Serve Robotics (NASDAQ:SERV) Insider Anthony Armenta Sells 3,223 Shares

Serve Robotics Inc. (NASDAQ:SERV) insider Anthony Armenta sold 3,223 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $10.33, for a total transaction of $33,293.59. Following the completion of the transaction, the insider owned 547,918 shares in the company, valued at approximately $5,659,992.94. This represents a 0.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Anthony Armenta also recently made the following trade(s):

• On Tuesday, January 13th, Anthony Armenta sold 3,893 shares of Serve Robotics stock. The shares were sold at an average price of $14.27, for a total transaction of $55,553.11.
• On Monday, December 15th, Anthony Armenta sold 5,003 shares of Serve Robotics stock. The stock was sold at an average price of $11.96, for a total value of $59,835.88.
• On Friday, November 14th, Anthony Armenta sold 49,082 shares of Serve Robotics stock. The shares were sold at an average price of $9.32, for a total value of $457,444.24.

Serve Robotics Trading Down 9.5%

Serve Robotics stock traded down $0.97 on Thursday, reaching $9.19. 5,272,043 shares of the stock were exchanged, compared to its average volume of 7,876,584. The firm has a fifty day moving average price of $11.99 and a two-hundred day moving average price of $11.77. The stock has a market cap of $684.50 million, a PE ratio of -6.17 and a beta of 0.33. Serve Robotics Inc. has a twelve month low of $4.66 and a twelve month high of $23.10.

Serve Robotics (NASDAQ:SERV) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.17). Serve Robotics had a negative net margin of 4,121.58% and a negative return on equity of 38.52%. The business had revenue of $0.69 million during the quarter, compared to the consensus estimate of $0.69 million. Equities analysts anticipate that Serve Robotics Inc. will post -0.98 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. LADENBURG THALM/SH SH raised shares of Serve Robotics to a “strong-buy” rating in a report on Thursday, December 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Serve Robotics in a report on Monday, December 29th. Oppenheimer initiated coverage on Serve Robotics in a report on Thursday, December 18th. They issued an “outperform” rating and a $20.00 target price for the company. Citigroup reaffirmed an “outperform” rating on shares of Serve Robotics in a research note on Monday, October 13th. Finally, Freedom Capital upgraded Serve Robotics to a “strong-buy” rating in a research note on Wednesday, December 31st. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Serve Robotics presently has a consensus rating of “Buy” and a consensus target price of $18.80.

Institutional Investors Weigh In On Serve Robotics

A number of hedge funds have recently added to or reduced their stakes in SERV. First Trust Advisors LP bought a new position in Serve Robotics during the 3rd quarter worth approximately $8,840,000. Geode Capital Management LLC grew its stake in Serve Robotics by 176.0% in the second quarter. Geode Capital Management LLC now owns 878,668 shares of the company’s stock valued at $10,054,000 after purchasing an additional 560,361 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Serve Robotics by 25.2% in the 3rd 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 during the period. Bank of America Corp DE raised its stake in Serve Robotics by 157.9% in the 2nd quarter. Bank of America Corp DE now owns 401,557 shares of the company’s stock valued at $4,594,000 after acquiring an additional 245,858 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Serve Robotics by 280.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 297,138 shares of the company’s stock valued at $1,709,000 after acquiring an additional 219,018 shares during the period.

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.