Serve Robotics Inc. (NASDAQ:SERV – Get Free Report) CFO Brian Read sold 25,240 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $5.24, for a total transaction of $132,257.60. Following the completion of the transaction, the chief financial officer directly owned 291,831 shares in the company, valued at $1,529,194.44. This trade represents a 7.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Brian Read also recently made the following trade(s):
- On Wednesday, August 19th, Brian Read sold 9,700 shares of Serve Robotics stock. The stock was sold at an average price of $4.80, for a total value of $46,560.00.
- On Tuesday, August 18th, Brian Read sold 6,129 shares of Serve Robotics stock. The stock was sold at an average price of $4.56, for a total transaction of $27,948.24.
- On Wednesday, June 10th, Brian Read sold 1,496 shares of Serve Robotics stock. The stock was sold at an average price of $7.24, for a total transaction of $10,831.04.
Serve Robotics Stock Up 5.1%
Shares of SERV stock opened at $4.78 on Thursday. The stock has a market capitalization of $414.47 million, a PE ratio of -1.95 and a beta of 1.34. Serve Robotics Inc. has a 52-week low of $4.32 and a 52-week high of $18.64. The stock’s 50-day moving average price is $5.72 and its 200 day moving average price is $7.96.
Institutional Investors Weigh In On Serve Robotics
Several institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC purchased a new position in Serve Robotics in the 2nd quarter valued at about $26,000. Allworth Financial LP acquired a new position in shares of Serve Robotics in the second quarter worth about $26,000. Gordian Capital Singapore Pte Ltd purchased a new position in Serve Robotics in the fourth quarter valued at about $31,000. Quadrant Capital Group LLC purchased a new position in Serve Robotics in the fourth quarter valued at about $31,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Serve Robotics by 299.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company’s stock valued at $33,000 after purchasing an additional 2,392 shares during the last quarter.
Trending Headlines about Serve Robotics
Here are the key news stories impacting Serve Robotics this week:
- Positive Sentiment: Serve Robotics announced that it will deploy autonomous delivery robots through Grubhub, giving the company another commercial distribution channel and potentially expanding robot utilization. Serve Robotics to deploy its autonomous delivery robots with Grubhub
- Neutral Sentiment: The broader rollout of delivery robots suggests continued growth potential for the autonomous delivery market, but increased competition and the need to prove sustainable demand remain important risks for Serve Robotics. More delivery robots are heading to sidewalks near you
- Negative Sentiment: Investor reaction has focused on Serve Robotics cutting its guidance, with the negative outlook overshadowing enthusiasm about the Grubhub deal. The company also lost its Uber Eats relationship, increasing uncertainty around customer growth and near-term revenue. Serve Robotics Sinks as Guidance Cut Overshadows Grubhub Deal Serve Robotics Turns to Grubhub After Losing Uber Eats Deal
- Negative Sentiment: CEO Ali Kashani, executive Touraj Parang and CFO Brian Read reported multiple stock sales totaling roughly 124,000 shares during August. The filings state the transactions were used to cover tax withholding tied to vested restricted stock units, and the executives retained substantial holdings; nevertheless, the cluster of sales can create a negative short-term sentiment signal. Serve Robotics CEO Sells Shares to Cover RSU Tax Withholding Serve Robotics Executive Executes Two Stock Sales
Analyst Ratings Changes
SERV has been the topic of several analyst reports. Freedom Capital raised shares of Serve Robotics from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 14th. 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 report on Wednesday, May 13th. Oppenheimer decreased their target price on shares of Serve Robotics from $20.00 to $7.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Guggenheim decreased their target price on shares of Serve Robotics from $13.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Finally, Weiss Ratings raised shares of Serve Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Serve Robotics presently has an average rating of “Moderate Buy” and an average price target of $14.80.
View Our Latest Stock Report 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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