Serve Robotics Inc. (NASDAQ:SERV – Get Free Report) COO Touraj Parang sold 4,219 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer directly owned 1,298,244 shares in the company, valued at $9,399,286.56. The trade was a 0.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 Up 6.6%
Shares of SERV opened at $7.44 on Friday. The stock has a market cap of $575.63 million, a P/E ratio of -3.70 and a beta of 0.53. The company has a 50-day moving average of $8.75 and a two-hundred day moving average of $10.13. Serve Robotics Inc. has a 12-month low of $6.84 and a 12-month high of $18.64.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. Main Management ETF Advisors LLC grew its holdings in Serve Robotics by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 166,779 shares of the company’s stock worth $1,731,000 after acquiring an additional 1,704 shares in the last quarter. Creative Planning grew its holdings in Serve Robotics by 14.5% during the 3rd quarter. Creative Planning now owns 14,800 shares of the company’s stock worth $172,000 after acquiring an additional 1,877 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Serve Robotics by 38.0% in the 4th quarter. Russell Investments Group Ltd. now owns 7,003 shares of the company’s stock worth $73,000 after buying an additional 1,927 shares during the last quarter. Thoroughbred Financial Services LLC lifted its position in shares of Serve Robotics by 9.0% in the 3rd quarter. Thoroughbred Financial Services LLC now owns 24,250 shares of the company’s stock worth $282,000 after buying an additional 2,000 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted 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 during the last quarter.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on the stock. Guggenheim initiated coverage on shares of Serve Robotics in a research report on Monday, April 20th. They issued a “buy” rating and a $13.00 price objective for the company. LADENBURG THALM/SH SH boosted their price objective on shares of Serve Robotics from $15.00 to $16.60 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Freedom Capital downgraded shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Cantor Fitzgerald decreased their price objective on shares of Serve Robotics from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Tuesday, March 17th. Finally, Weiss Ratings lowered Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Serve Robotics currently has an average rating of “Moderate Buy” and an average price target of $17.51.
Get Our Latest Stock Analysis on Serve Robotics
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.
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