Insider Selling: Serve Robotics (NASDAQ:SERV) Insider Sells 3,567 Shares of Stock

Serve Robotics Inc. (NASDAQ:SERV) insider Anthony Armenta sold 3,567 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $9.82, for a total transaction of $35,027.94. Following the sale, the insider owned 540,919 shares of the company’s stock, valued at $5,311,824.58. This trade represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Anthony Armenta also recently made the following trade(s):

• On Friday, February 13th, Anthony Armenta sold 3,432 shares of Serve Robotics stock. The stock was sold at an average price of $9.38, for a total value of $32,192.16.
• On Wednesday, February 4th, Anthony Armenta sold 3,223 shares of Serve Robotics stock. The stock was sold at an average price of $10.33, for a total value of $33,293.59.
• On Tuesday, January 13th, Anthony Armenta sold 3,893 shares of Serve Robotics stock. The shares were sold at an average price of $14.27, for a total value of $55,553.11.

Serve Robotics Trading Up 8.0%

SERV traded up $0.73 during midday trading on Monday, reaching $9.85. The company’s stock had a trading volume of 5,934,471 shares, compared to its average volume of 5,987,044. The stock has a market cap of $745.55 million, a P/E ratio of -6.19 and a beta of 0.92. The company has a fifty day simple moving average of $11.28 and a 200 day simple moving average of $11.65. Serve Robotics Inc. has a twelve month low of $4.66 and a twelve month high of $18.64.

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on SERV. Cantor Fitzgerald restated an “overweight” rating on shares of Serve Robotics in a research report on Monday, November 17th. Loop Capital set a $16.00 target price on shares of Serve Robotics in a research note on Wednesday, December 31st. Northland Securities restated an “outperform” rating and set a $26.00 price target on shares of Serve Robotics in a research note on Friday, January 2nd. Freedom Capital raised Serve Robotics to a “strong-buy” rating in a report on Wednesday, December 31st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Serve Robotics in a report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $18.80.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Serve Robotics by 527.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 52,874 shares of the company’s stock worth $549,000 after acquiring an additional 44,442 shares in the last quarter. Walser Wealth Management Company A Ltd Liability Co acquired a new stake in Serve Robotics during the 4th quarter valued at $115,000. Invesco Ltd. raised its position in Serve Robotics by 43.1% in the 4th quarter. Invesco Ltd. now owns 35,433 shares of the company’s stock valued at $368,000 after purchasing an additional 10,678 shares during the last quarter. Creek Drive Management Group LLC bought a new position in Serve Robotics in the 4th quarter valued at $4,912,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Serve Robotics in the fourth quarter worth $106,000.

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.