Serve Robotics Inc. (NASDAQ:SERV) CFO Sells $13,981.53 in Stock

Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) CFO Brian Read sold 1,291 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $10.83, for a total value of $13,981.53. Following the transaction, the chief financial officer owned 216,414 shares of the company's stock, valued at $2,343,763.62. This represents a 0.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 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 shares were 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 shares were 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 shares were sold at an average price of $8.95, for a total transaction 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 stock was sold at an average price of $7.06, for a total value of $205,446.00.

Serve Robotics Stock Performance

Shares of SERV traded up $0.01 during trading hours on Wednesday, reaching $10.91. 1,221,605 shares of the company traded hands, compared to its average volume of 10,338,364. Serve Robotics Inc. has a 1-year low of $1.82 and a 1-year high of $24.35. The stock has a market cap of $621.69 million, a P/E ratio of -10.33 and a beta of 0.18. The stock's fifty day moving average is $9.91 and its 200 day moving average is $11.27.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Serve Robotics

A number of institutional investors have recently added to or reduced their stakes in SERV. Uber Technologies Inc bought a new position in Serve Robotics during the 4th quarter valued at about $71,534,000. Vanguard Group Inc. grew its stake in Serve Robotics by 74.6% during the fourth quarter. Vanguard Group Inc. now owns 1,274,303 shares of the company's stock worth $17,203,000 after buying an additional 544,537 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Serve Robotics by 31.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 882,522 shares of the company's stock valued at $5,075,000 after purchasing an additional 210,977 shares in the last quarter. Capital Fund Management S.A. bought a new position in shares of Serve Robotics in the first quarter valued at about $4,244,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 worth $3,972,000 after purchasing an additional 584,302 shares in the last quarter.

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.