Insider Selling: Serve Robotics (NASDAQ:SERV) CFO Sells 7,500 Shares of Stock

by · The Cerbat Gem

Serve Robotics Inc. (NASDAQ:SERV – Get Free Report) CFO Brian Read sold 7,500 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $13.05, for a total value of $97,875.00. Following the completion of the sale, the chief financial officer directly owned 344,270 shares in the company, valued at approximately $4,492,723.50. This represents a 2.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

  • On Tuesday, December 2nd, Brian Read sold 2,057 shares of Serve Robotics stock. The stock was sold at an average price of $9.82, for a total value of $20,199.74.
  • On Thursday, October 30th, Brian Read sold 1,270 shares of Serve Robotics stock. The shares were sold at an average price of $13.32, for a total value of $16,916.40.
  • On Tuesday, October 7th, Brian Read sold 176 shares of Serve Robotics stock. The shares were sold at an average price of $15.29, for a total transaction of $2,691.04.
  • On Tuesday, September 30th, Brian Read sold 1,225 shares of Serve Robotics stock. The stock was sold at an average price of $11.70, for a total transaction of $14,332.50.
  • On Thursday, September 18th, Brian Read sold 3,941 shares of Serve Robotics stock. The stock was sold at an average price of $12.70, for a total transaction of $50,050.70.
  • On Thursday, September 11th, Brian Read sold 4,319 shares of Serve Robotics stock. The shares were sold at an average price of $11.54, for a total transaction of $49,841.26.
  • On Monday, September 8th, Brian Read sold 7,175 shares of Serve Robotics stock. The shares were sold at an average price of $10.44, for a total transaction of $74,907.00.

Serve Robotics Stock Performance

Serve Robotics stock traded up $0.42 during trading hours on Friday, hitting $13.42. 13,538,911 shares of the stock were exchanged, compared to its average volume of 8,123,743. The stock has a market capitalization of $999.52 million, a P/E ratio of -9.01 and a beta of -0.14. The business’s 50-day moving average is $12.24 and its two-hundred day moving average is $11.49. Serve Robotics Inc. has a 12 month low of $4.66 and a 12 month high of $24.35.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on SERV shares. Wedbush started coverage on Serve Robotics in a research note on Wednesday, August 27th. They issued an “outperform” rating and a $15.00 price objective on the stock. Singular Research raised Serve Robotics to a “moderate buy” rating in a report on Tuesday, August 26th. Citigroup reiterated an “outperform” rating on shares of Serve Robotics in a research report on Monday, October 13th. Cantor Fitzgerald restated an “overweight” rating on shares of Serve Robotics in a research report on Monday, November 17th. Finally, Seaport Res Ptn downgraded shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 11th. Four 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.33.

View Our Latest Report on SERV

Hedge Funds Weigh In On Serve Robotics

Several large investors have recently made changes to their positions in SERV. Vontobel Holding Ltd. increased its position in Serve Robotics by 6.7% in the third quarter. Vontobel Holding Ltd. now owns 22,427 shares of the company’s stock worth $261,000 after purchasing an additional 1,417 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Serve Robotics by 13.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,728 shares of the company’s stock valued at $73,000 after purchasing an additional 1,545 shares during the period. Creative Planning boosted its stake in shares of Serve Robotics by 14.5% in the 3rd quarter. Creative Planning now owns 14,800 shares of the company’s stock valued at $172,000 after purchasing an additional 1,877 shares during the last quarter. Phoenix Financial Ltd. grew its position in shares of Serve Robotics by 13.3% during the 3rd quarter. Phoenix Financial Ltd. now owns 17,000 shares of the company’s stock worth $198,000 after buying an additional 2,000 shares during the period. Finally, Thoroughbred Financial Services LLC grew its position in shares of Serve Robotics by 9.0% during 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 period.

About Serve Robotics

(Get Free Report)

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.

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