Insider Selling: Serve Robotics (NASDAQ:SERV) CFO Sells 1,179 Shares of Stock

Serve Robotics Inc. (NASDAQ:SERV) CFO Brian Read sold 1,179 shares of Serve Robotics stock in a transaction on Friday, May 1st. The stock was sold at an average price of $9.29, for a total transaction of $10,952.91. Following the completion of the transaction, the chief financial officer directly owned 321,558 shares in the company, valued at $2,987,273.82. This represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, April 8th, Brian Read sold 200 shares of Serve Robotics stock. The stock was sold at an average price of $8.62, for a total value of $1,724.00.
• On Tuesday, March 10th, Brian Read sold 203 shares of Serve Robotics stock. The stock was sold at an average price of $9.72, for a total value of $1,973.16.
• On Tuesday, March 3rd, Brian Read sold 1,268 shares of Serve Robotics stock. The stock was sold at an average price of $9.61, for a total value of $12,185.48.
• On Wednesday, February 11th, Brian Read sold 185 shares of Serve Robotics stock. The stock was sold at an average price of $10.17, for a total value of $1,881.45.
• On Wednesday, February 4th, Brian Read sold 3,185 shares of Serve Robotics stock. The stock was sold at an average price of $10.33, for a total value of $32,901.05.
• 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.

Serve Robotics Trading Down 0.5%

Shares of SERV stock traded down $0.05 during trading hours on Monday, reaching $9.35. 2,698,423 shares of the company’s stock were exchanged, compared to its average volume of 4,903,493. Serve Robotics Inc. has a fifty-two week low of $5.87 and a fifty-two week high of $18.64. The company has a market cap of $722.94 million, a price-to-earnings ratio of -5.88 and a beta of 0.96. The stock’s 50 day moving average is $9.26 and its 200-day moving average is $10.82.

Serve Robotics (NASDAQ:SERV) last posted its quarterly earnings data on Thursday, March 12th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $0.88 million for the quarter, compared to the consensus estimate of $0.77 million. Equities analysts anticipate that Serve Robotics Inc. will post -2.39 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SERV shares. Guggenheim started coverage on shares of Serve Robotics in a report on Monday, April 20th. They set a “buy” rating and a $13.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Serve Robotics in a report on Friday, March 27th. Finally, Cantor Fitzgerald cut their price objective on shares of Serve Robotics from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Tuesday, March 17th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Serve Robotics currently has a consensus rating of “Buy” and a consensus target price of $17.67.

Institutional Investors Weigh In On Serve Robotics

A number of large investors have recently bought and sold shares of SERV. Farther Finance Advisors LLC purchased a new stake in Serve Robotics in the third quarter valued at approximately $27,000. Gordian Capital Singapore Pte Ltd purchased a new stake in Serve Robotics in the fourth quarter valued at approximately $31,000. Quadrant Capital Group LLC purchased a new stake in Serve Robotics in the fourth quarter valued at approximately $31,000. EverSource Wealth Advisors LLC boosted its position in Serve Robotics by 299.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company’s stock valued at $33,000 after buying an additional 2,392 shares during the last quarter. Finally, CWM LLC boosted its position in Serve Robotics by 514.1% in the fourth quarter. CWM LLC now owns 3,439 shares of the company’s stock valued at $36,000 after buying an additional 2,879 shares during the last quarter.

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.