Insider Selling: Serve Robotics (NASDAQ:SERV) COO Sells $30,545.56 in Stock

Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang sold 4,219 shares of the firm’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 transaction of $30,545.56. Following the sale, the chief operating officer directly owned 1,298,244 shares in the company, valued at approximately $9,399,286.56. The trade was a 0.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Touraj Parang also recently made the following trade(s):

• On Thursday, May 7th, Touraj Parang sold 3,888 shares of Serve Robotics stock. The stock was sold at an average price of $9.26, for a total transaction of $36,002.88.
• On Wednesday, May 6th, Touraj Parang sold 5,993 shares of Serve Robotics stock. The stock was sold at an average price of $9.29, for a total transaction of $55,674.97.
• On Wednesday, April 8th, Touraj Parang sold 3,861 shares of Serve Robotics stock. The stock was sold at an average price of $8.62, for a total transaction of $33,281.82.

Serve Robotics Trading Down 6.3%

SERV stock opened at $6.97 on Friday. Serve Robotics Inc. has a twelve month low of $6.84 and a twelve month high of $18.64. The company’s 50 day moving average is $8.72 and its two-hundred day moving average is $10.11. The stock has a market cap of $539.29 million, a P/E ratio of -3.47 and a beta of 0.53.

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

Institutional Investors Weigh In On Serve Robotics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE boosted its position in shares of Serve Robotics by 42.3% in the 1st quarter. Bank of America Corp DE now owns 154,849 shares of the company’s stock worth $1,307,000 after buying an additional 46,017 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Serve Robotics by 65.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,274 shares of the company’s stock worth $45,000 after buying an additional 2,082 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in shares of Serve Robotics in the 1st quarter worth about $270,000. Themes Management Co LLC boosted its position in shares of Serve Robotics by 110.0% in the 1st quarter. Themes Management Co LLC now owns 84,703 shares of the company’s stock worth $715,000 after buying an additional 44,377 shares in the last quarter. Finally, Next Capital Management LLC boosted its position in shares of Serve Robotics by 60.9% in the 1st quarter. Next Capital Management LLC now owns 26,425 shares of the company’s stock worth $223,000 after buying an additional 10,000 shares in the last quarter.

Analyst Upgrades and Downgrades

SERV has been the topic of a number of recent research reports. Cantor Fitzgerald cut their target price on shares of Serve Robotics from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Tuesday, March 17th. Guggenheim began coverage on shares of Serve Robotics in a research note on Monday, April 20th. They issued a “buy” rating and a $13.00 price objective on the stock. LADENBURG THALM/SH SH boosted their price objective on shares of Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Weiss Ratings cut shares of Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. Finally, Freedom Capital cut shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Serve Robotics currently has a consensus rating of “Moderate Buy” and an average target price of $17.51.

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.