Serve Robotics (NASDAQ:SERV) CEO Sells $205,920.48 in Stock

Serve Robotics Inc. (NASDAQ:SERV) 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 transaction of $205,920.48. Following the transaction, the chief executive officer owned 3,232,933 shares in the company, valued at approximately $14,742,174.48. This trade represents a 1.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, June 10th, Ali Kashani sold 15,885 shares of Serve Robotics stock. The shares were sold at an average price of $7.24, for a total transaction of $115,007.40.

Serve Robotics Trading Up 5.1%

SERV stock opened at $4.98 on Friday. The firm has a market cap of $431.82 million, a PE ratio of -2.03 and a beta of 1.34. Serve Robotics Inc. has a 1 year low of $4.32 and a 1 year high of $18.64. The company has a fifty day simple moving average of $5.63 and a 200 day simple moving average of $7.90.

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

Hedge Funds Weigh In On Serve Robotics

A number of institutional investors have recently made changes to their positions in SERV. Legal & General Group Plc bought a new stake in Serve Robotics during the 2nd quarter valued at approximately $8,410,000. BlackRock Inc. increased its position in Serve Robotics by 24.5% in the 2nd quarter. BlackRock Inc. now owns 6,040,854 shares of the company’s stock worth $39,749,000 after buying an additional 1,190,622 shares during the period. First Trust Advisors LP acquired a new position in shares of Serve Robotics during the third quarter worth approximately $8,840,000. Vanguard Group Inc. lifted its holdings in shares of Serve Robotics by 25.2% during 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. Finally, Creek Drive Management Group LLC bought a new stake in shares of Serve Robotics in the fourth quarter valued at approximately $4,912,000.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SERV shares. Freedom Capital raised Serve Robotics from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 14th. Guggenheim decreased 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. LADENBURG THALM/SH SH increased their price target on Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a report on Wednesday, May 13th. Cantor Fitzgerald lowered shares of Serve Robotics from an “overweight” rating to a “neutral” rating in a research report on Friday, August 7th. Finally, Oppenheimer reduced their price objective on shares of Serve Robotics from $20.00 to $7.00 and set an “outperform” rating for the company in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.80.

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.