Serve Robotics Inc. (NASDAQ:SERV) CFO Sells $12,677.52 in Stock

Serve Robotics Inc. (NASDAQ:SERV) CFO Brian Read sold 1,212 shares of Serve Robotics stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $10.46, for a total value of $12,677.52. Following the sale, the chief financial officer directly owned 396,266 shares of the company’s stock, valued at approximately $4,144,942.36. This trade represents a 0.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, July 1st, Brian Read sold 1,291 shares of Serve Robotics stock. The stock was sold at an average price of $10.83, for a total value of $13,981.53.
• On Monday, June 9th, Brian Read sold 2,000 shares of Serve Robotics stock. The stock was sold at an average price of $12.59, for a total value of $25,180.00.
• On Friday, May 30th, Brian Read sold 1,295 shares of Serve Robotics stock. The stock was sold at an average price of $11.56, for a total value of $14,970.20.
• On Tuesday, May 27th, Brian Read sold 3,000 shares of Serve Robotics stock. The shares were 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 value of $11,520.00.
• On Tuesday, May 13th, Brian Read sold 8,900 shares of Serve Robotics stock. The shares were sold at an average price of $8.95, for a total value 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 value 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 Stock Performance

SERV stock opened at $10.11 on Thursday. Serve Robotics Inc. has a fifty-two week low of $4.66 and a fifty-two week high of $24.35. The business’s 50 day moving average price is $11.30 and its two-hundred day moving average price is $10.57. The company has a market capitalization of $576.34 million, a price-to-earnings ratio of -9.54 and a beta of 0.13.

Hedge Funds Weigh In On Serve Robotics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SERV. Charles Schwab Investment Management Inc. bought a new position in Serve Robotics in the 4th quarter valued at approximately $151,000. Raymond James Financial Inc. bought a new position in shares of Serve Robotics during the 4th quarter valued at $1,978,000. Commonwealth Equity Services LLC purchased a new stake in shares of Serve Robotics in the 4th quarter worth $248,000. LPL Financial LLC purchased a new stake in shares of Serve Robotics in the 4th quarter worth $294,000. Finally, Vanguard Group Inc. increased its stake in Serve Robotics by 74.6% in the 4th quarter. Vanguard Group Inc. now owns 1,274,303 shares of the company’s stock worth $17,203,000 after buying an additional 544,537 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald started coverage on Serve Robotics in a report on Thursday, May 22nd. They set an “overweight” rating on the stock. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus 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.