Serve Robotics Inc. (NASDAQ:SERV) CFO Brian Read Sells 2,000 Shares

Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) CFO Brian Read sold 2,000 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $12.59, for a total transaction of $25,180.00. Following the completion of the transaction, the chief financial officer now directly owns 217,705 shares of the company's stock, valued at approximately $2,740,905.95. This trade represents a 0.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• 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 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 value 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 transaction 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 transaction of $79,655.00.
• On Friday, May 9th, Brian Read sold 7,000 shares of Serve Robotics stock. The shares were 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 value of $205,446.00.

Serve Robotics Trading Down 6.7%

NASDAQ SERV traded down $0.86 during midday trading on Thursday, hitting $11.90. The company had a trading volume of 6,986,825 shares, compared to its average volume of 10,130,755. The company has a market capitalization of $678.38 million, a PE ratio of -11.23 and a beta of 1.67. Serve Robotics Inc. has a twelve month low of $1.82 and a twelve month high of $24.35. The firm has a 50-day moving average price of $8.37 and a 200-day moving average price of $11.20.

Institutional Trading of Serve Robotics

Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its holdings in shares of Serve Robotics by 280.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 297,138 shares of the company's stock worth $1,709,000 after buying an additional 219,018 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in 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 acquiring an additional 584,302 shares in the last quarter. Bosun Asset Management LLC bought a new position in shares of Serve Robotics in the first quarter worth about $129,000. Cubist Systematic Strategies LLC bought a new position in Serve Robotics in the 1st quarter valued at approximately $2,064,000. Finally, PEAK6 LLC boosted its position in Serve Robotics by 377.7% in the first quarter. PEAK6 LLC now owns 15,314 shares of the company's stock valued at $88,000 after buying an additional 20,829 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SERV shares. Cantor Fitzgerald started coverage on shares of Serve Robotics in a research report on Thursday, May 22nd. They issued an "overweight" rating for the company. Northland Securities set a $23.00 price objective on shares of Serve Robotics in a research note on Tuesday, February 18th. Three analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Strong Buy" and an average price target of $18.67.

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.