Insider Selling: Serve Robotics (NASDAQ:SERV) Insider Sells $22,754.79 in Stock

Serve Robotics Inc. (NASDAQ:SERV) insider Euan Abraham sold 1,917 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $11.87, for a total transaction of $22,754.79. Following the completion of the sale, the insider directly owned 242,867 shares of the company’s stock, valued at $2,882,831.29. The trade was a 0.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Euan Abraham also recently made the following trade(s):

• On Thursday, November 6th, Euan Abraham sold 1,840 shares of Serve Robotics stock. The shares were sold at an average price of $10.80, for a total transaction of $19,872.00.
• On Wednesday, November 5th, Euan Abraham sold 3,915 shares of Serve Robotics stock. The stock was sold at an average price of $11.69, for a total transaction of $45,766.35.
• On Wednesday, October 15th, Euan Abraham sold 25,000 shares of Serve Robotics stock. The stock was sold at an average price of $17.99, for a total transaction of $449,750.00.
• On Tuesday, October 7th, Euan Abraham sold 1,480 shares of Serve Robotics stock. The shares were sold at an average price of $15.19, for a total transaction of $22,481.20.
• On Friday, September 19th, Euan Abraham sold 25,000 shares of Serve Robotics stock. The shares were sold at an average price of $14.99, for a total transaction of $374,750.00.
• On Thursday, September 18th, Euan Abraham sold 8,433 shares of Serve Robotics stock. The stock was sold at an average price of $12.38, for a total value of $104,400.54.

Serve Robotics Price Performance

SERV opened at $9.55 on Thursday. The business has a 50 day moving average price of $12.10 and a two-hundred day moving average price of $11.53. The company has a market capitalization of $711.28 million, a price-to-earnings ratio of -6.41 and a beta of -0.14. Serve Robotics Inc. has a 1-year low of $4.66 and a 1-year high of $24.35.

Serve Robotics (NASDAQ:SERV) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.17). The firm had revenue of $0.69 million for the quarter, compared to analyst estimates of $0.69 million. Serve Robotics had a negative net margin of 4,121.58% and a negative return on equity of 38.52%. Equities analysts expect that Serve Robotics Inc. will post -0.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SERV. Vanguard Group Inc. increased its position in shares of Serve Robotics by 25.2% in the third quarter. Vanguard Group Inc. now owns 2,594,869 shares of the company’s stock worth $30,178,000 after acquiring an additional 521,945 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Serve Robotics by 11.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,109,001 shares of the company’s stock worth $12,898,000 after purchasing an additional 112,718 shares during the period. Geode Capital Management LLC boosted its stake in Serve Robotics by 176.0% in the 2nd quarter. Geode Capital Management LLC now owns 878,668 shares of the company’s stock worth $10,054,000 after purchasing an additional 560,361 shares during the period. First Trust Advisors LP purchased a new position in Serve Robotics during the 3rd quarter worth approximately $8,840,000. Finally, Legal & General Group Plc raised its stake in Serve Robotics by 8.3% during the 3rd quarter. Legal & General Group Plc now owns 751,834 shares of the company’s stock valued at $8,816,000 after purchasing an additional 57,905 shares during the period.

Analyst Upgrades and Downgrades

SERV has been the subject of several research reports. Northland Securities set a $26.00 price objective on shares of Serve Robotics in a research report on Monday, October 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Serve Robotics in a research note on Monday. Cantor Fitzgerald restated an “overweight” rating on shares of Serve Robotics in a report on Monday, November 17th. Singular Research upgraded shares of Serve Robotics to a “moderate buy” rating in a research report on Tuesday, August 26th. Finally, Wedbush started coverage on Serve Robotics in a research report on Wednesday, August 27th. They set an “outperform” rating and a $15.00 price objective for the company. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.50.

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.