Legal & General Group Plc Increases Stock Holdings in Serve Robotics Inc. $SERV

Legal & General Group Plc increased its holdings in Serve Robotics Inc. (NASDAQ:SERV) by 11.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 839,933 shares of the company’s stock after acquiring an additional 88,099 shares during the quarter. Legal & General Group Plc owned about 1.13% of Serve Robotics worth $8,864,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Creative Planning lifted its stake in Serve Robotics by 14.5% in the third quarter. Creative Planning now owns 14,800 shares of the company’s stock worth $172,000 after acquiring an additional 1,877 shares during the period. Thoroughbred Financial Services LLC lifted its position in Serve Robotics by 9.0% during the third quarter. Thoroughbred Financial Services LLC now owns 24,250 shares of the company’s stock valued at $282,000 after buying an additional 2,000 shares during the period. EverSource Wealth Advisors LLC lifted its position in Serve Robotics by 299.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company’s stock valued at $33,000 after buying an additional 2,392 shares during the period. SBI Securities Co. Ltd. lifted its position in Serve Robotics by 166.8% during the third quarter. SBI Securities Co. Ltd. now owns 4,218 shares of the company’s stock valued at $49,000 after buying an additional 2,637 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its position in Serve Robotics by 19.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 16,350 shares of the company’s stock valued at $170,000 after buying an additional 2,650 shares during the period.

Serve Robotics Stock Up 2.1%

Serve Robotics stock opened at $8.41 on Friday. The business has a 50-day simple moving average of $8.87 and a two-hundred day simple moving average of $10.19. The company has a market cap of $650.71 million, a P/E ratio of -4.18 and a beta of 0.53. Serve Robotics Inc. has a 52-week low of $7.66 and a 52-week high of $18.64.

Serve Robotics (NASDAQ:SERV) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.08). Serve Robotics had a negative net margin of 2,639.98% and a negative return on equity of 47.31%. The firm had revenue of $2.98 million for the quarter, compared to the consensus estimate of $2.83 million. Research analysts anticipate that Serve Robotics Inc. will post -2.64 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Ali Kashani sold 14,644 shares of Serve Robotics stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $9.26, for a total transaction of $135,603.44. Following the transaction, the chief executive officer directly owned 3,293,976 shares of the company’s stock, valued at $30,502,217.76. The trade was a 0.44% decrease in their position. The transaction was disclosed in a 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. Also, COO Touraj Parang sold 5,993 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $9.29, for a total value of $55,674.97. Following the completion of the transaction, the chief operating officer directly owned 1,306,351 shares in the company, valued at approximately $12,136,000.79. This represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 81,632 shares of company stock valued at $755,403 in the last 90 days. Corporate insiders own 5.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on SERV. LADENBURG THALM/SH SH raised their price objective on Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Weiss Ratings lowered Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. Freedom Capital lowered Serve Robotics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Cantor Fitzgerald lowered their price objective on Serve Robotics from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Tuesday, March 17th. Finally, Guggenheim began coverage on Serve Robotics in a research report on Monday, April 20th. They set a “buy” rating and a $13.00 price objective for the company. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued 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.

Serve Robotics Profile

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.