Brian Read Sells 3,185 Shares of Serve Robotics (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) CFO Brian Read sold 3,185 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $10.33, for a total transaction of $32,901.05. Following the completion of the sale, the chief financial officer directly owned 325,856 shares in the company, valued at $3,366,092.48. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Tuesday, February 3rd, Brian Read sold 1,547 shares of Serve Robotics stock. The stock was sold at an average price of $10.83, for a total value of $16,754.01.
• On Thursday, January 8th, Brian Read sold 4,748 shares of Serve Robotics stock. The shares were sold at an average price of $15.81, for a total value of $75,065.88.
• On Wednesday, December 31st, Brian Read sold 1,863 shares of Serve Robotics stock. The shares were sold at an average price of $10.37, for a total transaction of $19,319.31.
• On Friday, December 12th, Brian Read sold 6,700 shares of Serve Robotics stock. The shares were sold at an average price of $13.15, for a total transaction of $88,105.00.
• On Thursday, December 11th, Brian Read sold 371 shares of Serve Robotics stock. The stock was sold at an average price of $11.87, for a total value of $4,403.77.
• On Thursday, December 4th, Brian Read sold 7,500 shares of Serve Robotics stock. The stock was sold at an average price of $13.05, for a total value of $97,875.00.
• On Tuesday, December 2nd, Brian Read sold 2,057 shares of Serve Robotics stock. The shares were sold at an average price of $9.82, for a total transaction of $20,199.74.

Serve Robotics Trading Down 9.5%

SERV stock traded down $0.97 during trading on Thursday, reaching $9.19. The stock had a trading volume of 5,272,043 shares, compared to its average volume of 7,876,584. The firm has a fifty day moving average price of $11.99 and a 200 day moving average price of $11.77. The company has a market capitalization of $684.50 million, a P/E ratio of -6.17 and a beta of 0.33. Serve Robotics Inc. has a 1-year low of $4.66 and a 1-year high of $23.10.

Serve Robotics (NASDAQ:SERV) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.17). The business had revenue of $0.69 million during the quarter, compared to analyst estimates of $0.69 million. Serve Robotics had a negative return on equity of 38.52% and a negative net margin of 4,121.58%. Sell-side analysts predict that Serve Robotics Inc. will post -0.98 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SERV. Oppenheimer initiated coverage on Serve Robotics in a report on Thursday, December 18th. They issued an “outperform” rating and a $20.00 price objective for the company. Northland Securities reiterated an “outperform” rating and issued a $26.00 price target on shares of Serve Robotics in a report on Friday, January 2nd. LADENBURG THALM/SH SH raised Serve Robotics to a “strong-buy” rating in a research report on Thursday, December 18th. Citigroup reaffirmed an “outperform” rating on shares of Serve Robotics in a report on Monday, October 13th. Finally, Loop Capital set a $16.00 target price on shares of Serve Robotics in a report on Wednesday, December 31st. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $18.80.

Hedge Funds Weigh In On Serve Robotics

Several hedge funds and other institutional investors have recently modified their holdings of SERV. Vanguard Group Inc. grew its position in shares of 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 acquiring an additional 521,945 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Serve Robotics by 12.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,247,559 shares of the company’s stock valued at $12,950,000 after purchasing an additional 138,558 shares during the period. Geode Capital Management LLC grew its position in Serve Robotics by 176.0% in the 2nd quarter. Geode Capital Management LLC now owns 878,668 shares of the company’s stock worth $10,054,000 after purchasing an additional 560,361 shares during the last quarter. First Trust Advisors LP acquired a new stake in shares of Serve Robotics in the third quarter valued at approximately $8,840,000. Finally, Legal & General Group Plc raised its holdings in shares of Serve Robotics by 8.3% during the third quarter. Legal & General Group Plc now owns 751,834 shares of the company’s stock valued at $8,816,000 after buying an additional 57,905 shares during the last quarter.

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.