Serve Robotics (NASDAQ:SERV) CEO Sells $125,343.42 in Stock

Key Points

• Ali Kashani, Serve Robotics' CEO, sold 14,541 shares on April 8 at an average $8.62 for $125,343.42 to cover tax withholding on vested equity, leaving him with 3,320,373 shares (a 0.44% decrease).
• The April sale continues a pattern of insider disposals this year, including sales of 13,500 shares on March 10, 9,259 on February 11 and 8,101 on February 4.
• SERV trades near $8.08 with a market cap of about $612M and negative earnings, while analysts maintain an average rating of Buy with a mean price target of $18.60.

Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) CEO Ali Kashani sold 14,541 shares of the company's stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $8.62, for a total value of $125,343.42. Following the sale, the chief executive officer directly owned 3,320,373 shares in the company, valued at $28,621,615.26. This represents a 0.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ali Kashani also recently made the following trade(s):

• On Tuesday, March 10th, Ali Kashani sold 13,500 shares of Serve Robotics stock. The stock was sold at an average price of $9.72, for a total value of $131,220.00.
• On Wednesday, February 11th, Ali Kashani sold 9,259 shares of Serve Robotics stock. The stock was sold at an average price of $10.17, for a total value of $94,164.03.
• On Wednesday, February 4th, Ali Kashani sold 8,101 shares of Serve Robotics stock. The stock was sold at an average price of $10.33, for a total value of $83,683.33.

Serve Robotics Stock Performance

Shares of Serve Robotics stock traded down $0.29 during trading hours on Thursday, reaching $8.08. 2,993,272 shares of the company were exchanged, compared to its average volume of 5,353,090. Serve Robotics Inc. has a 1 year low of $4.95 and a 1 year high of $18.64. The stock's fifty day moving average is $9.51 and its 200 day moving average is $11.33. The firm has a market cap of $611.58 million, a PE ratio of -5.08 and a beta of 2.26.

Serve Robotics (NASDAQ:SERV - Get Free Report) last posted its quarterly earnings data on Wednesday, March 11th. The company reported ($0.46) earnings per share for the quarter, topping analysts' consensus estimates of ($0.49) by $0.03. The business had revenue of $0.88 million for 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%. Research analysts expect that Serve Robotics Inc. will post -0.98 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SERV shares. Loop Capital set a $16.00 target price on Serve Robotics in a report on Wednesday, December 31st. Weiss Ratings reissued a "sell (d-)" rating on shares of Serve Robotics in a report on Friday, March 27th. Cantor Fitzgerald dropped their target price on Serve Robotics from $17.00 to $16.00 and set an "overweight" rating on the stock in a report on Tuesday, March 17th. Northland Securities reissued an "outperform" rating and issued a $26.00 target price on shares of Serve Robotics in a report on Friday, January 2nd. Finally, Freedom Capital raised Serve Robotics to a "strong-buy" rating in a report on Wednesday, December 31st. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $18.60.

Hedge Funds Weigh In On Serve Robotics

Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC purchased a new position in shares of Serve Robotics during the third quarter worth about $27,000. Gordian Capital Singapore Pte Ltd acquired a new position in Serve Robotics during the fourth quarter worth approximately $31,000. Quadrant Capital Group LLC acquired a new position in Serve Robotics during the fourth quarter worth approximately $31,000. EverSource Wealth Advisors LLC increased its position in Serve Robotics by 299.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company's stock worth $33,000 after buying an additional 2,392 shares during the period. Finally, CWM LLC increased its position in Serve Robotics by 514.1% during the fourth quarter. CWM LLC now owns 3,439 shares of the company's stock worth $36,000 after buying an additional 2,879 shares during the period.

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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