Serve Robotics Inc. (NASDAQ:SERV) CFO Brian Read Sells 1,212 Shares

Key Points

• Brian Read, CFO of Serve Robotics Inc., recently sold 1,212 shares at an average price of $10.46, bringing his total ownership to 396,266 shares, valued at approximately $4.14 million.
• The stock price of Serve Robotics dipped by 2.2% to $10.11, with a market cap of $576.37 million and a 12-month price range between $4.66 and $24.35.
• Wall Street analysts have a generally positive outlook on Serve Robotics, with a consensus rating of "Buy" and a target price of $18.67 as reported by Cantor Fitzgerald.

Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) CFO Brian Read sold 1,212 shares of Serve Robotics stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $10.46, for a total transaction of $12,677.52. Following the sale, the chief financial officer directly owned 396,266 shares in the company, valued at $4,144,942.36. The trade was a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Tuesday, July 1st, Brian Read sold 1,291 shares of Serve Robotics stock. The stock was sold at an average price of $10.83, for a total value 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 value of $25,180.00.
• On Friday, May 30th, Brian Read sold 1,295 shares of Serve Robotics stock. The shares were sold at an average price of $11.56, for a total value 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.
• On Thursday, May 22nd, Brian Read sold 1,000 shares of Serve Robotics stock. The stock was sold at an average price of $11.52, for a total value of $11,520.00.
• On Tuesday, May 13th, Brian Read sold 8,900 shares of Serve Robotics stock. The stock was sold at an average price of $8.95, for a total value of $79,655.00.
• On Friday, May 9th, Brian Read sold 7,000 shares of Serve Robotics stock. The stock was sold at an average price of $8.03, for a total transaction of $56,210.00.
• On Friday, May 2nd, Brian Read sold 29,100 shares of Serve Robotics stock. The shares were sold at an average price of $7.06, for a total transaction of $205,446.00.

Serve Robotics Stock Down 2.2%

NASDAQ SERV traded down $0.23 on Wednesday, reaching $10.11. The company had a trading volume of 3,601,796 shares, compared to its average volume of 7,374,006. The stock has a market capitalization of $576.37 million, a PE ratio of -9.54 and a beta of 0.13. Serve Robotics Inc. has a 12 month low of $4.66 and a 12 month high of $24.35. The firm's 50 day moving average price is $11.29 and its 200 day moving average price is $10.57.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald assumed coverage on Serve Robotics in a research note on Thursday, May 22nd. They issued an "overweight" rating for the company. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $18.67.

Hedge Funds Weigh In On Serve Robotics

Several institutional investors have recently bought and sold shares of SERV. Uber Technologies Inc bought a new position in Serve Robotics during the fourth quarter valued at $71,534,000. Vanguard Group Inc. boosted its holdings in shares of Serve Robotics by 74.6% in the 4th quarter. Vanguard Group Inc. now owns 1,274,303 shares of the company's stock valued at $17,203,000 after buying an additional 544,537 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Serve Robotics by 12.9% during the second quarter. Exchange Traded Concepts LLC now owns 996,283 shares of the company's stock worth $11,397,000 after purchasing an additional 113,761 shares in the last quarter. Capital Fund Management S.A. acquired a new position in shares of Serve Robotics during the first quarter valued at about $4,244,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Serve Robotics by 616.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 679,014 shares of the company's stock valued at $3,972,000 after acquiring an additional 584,302 shares in the last quarter.

Serve Robotics Company Profile

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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