Serve Robotics (NASDAQ:SERV) CFO Brian Read Sells 9,700 Shares

Serve Robotics Inc. (NASDAQ:SERV) CFO Brian Read sold 9,700 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $4.80, for a total value of $46,560.00. Following the completion of the sale, the chief financial officer owned 276,002 shares in the company, valued at $1,324,809.60. This trade represents a 3.40% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 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 Monday, August 17th, Brian Read sold 25,240 shares of Serve Robotics stock. The shares were sold at an average price of $5.24, for a total value of $132,257.60.
• 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 Trading Up 5.1%

NASDAQ:SERV opened at $4.78 on Thursday. The company has a 50-day moving average price of $5.72 and a 200-day moving average price of $7.96. The stock has a market cap of $414.46 million, a price-to-earnings ratio of -1.95 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 announced its 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 firm had revenue of $3.24 million during the quarter, compared to the consensus estimate of $3.51 million. Serve Robotics had a negative return on equity of 55.34% and a negative net margin of 2,315.80%. Equities analysts forecast that Serve Robotics Inc. will post -2.71 EPS for the current fiscal year.

Key Headlines Impacting Serve Robotics

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

• Positive Sentiment: Serve Robotics announced that it will deploy autonomous delivery robots through Grubhub, giving the company another commercial distribution channel and potentially expanding robot utilization. Serve Robotics to deploy its autonomous delivery robots with Grubhub
• Neutral Sentiment: The broader rollout of delivery robots suggests continued growth potential for the autonomous delivery market, but increased competition and the need to prove sustainable demand remain important risks for Serve Robotics. More delivery robots are heading to sidewalks near you
• Negative Sentiment: Investor reaction has focused on Serve Robotics cutting its guidance, with the negative outlook overshadowing enthusiasm about the Grubhub deal. The company also lost its Uber Eats relationship, increasing uncertainty around customer growth and near-term revenue. Serve Robotics Sinks as Guidance Cut Overshadows Grubhub Deal Serve Robotics Turns to Grubhub After Losing Uber Eats Deal
• Negative Sentiment: CEO Ali Kashani, executive Touraj Parang and CFO Brian Read reported multiple stock sales totaling roughly 124,000 shares during August. The filings state the transactions were used to cover tax withholding tied to vested restricted stock units, and the executives retained substantial holdings; nevertheless, the cluster of sales can create a negative short-term sentiment signal. Serve Robotics CEO Sells Shares to Cover RSU Tax Withholding Serve Robotics Executive Executes Two Stock Sales

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SERV. DNB Asset Management AS lifted its position in shares of Serve Robotics by 178.9% in the 4th quarter. DNB Asset Management AS now owns 239,205 shares of the company’s stock worth $2,483,000 after purchasing an additional 153,436 shares during the period. Jupiter Asset Management Ltd. purchased a new position in shares of Serve Robotics in the 4th quarter valued at approximately $1,427,000. Grange Capital LLC acquired a new stake in shares of Serve Robotics during the first quarter worth $2,426,000. Hsbc Holdings PLC acquired a new position in shares of Serve Robotics in the 4th quarter valued at $1,061,000. Finally, Legal & General Group Plc grew its stake in Serve Robotics by 11.7% during the 4th quarter. Legal & General Group Plc now owns 839,933 shares of the company’s stock valued at $8,864,000 after purchasing an additional 88,099 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have commented on SERV. Oppenheimer cut their target price on Serve Robotics from $20.00 to $7.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Weiss Ratings upgraded Serve Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 21st. Guggenheim lowered their target price 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. Cantor Fitzgerald cut shares of Serve Robotics from an “overweight” rating to a “neutral” rating in a research report on Friday, August 7th. Finally, Freedom Capital raised Serve Robotics from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.