Serve Robotics (NASDAQ:SERV) Insider Sells $19,872.00 in Stock

Serve Robotics Inc. (NASDAQ:SERV) insider Euan Abraham sold 1,840 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $10.80, for a total value of $19,872.00. Following the transaction, the insider owned 244,784 shares in the company, valued at $2,643,667.20. The trade was a 0.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Euan Abraham also recently made the following trade(s):

• On Wednesday, November 5th, Euan Abraham sold 3,915 shares of Serve Robotics stock. The shares were sold at an average price of $11.69, for a total transaction of $45,766.35.
• On Wednesday, October 15th, Euan Abraham sold 25,000 shares of Serve Robotics stock. The stock was sold at an average price of $17.99, for a total transaction of $449,750.00.
• On Tuesday, October 7th, Euan Abraham sold 1,480 shares of Serve Robotics stock. The stock was sold at an average price of $15.19, for a total transaction of $22,481.20.
• On Friday, September 19th, Euan Abraham sold 25,000 shares of Serve Robotics stock. The stock was sold at an average price of $14.99, for a total transaction of $374,750.00.
• On Thursday, September 18th, Euan Abraham sold 8,433 shares of Serve Robotics stock. The shares were sold at an average price of $12.38, for a total transaction of $104,400.54.
• On Monday, September 8th, Euan Abraham sold 12,603 shares of Serve Robotics stock. The shares were sold at an average price of $10.60, for a total value of $133,591.80.

Serve Robotics Price Performance

Shares of NASDAQ:SERV opened at $10.69 on Friday. The business’s 50 day simple moving average is $12.89 and its 200 day simple moving average is $11.16. Serve Robotics Inc. has a 1 year low of $4.66 and a 1 year high of $24.35. The company has a market capitalization of $640.14 million, a P/E ratio of -9.30 and a beta of -0.80.

Serve Robotics (NASDAQ:SERV) last released its earnings results on Thursday, August 7th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.13). Serve Robotics had a negative net margin of 3,726.00% and a negative return on equity of 36.47%. The company had revenue of $0.64 million for the quarter, compared to the consensus estimate of $0.63 million. On average, sell-side analysts anticipate that Serve Robotics Inc. will post -0.98 EPS for the current fiscal year.

Analysts Set New Price Targets

SERV has been the topic of a number of analyst reports. Singular Research upgraded shares of Serve Robotics to a “moderate buy” rating in a research note on Tuesday, August 26th. Wedbush assumed coverage on shares of Serve Robotics in a research note on Wednesday, August 27th. They issued an “outperform” rating and a $15.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Serve Robotics in a research note on Wednesday. Seaport Res Ptn lowered Serve Robotics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 11th. Finally, Citigroup reissued an “outperform” rating on shares of Serve Robotics in a report on Monday, October 13th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.33.

Institutional Investors Weigh In On Serve Robotics

Several hedge funds have recently modified their holdings of SERV. Vanguard Group Inc. boosted its stake 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 valued at $30,178,000 after purchasing an additional 521,945 shares in the last quarter. JPMorgan Chase & Co. increased its position in Serve Robotics by 28.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,422 shares of the company’s stock valued at $447,000 after purchasing an additional 8,517 shares during the period. Wedbush Securities Inc. acquired a new stake in shares of Serve Robotics during the third quarter worth $235,000. Wealthfront Advisers LLC bought a new position in shares of Serve Robotics in the 3rd quarter worth about $131,000. Finally, SBI Securities Co. Ltd. increased its holdings in Serve Robotics by 166.8% in the third quarter. SBI Securities Co. Ltd. now owns 4,218 shares of the company’s stock worth $49,000 after purchasing an additional 2,637 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.