Touraj Parang Sells 37,993 Shares of Serve Robotics (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang sold 37,993 shares of Serve Robotics stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $4.55, for a total transaction of $172,868.15. Following the transaction, the chief operating officer owned 1,260,251 shares in the company, valued at $5,734,142.05. The trade was a 2.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Touraj Parang also recently made the following trade(s):

• On Wednesday, June 10th, Touraj Parang sold 4,219 shares of Serve Robotics stock. The shares were sold at an average price of $7.24, for a total value of $30,545.56.

Serve Robotics Price Performance

NASDAQ:SERV opened at $4.74 on Friday. The business’s 50-day moving average is $5.67 and its two-hundred day moving average is $7.92. The firm has a market capitalization of $411.01 million, a PE ratio of -1.93 and a beta of 1.34. Serve Robotics Inc. has a 12 month low of $4.32 and a 12 month high of $18.64.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on SERV shares. Oppenheimer decreased their price target on Serve Robotics from $20.00 to $7.00 and set an “outperform” rating for the company in a report on Friday, August 7th. Guggenheim dropped their price objective on shares of Serve Robotics from $13.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. LADENBURG THALM/SH SH boosted their target price on shares of Serve Robotics from $15.00 to $16.60 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Freedom Capital upgraded shares of Serve Robotics from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 14th. Finally, Cantor Fitzgerald downgraded shares of Serve Robotics from an “overweight” rating to a “neutral” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $14.80.

Serve Robotics News Summary

Here are the key news stories impacting Serve Robotics this week:

• Positive Sentiment: Serve Robotics announced a partnership with Wonder to support autonomous food delivery using sidewalk robots. The deal adds another potential customer and distribution channel, which could increase utilization of SERV’s fleet and expand its commercial footprint. Wonder partners with Serve Robotics on autonomous delivery by sidewalk robots
• Positive Sentiment: Serve is also preparing to deploy its autonomous delivery robots through Grubhub. Access to Grubhub’s restaurant network could help SERV monetize its more than 2,000 robots and improve fleet utilization, although the financial impact has not yet been quantified. Serve Robotics to deploy its autonomous delivery robots with Grubhub
• Neutral Sentiment: Analyst commentary highlights the opportunity to turn SERV’s growing robot fleet into a revenue engine through higher utilization, partnerships and additional services. However, this is a growth thesis rather than evidence of near-term profitability, and Serve continues to face a highly competitive market. Can Serve Robotics Turn 2,000 Robots Into a Revenue Growth Engine?
• Negative Sentiment: Serve has lost its Uber Eats relationship and is turning to Grubhub, raising questions about customer concentration and the pace of revenue growth. Recent guidance concerns have also overshadowed the positive partnership announcements. Serve Robotics Turns to Grubhub After Losing Uber Eats Deal
• Negative Sentiment: CEO Ali Kashani, COO Touraj Parang and CFO Brian Read reported multiple share sales totaling roughly 124,000 shares in August. The filings say the sales were made to cover tax withholding on vested restricted stock units, and the executives retained significant stakes, but the cluster of transactions may weigh on sentiment. Serve Robotics CEO Sells Shares to Cover RSU Tax Withholding

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Legal & General Group Plc purchased a new position in Serve Robotics in the second quarter valued at about $8,410,000. BlackRock Inc. increased its holdings in Serve Robotics by 24.5% during the 2nd quarter. BlackRock Inc. now owns 6,040,854 shares of the company’s stock worth $39,749,000 after purchasing an additional 1,190,622 shares during the last quarter. First Trust Advisors LP purchased a new stake in Serve Robotics during the 3rd quarter worth approximately $8,840,000. Vanguard Group Inc. raised its position 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 in the last quarter. Finally, Creek Drive Management Group LLC acquired a new position in shares of Serve Robotics in the 4th quarter valued at approximately $4,912,000.

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.