Serve Robotics (NASDAQ:SERV) CFO Brian Read Sells 1,496 Shares

Serve Robotics Inc. (NASDAQ:SERV) CFO Brian Read sold 1,496 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $7.24, for a total transaction of $10,831.04. Following the sale, the chief financial officer owned 317,071 shares in the company, valued at $2,295,594.04. This trade represents a 0.47% 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.

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

• On Thursday, May 7th, Brian Read sold 201 shares of Serve Robotics stock. The stock was sold at an average price of $9.26, for a total transaction of $1,861.26.
• On Wednesday, May 6th, Brian Read sold 2,790 shares of Serve Robotics stock. The stock was sold at an average price of $9.29, for a total transaction of $25,919.10.
• On Friday, May 1st, Brian Read sold 1,179 shares of Serve Robotics stock. The stock was sold at an average price of $9.29, for a total transaction of $10,952.91.
• On Wednesday, April 8th, Brian Read sold 200 shares of Serve Robotics stock. The stock was sold at an average price of $8.62, for a total transaction of $1,724.00.

Serve Robotics Price Performance

Shares of NASDAQ:SERV opened at $7.44 on Friday. The firm has a market capitalization of $575.63 million, a PE ratio of -3.70 and a beta of 0.53. The firm’s 50-day moving average is $8.75 and its two-hundred day moving average is $10.13. Serve Robotics Inc. has a 1 year low of $6.84 and a 1 year high of $18.64.

Serve Robotics (NASDAQ:SERV) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.08). The business 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%. Analysts expect that Serve Robotics Inc. will post -2.64 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on SERV shares. LADENBURG THALM/SH SH boosted their price target on shares of Serve Robotics from $15.00 to $16.60 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Guggenheim began coverage on shares of Serve Robotics in a research note on Monday, April 20th. They set a “buy” rating and a $13.00 target price on the stock. Freedom Capital lowered shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Weiss Ratings lowered shares of Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. Finally, Cantor Fitzgerald cut their target price on shares of Serve Robotics from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 17th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.51.

Institutional Trading of Serve Robotics

A number of large investors have recently made changes to their positions in SERV. Goldman Sachs Group Inc. increased its stake in shares of Serve Robotics by 280.4% during the first quarter. Goldman Sachs Group Inc. now owns 297,138 shares of the company’s stock worth $1,709,000 after buying an additional 219,018 shares during the period. Creative Planning increased its stake in shares of Serve Robotics by 25.9% during 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. increased its stake in Serve Robotics by 294.3% in the second quarter. JPMorgan Chase & Co. now owns 29,905 shares of the company’s stock valued at $342,000 after purchasing an additional 22,320 shares during the last quarter. Rhumbline Advisers purchased a new position in Serve Robotics in the second quarter valued at approximately $767,000. Finally, American Century Companies Inc. purchased a new position in Serve Robotics in the second quarter valued at approximately $122,000.

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.