Serve Robotics Inc. $SERV Shares Acquired by DNB Asset Management AS

Key Points

• DNB Asset Management AS increased its stake in Serve Robotics by 178.9% in the fourth quarter, buying 153,436 additional shares and bringing its total holdings to 239,205 shares worth about $2.48 million.
• Institutional interest in Serve Robotics was mixed but generally positive, with several firms boosting holdings; meanwhile, analysts currently rate the stock a “Moderate Buy” with a consensus target price of $17.51.
• The company reported a wider-than-expected loss in its latest quarter, with EPS of -$0.65 versus estimates of -$0.57, though revenue of $2.98 million slightly beat forecasts. Shares opened at $8.38, well below the stock’s 52-week high of $18.64.

DNB Asset Management AS grew its stake in Serve Robotics Inc. (NASDAQ:SERV - Free Report) by 178.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 239,205 shares of the company's stock after purchasing an additional 153,436 shares during the period. DNB Asset Management AS owned approximately 0.32% of Serve Robotics worth $2,483,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC increased its holdings in shares of Serve Robotics by 12.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,247,559 shares of the company's stock valued at $12,950,000 after purchasing an additional 138,558 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Serve Robotics by 28.5% in the third quarter. JPMorgan Chase & Co. now owns 38,422 shares of the company's stock valued at $447,000 after purchasing an additional 8,517 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in shares of Serve Robotics by 675.2% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 9,070 shares of the company's stock valued at $94,000 after purchasing an additional 7,900 shares during the period. Cambria Investment Management L.P. grew its holdings in Serve Robotics by 25.0% during the third quarter. Cambria Investment Management L.P. now owns 74,391 shares of the company's stock worth $865,000 after acquiring an additional 14,877 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Serve Robotics by 258.5% during the third quarter. Caitong International Asset Management Co. Ltd now owns 8,432 shares of the company's stock worth $98,000 after acquiring an additional 6,080 shares during the period.

Analyst Ratings Changes

A number of research analysts recently weighed in on SERV shares. Cantor Fitzgerald dropped their price objective on Serve Robotics from $17.00 to $16.00 and set an "overweight" rating on the stock in a report on Tuesday, March 17th. LADENBURG THALM/SH SH upped their price objective on Serve Robotics from $15.00 to $16.60 and gave the stock a "buy" rating in a report on Wednesday, May 13th. Freedom Capital lowered Serve Robotics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 13th. Guggenheim started coverage on Serve Robotics in a report on Monday, April 20th. They set a "buy" rating and a $13.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Serve Robotics in a report on Friday, March 27th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.51.

Insiders Place Their Bets

In related news, insider Anthony Armenta sold 3,567 shares of the company's stock in a transaction on Friday, March 13th. The stock was sold at an average price of $9.82, for a total value of $35,027.94. Following the completion of the transaction, the insider directly owned 540,919 shares in the company, valued at approximately $5,311,824.58. This represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brian Read sold 2,790 shares of the company's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $9.29, for a total value of $25,919.10. Following the completion of the transaction, the chief financial officer owned 318,768 shares of the company's stock, valued at $2,961,354.72. The trade was a 0.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 83,438 shares of company stock valued at $772,667. 5.00% of the stock is owned by company insiders.

Serve Robotics Stock Up 3.5%

Shares of NASDAQ:SERV opened at $8.38 on Thursday. Serve Robotics Inc. has a 52-week low of $7.66 and a 52-week high of $18.64. The stock's fifty day simple moving average is $9.00 and its 200-day simple moving average is $10.35. The company has a market capitalization of $648.36 million, a P/E ratio of -4.17 and a beta of 0.96.

Serve Robotics (NASDAQ:SERV - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.08). The company had revenue of $2.98 million during the quarter, compared to analysts' expectations of $2.83 million. Serve Robotics had a negative net margin of 2,639.98% and a negative return on equity of 47.31%. On average, sell-side analysts anticipate that Serve Robotics Inc. will post -2.58 earnings per share for the current year.

Serve Robotics 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.

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