Serve Robotics (NASDAQ:SERV) Trading Down 6.4% Following Insider Selling

Serve Robotics Inc. (NASDAQ:SERV)’s share price traded down 6.4% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $6.96 and last traded at $6.9650. 4,132,492 shares traded hands during trading, a decline of 19% from the average session volume of 5,080,755 shares. The stock had previously closed at $7.44.

Specifically, CEO Ali Kashani sold 15,885 shares of Serve Robotics stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $7.24, for a total value of $115,007.40. Following the sale, the chief executive officer directly owned 3,278,091 shares in the company, valued at approximately $23,733,378.84. The trade was a 0.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Touraj Parang sold 4,219 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $7.24, for a total value of $30,545.56. Following the transaction, the chief operating officer owned 1,298,244 shares in the company, valued at approximately $9,399,286.56. This represents a 0.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Cantor Fitzgerald lowered 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. Guggenheim assumed coverage on Serve Robotics in a report on Monday, April 20th. They set a “buy” rating and a $13.00 target price on the stock. Freedom Capital cut Serve Robotics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. LADENBURG THALM/SH SH boosted their target price on Serve Robotics from $15.00 to $16.60 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings cut Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.51.

Serve Robotics Stock Performance

The stock has a market cap of $538.88 million, a PE ratio of -3.46 and a beta of 0.53. The company’s 50-day moving average price is $8.75 and its 200 day moving average price is $10.13.

Serve Robotics (NASDAQ:SERV) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.08). The firm had revenue of $2.98 million for the quarter, compared to analysts’ expectations of $2.83 million. Serve Robotics had a negative net margin of 2,639.98% and a negative return on equity of 47.31%. As a group, equities research analysts predict that Serve Robotics Inc. will post -2.64 earnings per share for the current fiscal year.

Institutional Trading of Serve Robotics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Serve Robotics by 25.2% in the third quarter. Vanguard Group Inc. now owns 2,594,869 shares of the company’s stock valued at $30,178,000 after purchasing an additional 521,945 shares during the period. Geode Capital Management LLC raised its position in Serve Robotics by 29.1% in the fourth quarter. Geode Capital Management LLC now owns 1,457,965 shares of the company’s stock valued at $15,137,000 after purchasing an additional 328,405 shares during the period. Exchange Traded Concepts LLC raised its position in Serve Robotics by 12.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,247,559 shares of the company’s stock valued at $12,950,000 after purchasing an additional 138,558 shares during the period. State Street Corp raised its position in Serve Robotics by 29.5% in the fourth quarter. State Street Corp now owns 1,245,411 shares of the company’s stock valued at $12,927,000 after purchasing an additional 283,497 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Serve Robotics by 34.5% during the fourth quarter. First Trust Advisors LP now owns 1,022,459 shares of the company’s stock worth $10,613,000 after acquiring an additional 262,348 shares during the period.

About Serve Robotics

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.