Legal & General Group Plc Takes $8.41 Million Position in Serve Robotics Inc. $SERV

Legal & General Group Plc purchased a new position in Serve Robotics Inc. (NASDAQ:SERV) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,371,454 shares of the company’s stock, valued at approximately $8,410,000. Legal & General Group Plc owned 1.58% of Serve Robotics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of SERV. BlackRock Inc. raised its position in shares of Serve Robotics by 24.5% in the 2nd quarter. BlackRock Inc. now owns 6,040,854 shares of the company’s stock valued at $39,749,000 after buying an additional 1,190,622 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of Serve Robotics during the 3rd quarter worth approximately $8,840,000. Vanguard Group Inc. boosted its position in shares of Serve Robotics by 25.2% during the 3rd 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 in the last quarter. Creek Drive Management Group LLC bought a new position in Serve Robotics in the fourth quarter valued at approximately $4,912,000. Finally, Geode Capital Management LLC increased its stake 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 acquiring an additional 328,405 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SERV shares. Guggenheim cut their target price on Serve Robotics from $13.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, August 10th. LADENBURG THALM/SH SH lifted their price target on Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Freedom Capital raised Serve Robotics from a “hold” rating to a “strong-buy” rating in a report on Friday, August 14th. Oppenheimer dropped their price objective on Serve Robotics from $20.00 to $7.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. Finally, Cantor Fitzgerald lowered Serve Robotics from an “overweight” rating to a “neutral” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $14.77.

Serve Robotics Price Performance

SERV stock opened at $4.69 on Wednesday. The stock has a market cap of $406.67 million, a price-to-earnings ratio of -1.91 and a beta of 1.26. The company has a 50 day simple moving average of $5.35 and a 200 day simple moving average of $7.61. Serve Robotics Inc. has a 1 year low of $4.32 and a 1 year high of $18.64.

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

Insider Transactions at Serve Robotics

In other 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 completion of the transaction, the chief executive officer directly owned 3,232,933 shares in the company, valued at approximately $14,742,174.48. This represents a 1.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Touraj Parang sold 37,993 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $4.55, for a total value of $172,868.15. Following the sale, the chief operating officer directly owned 1,260,251 shares in the company, valued at approximately $5,734,142.05. This trade represents a 2.93% decrease in their position. 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 a total of 156,420 shares of company stock valued at $818,258 over the last quarter. 5.00% of the stock is currently 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.