Anthony Armenta Sells 3,567 Shares of Serve Robotics (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) insider Anthony Armenta sold 3,567 shares of the business’s stock in a transaction on 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 directly owned 540,919 shares in the company, valued at approximately $5,311,824.58. This trade represents a 0.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, February 13th, Anthony Armenta sold 3,432 shares of Serve Robotics stock. The shares were 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 shares were 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 stock was sold at an average price of $14.27, for a total value of $55,553.11.

Serve Robotics Stock Up 8.0%

Shares of SERV traded up $0.73 during trading hours 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 firm has a market cap of $745.55 million, a price-to-earnings ratio of -6.19 and a beta of 0.92. Serve Robotics Inc. has a 1-year low of $4.66 and a 1-year high of $18.64. The company has a 50 day moving average of $11.28 and a two-hundred day moving average of $11.65.

Serve Robotics (NASDAQ:SERV) last posted 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. Serve Robotics had a negative net margin of 3,821.98% and a negative return on equity of 38.54%. The business had revenue of $0.88 million during the quarter, compared to analysts’ expectations of $0.77 million. As a group, analysts forecast that Serve Robotics Inc. will post -0.98 EPS for the current fiscal year.

Institutional Trading of Serve Robotics

Large investors have recently made changes to their positions in the stock. First Trust Advisors LP bought a new stake in Serve Robotics during the third quarter worth approximately $8,840,000. Geode Capital Management LLC lifted its stake in shares of Serve Robotics by 176.0% in the second quarter. Geode Capital Management LLC now owns 878,668 shares of the company’s stock worth $10,054,000 after buying an additional 560,361 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Serve Robotics by 25.2% in the third quarter. Vanguard Group Inc. now owns 2,594,869 shares of the company’s stock worth $30,178,000 after buying an additional 521,945 shares during the last quarter. Creek Drive Management Group LLC bought a new stake in shares of Serve Robotics during the 4th quarter worth $4,912,000. Finally, State Street Corp grew its stake in Serve Robotics by 29.5% in the 4th quarter. State Street Corp now owns 1,245,411 shares of the company’s stock valued at $12,927,000 after buying an additional 283,497 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Serve Robotics in a research report on Monday, December 29th. Oppenheimer assumed coverage on Serve Robotics in a research report on Thursday, December 18th. They issued an “outperform” rating and a $20.00 target price on the stock. LADENBURG THALM/SH SH raised Serve Robotics to a “strong-buy” rating in a research note on Thursday, December 18th. Northland Securities reiterated an “outperform” rating and set a $26.00 price target on shares of Serve Robotics in a report on Friday, January 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Serve Robotics in a research note on Monday, November 17th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $18.80.

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.