Legal & General Group Plc Raises Stock Holdings in Serve Robotics Inc. $SERV

Legal & General Group Plc raised its position in shares of Serve Robotics Inc. (NASDAQ:SERV) by 11.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 839,933 shares of the company’s stock after acquiring an additional 88,099 shares during the period. Legal & General Group Plc’s holdings in Serve Robotics were worth $8,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in shares of Serve Robotics by 299.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company’s stock valued at $33,000 after purchasing an additional 2,392 shares during the last quarter. IFP Advisors Inc bought a new position in shares of Serve Robotics during the 4th quarter valued at approximately $309,000. ProShare Advisors LLC bought a new position in shares of Serve Robotics during the 4th quarter valued at approximately $119,000. HighTower Advisors LLC bought a new position in shares of Serve Robotics during the 4th quarter valued at approximately $119,000. Finally, DNB Asset Management AS increased its position in shares of Serve Robotics by 178.9% during the 4th quarter. DNB Asset Management AS now owns 239,205 shares of the company’s stock valued at $2,483,000 after purchasing an additional 153,436 shares during the last quarter.

Serve Robotics Trading Up 2.1%

Shares of SERV stock opened at $8.41 on Friday. Serve Robotics Inc. has a twelve month low of $7.66 and a twelve month high of $18.64. The stock has a market capitalization of $650.71 million, a price-to-earnings ratio of -4.18 and a beta of 0.53. The stock has a fifty day simple moving average of $8.87 and a two-hundred day simple moving average of $10.19.

Serve Robotics (NASDAQ:SERV) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.08). The company had revenue of $2.98 million for the quarter, compared to analysts’ expectations of $2.83 million. Serve Robotics had a negative return on equity of 47.31% and a negative net margin of 2,639.98%. Research analysts predict that Serve Robotics Inc. will post -2.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SERV shares. Weiss Ratings downgraded Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. Freedom Capital downgraded Serve Robotics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Guggenheim began coverage on Serve Robotics in a research report on Monday, April 20th. They issued a “buy” rating and a $13.00 price objective on the stock. LADENBURG THALM/SH SH upped their price objective on Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Finally, Cantor Fitzgerald cut their price objective on Serve Robotics from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 17th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.51.

Insiders Place Their Bets

In other news, CFO Brian Read sold 2,790 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $9.29, for a total value of $25,919.10. Following the transaction, the chief financial officer directly owned 318,768 shares of the company’s stock, valued at approximately $2,961,354.72. This represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ali Kashani sold 14,644 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $9.26, for a total value of $135,603.44. Following the completion of the transaction, the chief executive officer directly owned 3,293,976 shares in the company, valued at $30,502,217.76. This represents a 0.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 81,632 shares of company stock valued at $755,403. 5.00% of the stock is owned by corporate insiders.

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.