7th. Guggenheim dropped their target price on Serve Robotics from $13.00 to $7.00 and set a “buy” rating for the company in a report on Monday, August 10th. Finally, Oppenheimer cut their target price on Serve Robotics from $20.00 to $7.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.80.

Insiders Place Their Bets

In other Serve Robotics news, CEO Ali Kashani sold 45,158 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $4.56, for a total value of $205,920.48. Following the sale, the chief executive officer owned 3,232,933 shares in the company, valued at $14,742,174.48. This trade represents a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Brian Read sold 25,240 shares of Serve Robotics stock in a transaction on Monday, August 17th. The stock was sold at an average price of $5.24, for a total value of $132,257.60. Following the sale, the chief financial officer owned 291,831 shares of the company’s stock, valued at approximately $1,529,194.44. This trade represents a 7.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 156,420 shares of company stock worth $818,258 in the last 90 days. 5.00% of the stock is owned by insiders.

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.