Insider Selling: Serve Robotics (NASDAQ:SERV) CFO Sells $10,952.91 in Stock

Key Points

• CFO Brian Read sold 1,179 shares on May 1 at $9.29 each for $10,952.91 to cover tax withholding related to vested equity, leaving him with 321,558 shares (a 0.37% reduction).
• Read has repeatedly sold smaller blocks of stock this year (including 3,185 shares on Feb. 4 and 1,268 on Mar. 3), suggesting ongoing, routine liquidations tied to equity awards rather than a single large exit.
• Serve Robotics trades around $9.35 with a market cap near $723 million, reports negative EPS and margins, yet analysts have an average Buy rating and a consensus target price of $17.67.

Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) CFO Brian Read sold 1,179 shares of Serve Robotics stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $9.29, for a total transaction of $10,952.91. Following the sale, the chief financial officer owned 321,558 shares of the company's stock, valued at $2,987,273.82. The trade was a 0.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Wednesday, April 8th, Brian Read sold 200 shares of Serve Robotics stock. The stock was sold at an average price of $8.62, for a total transaction of $1,724.00.
• On Tuesday, March 10th, Brian Read sold 203 shares of Serve Robotics stock. The shares were sold at an average price of $9.72, for a total transaction of $1,973.16.
• On Tuesday, March 3rd, Brian Read sold 1,268 shares of Serve Robotics stock. The shares were sold at an average price of $9.61, for a total value of $12,185.48.
• On Wednesday, February 11th, Brian Read sold 185 shares of Serve Robotics stock. The stock was sold at an average price of $10.17, for a total value of $1,881.45.
• On Wednesday, February 4th, Brian Read sold 3,185 shares of Serve Robotics stock. The stock was sold at an average price of $10.33, for a total value of $32,901.05.
• On Tuesday, February 3rd, Brian Read sold 1,547 shares of Serve Robotics stock. The stock was sold at an average price of $10.83, for a total value of $16,754.01.

Serve Robotics Stock Performance

NASDAQ SERV traded down $0.05 on Monday, reaching $9.35. 2,698,423 shares of the stock traded hands, compared to its average volume of 4,903,493. The company has a fifty day moving average price of $9.26 and a 200-day moving average price of $10.82. The company has a market cap of $722.94 million, a price-to-earnings ratio of -5.88 and a beta of 0.96. Serve Robotics Inc. has a 12 month low of $5.87 and a 12 month high of $18.64.

Serve Robotics (NASDAQ:SERV - Get Free Report) last issued its earnings results on Thursday, March 12th. The company reported ($0.46) earnings per share for the quarter, beating analysts' consensus estimates of ($0.49) by $0.03. The business had revenue of $0.88 million during the quarter, compared to analyst estimates of $0.77 million. Serve Robotics had a negative return on equity of 38.54% and a negative net margin of 3,821.98%. As a group, research analysts anticipate that Serve Robotics Inc. will post -2.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Serve Robotics

A number of institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC purchased a new stake in shares of Serve Robotics during the third quarter valued at about $27,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Serve Robotics in the 4th quarter valued at about $31,000. Quadrant Capital Group LLC purchased a new position in shares of Serve Robotics in the 4th quarter worth approximately $31,000. EverSource Wealth Advisors LLC raised its stake in shares of Serve Robotics by 299.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company's stock worth $33,000 after acquiring an additional 2,392 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Serve Robotics by 514.1% during the 4th quarter. CWM LLC now owns 3,439 shares of the company's stock worth $36,000 after acquiring an additional 2,879 shares in the last quarter.

Analyst Ratings Changes

A number of analysts recently weighed in on SERV shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Serve Robotics in a research note on Friday, March 27th. Guggenheim started coverage on shares of Serve Robotics in a research note on Monday, April 20th. They issued a "buy" rating and a $13.00 price objective for the company. Finally, Cantor Fitzgerald lowered their price objective on shares of Serve Robotics from $17.00 to $16.00 and set an "overweight" rating for the company in a research note on Tuesday, March 17th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Serve Robotics presently has an average rating of "Buy" and a consensus target price of $17.67.

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.

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