Insider Selling: Serve Robotics (NASDAQ:SERV) CEO Sells 9,088 Shares of Stock

by · The Cerbat Gem

Serve Robotics Inc. (NASDAQ:SERV – Get Free Report) CEO Ali Kashani sold 9,088 shares of the firm’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $14.30, for a total transaction of $129,958.40. Following the completion of the transaction, the chief executive officer directly owned 3,365,774 shares in the company, valued at approximately $48,130,568.20. This represents a 0.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Ali Kashani also recently made the following trade(s):

  • On Thursday, December 11th, Ali Kashani sold 16,730 shares of Serve Robotics stock. The stock was sold at an average price of $11.87, for a total transaction of $198,585.10.
  • On Thursday, November 6th, Ali Kashani sold 16,170 shares of Serve Robotics stock. The shares were sold at an average price of $10.78, for a total value of $174,312.60.
  • On Wednesday, November 5th, Ali Kashani sold 13,310 shares of Serve Robotics stock. The stock was sold at an average price of $11.63, for a total value of $154,795.30.

Serve Robotics Stock Performance

Shares of SERV stock traded down $0.70 during trading hours on Friday, reaching $14.71. The company had a trading volume of 12,323,945 shares, compared to its average volume of 11,877,606. The company has a market capitalization of $1.10 billion, a P/E ratio of -9.87 and a beta of 0.27. Serve Robotics Inc. has a twelve month low of $4.66 and a twelve month high of $23.10. The stock’s fifty day simple moving average is $10.98 and its 200 day simple moving average is $11.50.

Serve Robotics (NASDAQ:SERV – Get Free Report) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.17). The company had revenue of $0.69 million during the quarter, compared to analysts’ expectations of $0.69 million. Serve Robotics had a negative return on equity of 38.52% and a negative net margin of 4,121.58%. As a group, equities analysts expect that Serve Robotics Inc. will post -0.98 earnings per share for the current year.

Institutional Investors Weigh In On Serve Robotics

Institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC bought a new position in Serve Robotics in the third quarter worth about $27,000. Allworth Financial LP boosted its position in Serve Robotics by 316.7% during the 2nd quarter. Allworth Financial LP now owns 3,900 shares of the company’s stock valued at $45,000 after purchasing an additional 2,964 shares during the period. SBI Securities Co. Ltd. grew its stake in Serve Robotics by 166.8% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,218 shares of the company’s stock worth $49,000 after buying an additional 2,637 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Serve Robotics in the second quarter worth $55,000. Finally, Russell Investments Group Ltd. bought a new stake in Serve Robotics in the third quarter valued at $59,000.

Wall Street Analysts Forecast Growth

SERV has been the topic of a number of analyst reports. LADENBURG THALM/SH SH raised Serve Robotics to a “strong-buy” rating in a research report on Thursday, December 18th. Northland Securities restated an “outperform” rating and set a $26.00 price objective on shares of Serve Robotics in a report on Friday, January 2nd. Citigroup reiterated an “outperform” rating on shares of Serve Robotics in a research note on Monday, October 13th. Loop Capital set a $16.00 price target on shares of Serve Robotics in a research note on Wednesday, December 31st. Finally, Oppenheimer started coverage on shares of Serve Robotics in a research note on Thursday, December 18th. They set an “outperform” rating and a $20.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.80.

Get Our Latest Research Report on SERV

About Serve Robotics

(Get Free Report)

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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