Key Points
- CFO Brian Read sold 1,268 shares on March 3 at $9.61 each for $12,185.48, leaving him with 324,403 shares valued at about $3.12 million (a 0.39% reduction).
- The March sale is part of a string of insider dispositions since December — including large blocks on Dec. 4 (7,500 shares), Dec. 12 (6,700), and Jan. 8 (4,748) — signaling a pattern of ongoing selling by the CFO.
- Serve Robotics shares traded at $9.40 (down $0.44) with a market cap near $700 million; analysts' consensus is a Buy rating with a consensus price target of $18.80.
Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) CFO Brian Read sold 1,268 shares of the firm's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $9.61, for a total transaction of $12,185.48. Following the completion of the transaction, the chief financial officer directly owned 324,403 shares in the company, valued at $3,117,512.83. This represents a 0.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Brian Read also recently made the following trade(s):
- On Wednesday, February 11th, Brian Read sold 185 shares of Serve Robotics stock. The shares were sold at an average price of $10.17, for a total transaction of $1,881.45.
- On Wednesday, February 4th, Brian Read sold 3,185 shares of Serve Robotics stock. The stock was sold at an average price of $10.33, for a total transaction of $32,901.05.
- On Tuesday, February 3rd, Brian Read sold 1,547 shares of Serve Robotics stock. The shares were sold at an average price of $10.83, for a total transaction of $16,754.01.
- On Thursday, January 8th, Brian Read sold 4,748 shares of Serve Robotics stock. The shares were sold at an average price of $15.81, for a total value of $75,065.88.
- On Wednesday, December 31st, Brian Read sold 1,863 shares of Serve Robotics stock. The stock was sold at an average price of $10.37, for a total value of $19,319.31.
- On Friday, December 12th, Brian Read sold 6,700 shares of Serve Robotics stock. The stock was sold at an average price of $13.15, for a total transaction of $88,105.00.
- On Thursday, December 11th, Brian Read sold 371 shares of Serve Robotics stock. The shares were sold at an average price of $11.87, for a total transaction of $4,403.77.
- On Thursday, December 4th, Brian Read sold 7,500 shares of Serve Robotics stock. The shares were sold at an average price of $13.05, for a total value of $97,875.00.
Serve Robotics Price Performance
Serve Robotics stock traded down $0.44 during trading hours on Thursday, reaching $9.40. The stock had a trading volume of 2,753,884 shares, compared to its average volume of 5,875,647. The company has a market cap of $700.14 million, a price-to-earnings ratio of -6.31 and a beta of 0.90. The business's 50 day moving average price is $11.39 and its 200-day moving average price is $11.65. Serve Robotics Inc. has a 52 week low of $4.66 and a 52 week high of $18.64.
Analyst Ratings Changes
Several research firms have issued reports on SERV. Oppenheimer assumed coverage on shares of Serve Robotics in a report on Thursday, December 18th. They issued an "outperform" rating and a $20.00 price target on the stock. Northland Securities reissued an "outperform" rating and set a $26.00 price objective on shares of Serve Robotics in a report on Friday, January 2nd. Cantor Fitzgerald reissued an "overweight" rating on shares of Serve Robotics in a research report on Monday, November 17th. Freedom Capital upgraded Serve Robotics to a "strong-buy" rating in a research note on Wednesday, December 31st. Finally, LADENBURG THALM/SH SH raised shares of Serve Robotics to a "strong-buy" rating in a report on Thursday, December 18th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $18.80.
Check Out Our Latest Research Report on Serve Robotics
Hedge Funds Weigh In On Serve Robotics
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its stake in shares of Serve Robotics by 280.4% during the first quarter. Goldman Sachs Group Inc. now owns 297,138 shares of the company's stock worth $1,709,000 after purchasing an additional 219,018 shares in the last quarter. Next Capital Management LLC acquired a new stake in Serve Robotics in the 2nd quarter worth about $188,000. Allworth Financial LP increased its stake in Serve Robotics by 316.7% during the 2nd quarter. Allworth Financial LP now owns 3,900 shares of the company's stock worth $45,000 after buying an additional 2,964 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Serve Robotics by 176.0% during the second quarter. Geode Capital Management LLC now owns 878,668 shares of the company's stock valued at $10,054,000 after acquiring an additional 560,361 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Serve Robotics in the second quarter valued at approximately $126,000.
Serve Robotics Company Profile
(
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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