Serve Robotics (NASDAQ:SERV) CEO Ali Kashani Sells 16,730 Shares

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 16,730 shares of Serve Robotics stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $11.87, for a total value of $198,585.10. Following the sale, the chief executive officer owned 3,374,862 shares of the company’s stock, valued at approximately $40,059,611.94. This represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ali Kashani also recently made the following trade(s):

• On Thursday, November 6th, Ali Kashani sold 16,170 shares of Serve Robotics stock. The shares were sold at an average price of $10.78, for a total value of $174,312.60.
• On Wednesday, November 5th, Ali Kashani sold 13,310 shares of Serve Robotics stock. The stock was sold at an average price of $11.63, for a total value of $154,795.30.
• On Tuesday, October 7th, Ali Kashani sold 12,930 shares of Serve Robotics stock. The shares were sold at an average price of $15.08, for a total transaction of $194,984.40.

Serve Robotics Stock Down 9.6%

SERV stock traded down $1.16 during trading hours on Monday, hitting $10.97. The company’s stock had a trading volume of 5,606,831 shares, compared to its average volume of 8,099,161. The stock has a 50 day moving average price of $12.33 and a two-hundred day moving average price of $11.56. Serve Robotics Inc. has a 12 month low of $4.66 and a 12 month high of $24.35. The company has a market capitalization of $817.08 million, a PE ratio of -7.36 and a beta of -0.14.

Serve Robotics (NASDAQ:SERV) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.54) earnings per share (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 net margin of 4,121.58% and a negative return on equity of 38.52%. Sell-side analysts expect that Serve Robotics Inc. will post -0.98 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SERV shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Serve Robotics in a research report on Monday, November 17th. Citigroup restated an “outperform” rating on shares of Serve Robotics in a report on Monday, October 13th. Northland Securities set a $26.00 target price on Serve Robotics in a research report on Monday, October 13th. Singular Research raised shares of Serve Robotics to a “moderate buy” rating in a research report on Tuesday, August 26th. Finally, Wedbush assumed coverage on shares of Serve Robotics in a report on Wednesday, August 27th. They set an “outperform” rating and a $15.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Serve Robotics presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.33.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SERV. Vontobel Holding Ltd. boosted its position in shares of Serve Robotics by 6.7% in the third quarter. Vontobel Holding Ltd. now owns 22,427 shares of the company’s stock valued at $261,000 after acquiring an additional 1,417 shares during the period. Charles Schwab Investment Management Inc. increased its position in Serve Robotics by 13.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 12,728 shares of the company’s stock worth $73,000 after acquiring an additional 1,545 shares during the period. Creative Planning raised its stake in Serve Robotics by 14.5% during the 3rd quarter. Creative Planning now owns 14,800 shares of the company’s stock valued at $172,000 after purchasing an additional 1,877 shares during the last quarter. Phoenix Financial Ltd. boosted its holdings in Serve Robotics by 13.3% in the 3rd quarter. Phoenix Financial Ltd. now owns 17,000 shares of the company’s stock valued at $198,000 after purchasing an additional 2,000 shares during the period. Finally, Thoroughbred Financial Services LLC grew its position in Serve Robotics by 9.0% in the 3rd quarter. Thoroughbred Financial Services LLC now owns 24,250 shares of the company’s stock worth $282,000 after purchasing an additional 2,000 shares during the last quarter.

About Serve Robotics

Serve Robotics Inc designs, develops, and operates low-emission robots that serve people in public spaces with food delivery in the United States. It builds self-driving delivery robots. The company was formerly known as Patricia Acquisition Corp. and changed its name to Serve Robotics Inc in July 2023.