Insider Selling: Serve Robotics (NASDAQ:SERV) CFO Sells 10,216 Shares of Stock

Key Points

• Serve Robotics CFO Brian Read sold 10,216 shares of stock at an average price of $9.82, totaling approximately $100,321, and now holds 373,263 shares valued at around $3.67 million.
• The company reported a loss of ($0.36) EPS, missing analysts' estimates, with revenue of $0.64 million for the quarter.
• Research analysts have mixed ratings for Serve Robotics, with a consensus of Buy and a price target averaging $18.67.

Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) CFO Brian Read sold 10,216 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $9.82, for a total transaction of $100,321.12. Following the completion of the sale, the chief financial officer directly owned 373,263 shares of the company's stock, valued at approximately $3,665,442.66. This represents a 2.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, August 5th, Brian Read sold 2,592 shares of Serve Robotics stock. The shares were sold at an average price of $10.64, for a total transaction of $27,578.88.
• On Wednesday, July 30th, Brian Read sold 1,212 shares of Serve Robotics stock. The shares were sold at an average price of $10.46, for a total transaction of $12,677.52.
• On Tuesday, July 1st, Brian Read sold 1,291 shares of Serve Robotics stock. The shares were sold at an average price of $10.83, for a total transaction of $13,981.53.
• On Monday, June 9th, Brian Read sold 2,000 shares of Serve Robotics stock. The stock was sold at an average price of $12.59, for a total transaction of $25,180.00.
• On Friday, May 30th, Brian Read sold 1,295 shares of Serve Robotics stock. The stock was sold at an average price of $11.56, for a total transaction of $14,970.20.
• On Tuesday, May 27th, Brian Read sold 3,000 shares of Serve Robotics stock. The stock was sold at an average price of $12.15, for a total transaction of $36,450.00.

Serve Robotics Stock Performance

SERV traded up $0.13 during trading on Monday, reaching $9.84. 3,379,687 shares of the company's stock were exchanged, compared to its average volume of 7,037,614. The company's fifty day moving average price is $10.67 and its 200-day moving average price is $9.63. Serve Robotics Inc. has a fifty-two week low of $4.66 and a fifty-two week high of $24.35. The firm has a market capitalization of $589.24 million, a PE ratio of -8.56 and a beta of -0.11.

Serve Robotics (NASDAQ:SERV - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.13). Serve Robotics had a negative return on equity of 36.47% and a negative net margin of 3,726.00%.The business had revenue of $0.64 million for the quarter, compared to analyst estimates of $0.63 million. Research analysts forecast that Serve Robotics Inc. will post -0.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Serve Robotics

Several institutional investors have recently added to or reduced their stakes in SERV. LPL Financial LLC bought a new stake in Serve Robotics in the 4th quarter valued at $294,000. Geode Capital Management LLC lifted its position in Serve Robotics by 36.6% in the 4th quarter. Geode Capital Management LLC now owns 178,780 shares of the company's stock valued at $2,415,000 after acquiring an additional 47,927 shares in the last quarter. Wells Fargo & Company MN lifted its position in Serve Robotics by 294.0% in the 4th quarter. Wells Fargo & Company MN now owns 10,855 shares of the company's stock valued at $147,000 after acquiring an additional 8,100 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Serve Robotics in the 4th quarter valued at $1,978,000. Finally, Northern Trust Corp lifted its position in Serve Robotics by 178.0% during the 4th quarter. Northern Trust Corp now owns 31,633 shares of the company's stock worth $427,000 after buying an additional 20,253 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SERV. Seaport Res Ptn lowered shares of Serve Robotics from a "strong-buy" rating to a "hold" rating in a report on Monday, August 11th. Cantor Fitzgerald started coverage on shares of Serve Robotics in a report on Thursday, May 22nd. They set an "overweight" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $18.67.

About Serve Robotics

Serve Robotics Inc designs, develops, and operates low-emission robots that serve people in public spaces with food delivery in the United States. It builds self-driving delivery robots. The company was formerly known as Patricia Acquisition Corp. and changed its name to Serve Robotics Inc in July 2023.

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