Serve Robotics Inc. (NASDAQ:SERV) CFO Brian Read Sells 1,000 Shares

Serve Robotics Inc. (NASDAQ:SERV) CFO Brian Read sold 1,000 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $11.52, for a total transaction of $11,520.00. Following the sale, the chief financial officer now directly owns 224,000 shares in the company, valued at $2,580,480. This trade represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, May 13th, Brian Read sold 8,900 shares of Serve Robotics stock. The stock was sold at an average price of $8.95, for a total transaction of $79,655.00.
• On Friday, May 9th, Brian Read sold 7,000 shares of Serve Robotics stock. The stock was sold at an average price of $8.03, for a total transaction of $56,210.00.
• On Friday, May 2nd, Brian Read sold 29,100 shares of Serve Robotics stock. The stock was sold at an average price of $7.06, for a total transaction of $205,446.00.

Serve Robotics Stock Down 2.5%

SERV stock opened at $11.34 on Friday. Serve Robotics Inc. has a fifty-two week low of $1.82 and a fifty-two week high of $24.35. The firm’s 50-day simple moving average is $6.90 and its 200 day simple moving average is $10.90. The stock has a market cap of $646.46 million and a PE ratio of -10.70.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Northland Securities set a $23.00 target price on shares of Serve Robotics in a report on Tuesday, February 18th. Cantor Fitzgerald assumed coverage on shares of Serve Robotics in a report on Thursday. They issued an “overweight” rating on the stock. Three investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Strong Buy” and a consensus price target of $18.67.

Institutional Trading of Serve Robotics

A number of large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its holdings in shares of Serve Robotics by 280.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 297,138 shares of the company’s stock worth $1,709,000 after acquiring an additional 219,018 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Serve Robotics by 616.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 679,014 shares of the company’s stock valued at $3,972,000 after buying an additional 584,302 shares in the last quarter. Bosun Asset Management LLC bought a new position in Serve Robotics in the 1st quarter valued at about $129,000. Cubist Systematic Strategies LLC bought a new position in Serve Robotics in the 1st quarter valued at about $2,064,000. Finally, PEAK6 LLC grew its position in Serve Robotics by 377.7% in the 1st quarter. PEAK6 LLC now owns 15,314 shares of the company’s stock valued at $88,000 after buying an additional 20,829 shares in the last quarter.

Serve Robotics Company Profile

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.