Key Points
- CFO Brian Read sold 7,500 shares on Dec. 4 at an average price of $13.05 for $97,875, leaving him with 344,270 shares (about a 2.13% reduction) valued at roughly $4.49 million.
- This sale is part of a string of recent insider dispositions by Read — including multiple trades in September–December — totaling about 27,663 shares sold across those transactions.
- Serve Robotics stock was up 3.2% on the report, with a market cap near $1.0 billion, a 52‑week range of $4.66–$24.35, negative earnings and an extreme negative net margin, while analysts hold a consensus “Moderate Buy” with an average target of $19.33.
Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) CFO Brian Read sold 7,500 shares of the firm's stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $13.05, for a total transaction of $97,875.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Brian Read also recently made the following trade(s):
- On Tuesday, December 2nd, Brian Read sold 2,057 shares of Serve Robotics stock. The shares were sold at an average price of $9.82, for a total transaction 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 transaction of $16,916.40.
- On Tuesday, October 7th, Brian Read sold 176 shares of Serve Robotics stock. The stock was sold at an average price of $15.29, for a total value of $2,691.04.
- On Tuesday, September 30th, Brian Read sold 1,225 shares of Serve Robotics stock. The shares were sold at an average price of $11.70, for a total value of $14,332.50.
- On Thursday, September 18th, Brian Read sold 3,941 shares of Serve Robotics stock. The shares were sold at an average price of $12.70, for a total value of $50,050.70.
- On Thursday, September 11th, Brian Read sold 4,319 shares of Serve Robotics stock. The stock was sold at an average price of $11.54, for a total value 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 value of $74,907.00.
Serve Robotics Stock Up 3.2%
Shares of SERV opened at $13.42 on Friday. Serve Robotics Inc. has a 52-week low of $4.66 and a 52-week high of $24.35. The stock has a fifty day simple moving average of $12.27 and a two-hundred day simple moving average of $11.51. The company has a market capitalization of $999.56 million, a PE ratio of -9.01 and a beta of -0.14.
Serve Robotics (NASDAQ:SERV - Get Free Report) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.17). Serve Robotics had a negative net margin of 4,121.58% and a negative return on equity of 38.52%. The firm had revenue of $0.69 million for the quarter, compared to analyst estimates of $0.69 million. As a group, equities analysts anticipate that Serve Robotics Inc. will post -0.98 earnings per share for the current fiscal year.
Institutional Trading of Serve Robotics
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SERV. Vontobel Holding Ltd. lifted its stake in Serve Robotics by 6.7% during 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 in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Serve Robotics by 13.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 12,728 shares of the company's stock valued at $73,000 after buying an additional 1,545 shares in the last quarter. Creative Planning raised its holdings 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 buying an additional 1,877 shares during the period. Phoenix Financial Ltd. lifted its stake in 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 acquiring an additional 2,000 shares in the last quarter. Finally, Thoroughbred Financial Services LLC boosted its holdings in Serve Robotics by 9.0% during the 3rd quarter. Thoroughbred Financial Services LLC now owns 24,250 shares of the company's stock valued at $282,000 after acquiring an additional 2,000 shares during the period.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on SERV. Wedbush initiated coverage on shares of Serve Robotics in a research note on Wednesday, August 27th. They issued an "outperform" rating and a $15.00 price target for the company. Citigroup reiterated an "outperform" rating on shares of Serve Robotics in a report on Monday, October 13th. Cantor Fitzgerald reissued an "overweight" rating on shares of Serve Robotics in a research note on Monday, November 17th. Northland Securities set a $26.00 price target on Serve Robotics in a research note on Monday, October 13th. Finally, Singular Research upgraded Serve Robotics to a "moderate buy" rating in a report on Tuesday, August 26th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $19.33.
Read Our Latest Stock Report on Serve Robotics
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.
Further Reading
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