Insider Selling: Serve Robotics (NASDAQ:SERV) CFO Sells $132,257.60 in Stock

Serve Robotics Inc. (NASDAQ:SERV) CFO Brian Read sold 25,240 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $5.24, for a total transaction of $132,257.60. Following the transaction, the chief financial officer owned 291,831 shares of the company’s stock, valued at approximately $1,529,194.44. This trade represents a 7.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, August 19th, Brian Read sold 9,700 shares of Serve Robotics stock. The stock was sold at an average price of $4.80, for a total transaction of $46,560.00.
• On Tuesday, August 18th, Brian Read sold 6,129 shares of Serve Robotics stock. The stock was sold at an average price of $4.56, for a total transaction of $27,948.24.
• On Wednesday, June 10th, Brian Read sold 1,496 shares of Serve Robotics stock. The shares were sold at an average price of $7.24, for a total transaction of $10,831.04.

Serve Robotics Stock Performance

Shares of NASDAQ:SERV opened at $4.98 on Friday. The stock has a market capitalization of $431.82 million, a price-to-earnings 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 50 day moving average price of $5.63 and a 200 day moving average price of $7.90.

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

Hedge Funds Weigh In On Serve Robotics

Several institutional investors and hedge funds have recently added to or reduced their stakes in SERV. Goldman Sachs Group Inc. raised its stake in Serve Robotics by 280.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 297,138 shares of the company’s stock valued at $1,709,000 after purchasing an additional 219,018 shares during the period. Creative Planning boosted its position in shares of Serve Robotics by 25.9% in the second quarter. Creative Planning now owns 12,923 shares of the company’s stock worth $148,000 after buying an additional 2,655 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Serve Robotics by 294.3% in the second quarter. JPMorgan Chase & Co. now owns 29,905 shares of the company’s stock worth $342,000 after buying an additional 22,320 shares during the period. Rhumbline Advisers purchased a new position in shares of Serve Robotics during the second quarter valued at $767,000. Finally, American Century Companies Inc. purchased a new position in shares of Serve Robotics during the second quarter valued at $122,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SERV. Weiss Ratings upgraded Serve Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 21st. Oppenheimer reduced their target price on Serve Robotics from $20.00 to $7.00 and set an “outperform” rating for the company in a report on Friday, August 7th. Cantor Fitzgerald lowered Serve Robotics from an “overweight” rating to a “neutral” rating in a research report on Friday, August 7th. LADENBURG THALM/SH SH lifted their price target on Serve Robotics from $15.00 to $16.60 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Freedom Capital upgraded Serve Robotics from a “hold” rating to a “strong-buy” rating in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Serve Robotics currently has a consensus rating of “Moderate Buy” and a consensus target price 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.