Serve Robotics (NASDAQ:SERV) Stock Price Down 2.5% on Insider Selling

Serve Robotics Inc. (NASDAQ:SERV) shares fell 2.5% during mid-day trading on Monday following insider selling activity. The company traded as low as $13.90 and last traded at $14.34. 6,540,820 shares changed hands during trading, a decline of 41% from the average session volume of 11,125,749 shares. The stock had previously closed at $14.71.

Specifically, CEO Ali Kashani sold 9,088 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $14.30, for a total value of $129,958.40. Following the completion of the sale, the chief executive officer owned 3,365,774 shares of the company’s stock, valued at approximately $48,130,568.20. This trade represents a 0.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Touraj Parang sold 4,008 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $14.30, for a total value of $57,314.40. Following the completion of the transaction, the chief operating officer owned 1,329,683 shares in the company, valued at approximately $19,014,466.90. This represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In other Serve Robotics news, CFO Brian Read sold 4,748 shares of the business’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $15.81, for a total transaction of $75,065.88. Following the completion of the sale, the chief financial officer owned 330,588 shares in the company, valued at approximately $5,226,596.28. The trade was a 1.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Northland Securities reaffirmed an “outperform” rating and issued a $26.00 price objective on shares of Serve Robotics in a research note on Friday, January 2nd. Oppenheimer started coverage on shares of Serve Robotics in a research report on Thursday, December 18th. They issued an “outperform” rating and a $20.00 price target on the stock. Loop Capital set a $16.00 price objective on Serve Robotics in a report on Wednesday, December 31st. Citigroup reissued an “outperform” rating on shares of Serve Robotics in a research note on Monday, October 13th. Finally, Freedom Capital raised Serve Robotics to a “strong-buy” rating in a research report on Wednesday, December 31st. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Serve Robotics has an average rating of “Moderate Buy” and a consensus price target of $18.80.

Serve Robotics Stock Performance

The company’s 50 day simple moving average is $11.09 and its 200 day simple moving average is $11.58. The stock has a market cap of $1.07 billion, a PE ratio of -9.68 and a beta of 0.27.

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

Institutional Investors Weigh In On Serve Robotics

Several large investors have recently added to or reduced their stakes in SERV. Vanguard Group Inc. boosted its holdings in Serve Robotics by 25.2% in the 3rd quarter. Vanguard Group Inc. now owns 2,594,869 shares of the company’s stock worth $30,178,000 after buying an additional 521,945 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Serve Robotics by 11.3% during the third quarter. Exchange Traded Concepts LLC now owns 1,109,001 shares of the company’s stock worth $12,898,000 after acquiring an additional 112,718 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Serve Robotics by 176.0% in the second quarter. Geode Capital Management LLC now owns 878,668 shares of the company’s stock worth $10,054,000 after acquiring an additional 560,361 shares during the period. First Trust Advisors LP bought a new position in shares of Serve Robotics in the third quarter worth $8,840,000. Finally, Legal & General Group Plc grew its position in shares of Serve Robotics by 8.3% in the third quarter. Legal & General Group Plc now owns 751,834 shares of the company’s stock valued at $8,816,000 after purchasing an additional 57,905 shares in the last quarter.

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.