Serve Robotics Inc. $SERV Stock Holdings Lessened by UBS Group AG

Key Points

• UBS Group AG cut its Serve Robotics stake by 23.5% in the fourth quarter, selling 163,729 shares and ending with 533,906 shares valued at about $5.54 million.
• Several insiders sold shares in May, including CFO Brian Read and COO Touraj Parang, with total insider sales totaling 83,438 shares worth $772,667 over the last quarter.
• Serve Robotics reported a wider-than-expected loss in its latest earnings, posting EPS of -$0.65 versus the -$0.57 consensus, even though revenue of $2.98 million slightly topped estimates.

UBS Group AG reduced its stake in shares of Serve Robotics Inc. (NASDAQ:SERV - Free Report) by 23.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 533,906 shares of the company's stock after selling 163,729 shares during the quarter. UBS Group AG owned approximately 0.72% of Serve Robotics worth $5,542,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in SERV. Sanctuary Advisors LLC purchased a new stake in Serve Robotics in the 4th quarter worth approximately $170,000. Arizona State Retirement System purchased a new position in shares of Serve Robotics during the 4th quarter valued at $163,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Serve Robotics during the 4th quarter valued at $329,000. CWM LLC increased its stake in shares of Serve Robotics by 514.1% in the fourth quarter. CWM LLC now owns 3,439 shares of the company's stock worth $36,000 after acquiring an additional 2,879 shares during the last quarter. Finally, PFG Investments LLC increased its stake in shares of Serve Robotics by 15.4% in the fourth quarter. PFG Investments LLC now owns 50,766 shares of the company's stock worth $527,000 after acquiring an additional 6,775 shares during the last quarter.

Insider Buying and Selling

In other Serve Robotics news, CFO Brian Read sold 2,790 shares of the company's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $9.29, for a total transaction of $25,919.10. Following the completion of the sale, the chief financial officer owned 318,768 shares of the company's stock, valued at $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 available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Touraj Parang sold 3,888 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $9.26, for a total value of $36,002.88. Following the transaction, the chief operating officer owned 1,302,463 shares in the company, valued at approximately $12,060,807.38. This trade represents a 0.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 83,438 shares of company stock valued at $772,667 in the last quarter. Company insiders own 5.00% of the company's stock.

Serve Robotics Trading Up 3.5%

Shares of NASDAQ:SERV opened at $8.38 on Thursday. The stock has a market capitalization of $648.36 million, a PE ratio of -4.17 and a beta of 0.96. Serve Robotics Inc. has a 1 year low of $7.66 and a 1 year high of $18.64. The firm has a fifty day moving average price of $9.00 and a 200 day moving average price of $10.35.

Serve Robotics (NASDAQ:SERV - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.08). The company had revenue of $2.98 million for the quarter, compared to the consensus estimate 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 forecast that Serve Robotics Inc. will post -2.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SERV has been the subject of a number of research reports. Guggenheim initiated coverage on Serve Robotics in a research report on Monday, April 20th. They set a "buy" rating and a $13.00 price objective for the company. LADENBURG THALM/SH SH upped their target price on Serve Robotics from $15.00 to $16.60 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Cantor Fitzgerald cut their price target on Serve Robotics from $17.00 to $16.00 and set an "overweight" rating for the company in a research note on Tuesday, March 17th. Freedom Capital lowered Serve Robotics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 13th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Serve Robotics in a research note on Friday, March 27th. Seven investment 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 has a consensus rating of "Moderate Buy" and an average target price of $17.51.

About Serve Robotics

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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