130,597 Shares in Serve Robotics Inc. $SERV Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Serve Robotics Inc. (NASDAQ:SERV) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 130,597 shares of the company’s stock, valued at approximately $859,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.17% of Serve Robotics at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Main Management ETF Advisors LLC lifted its holdings in Serve Robotics by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 166,779 shares of the company’s stock valued at $1,731,000 after purchasing an additional 1,704 shares in the last quarter. Creative Planning lifted its stake in shares of 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 buying an additional 1,877 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Serve Robotics by 38.0% during the 4th quarter. Russell Investments Group Ltd. now owns 7,003 shares of the company’s stock valued at $73,000 after buying an additional 1,927 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Serve Robotics by 65.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,274 shares of the company’s stock worth $45,000 after buying an additional 2,082 shares during the period. Finally, Harbour Investments Inc. boosted its holdings in Serve Robotics by 149.3% in the 4th quarter. Harbour Investments Inc. now owns 3,740 shares of the company’s stock worth $39,000 after buying an additional 2,240 shares during the period.

Serve Robotics Stock Performance

Shares of NASDAQ:SERV opened at $4.98 on Friday. The firm has a fifty day moving average price of $5.63 and a 200 day moving average price of $7.90. Serve Robotics Inc. has a fifty-two week low of $4.32 and a fifty-two week high of $18.64. The firm has a market cap of $431.82 million, a price-to-earnings ratio of -2.03 and a beta of 1.34.

Serve Robotics (NASDAQ:SERV) last posted its earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.11). The company had revenue of $3.24 million for the quarter, compared to analysts’ expectations of $3.51 million. Serve Robotics had a negative net margin of 2,315.80% and a negative return on equity of 55.34%. As a group, research analysts predict that Serve Robotics Inc. will post -2.71 earnings per share for the current year.

Insider Activity at Serve Robotics

In other news, CFO Brian Read sold 25,240 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $5.24, for a total transaction of $132,257.60. Following the completion of the transaction, the chief financial officer owned 291,831 shares in the company, valued at $1,529,194.44. This trade represents a 7.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ali Kashani sold 45,158 shares of Serve Robotics stock in a transaction dated 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 sale, the chief executive officer directly owned 3,232,933 shares in the company, valued at $14,742,174.48. This trade represents a 1.38% decrease in their ownership of the stock. 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 sold 156,420 shares of company stock worth $818,258 over the last 90 days. Company insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SERV shares. Freedom Capital upgraded Serve Robotics from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 14th. Cantor Fitzgerald downgraded Serve Robotics from an “overweight” rating to a “neutral” rating in a research report on Friday, August 7th. Weiss Ratings raised Serve Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 21st. 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 report on Monday, August 10th. Finally, LADENBURG THALM/SH SH lifted their target price on Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.80.

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.