Key Points
- COO Touraj Parang sold 3,861 shares on April 8 at an average price of $8.62 for $33,281.82, a 0.29% reduction in his stake; the sale was disclosed in an SEC filing and was made to cover tax withholding related to vesting equity awards.
- Parang has made multiple recent sales (Mar 10: 3,922 shares at $9.72; Feb 11: 3,558 at $10.17; Feb 4: 5,998 at $10.33), yet still directly owns 1,312,344 shares, indicating ongoing sell-to-cover activity despite a large remaining position.
- Serve Robotics is unprofitable with a market cap of about $611.6M and a 52-week range of $4.95–$18.64; analysts have a consensus "Buy" rating with an average price target of $18.60.
Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) COO Touraj Parang sold 3,861 shares of the firm's stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $8.62, for a total value of $33,281.82. Following the completion of the sale, the chief operating officer directly owned 1,312,344 shares of the company's stock, valued at $11,312,405.28. This trade represents a 0.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Touraj Parang also recently made the following trade(s):
- On Tuesday, March 10th, Touraj Parang sold 3,922 shares of Serve Robotics stock. The shares were sold at an average price of $9.72, for a total value of $38,121.84.
- On Wednesday, February 11th, Touraj Parang sold 3,558 shares of Serve Robotics stock. The shares were sold at an average price of $10.17, for a total value of $36,184.86.
- On Wednesday, February 4th, Touraj Parang sold 5,998 shares of Serve Robotics stock. The shares were sold at an average price of $10.33, for a total value of $61,959.34.
Serve Robotics Stock Performance
Shares of Serve Robotics stock opened at $8.08 on Friday. Serve Robotics Inc. has a 52 week low of $4.95 and a 52 week high of $18.64. The stock has a 50 day moving average price of $9.45 and a two-hundred day moving average price of $11.31. The stock has a market capitalization of $611.58 million, a PE ratio of -5.08 and a beta of 2.26.
Serve Robotics (NASDAQ:SERV - Get Free Report) last announced its quarterly earnings data on Wednesday, March 11th. The company reported ($0.46) EPS for the quarter, beating analysts' consensus estimates of ($0.49) by $0.03. Serve Robotics had a negative return on equity of 38.54% and a negative net margin of 3,821.98%.The firm had revenue of $0.88 million during the quarter, compared to analysts' expectations of $0.77 million. Research analysts forecast that Serve Robotics Inc. will post -0.98 EPS for the current year.
Wall Street Analysts Forecast Growth
SERV has been the topic of a number of recent research reports. Northland Securities restated an "outperform" rating and issued a $26.00 target price on shares of Serve Robotics in a report on Friday, January 2nd. Freedom Capital upgraded Serve Robotics to a "strong-buy" rating in a report on Wednesday, December 31st. Weiss Ratings restated a "sell (d-)" rating on shares of Serve Robotics in a report on Friday, March 27th. Cantor Fitzgerald dropped their target price on Serve Robotics from $17.00 to $16.00 and set an "overweight" rating on the stock in a report on Tuesday, March 17th. Finally, Oppenheimer initiated coverage on Serve Robotics in a report on Thursday, December 18th. They issued an "outperform" rating and a $20.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $18.60.
Read Our Latest Stock Analysis on SERV
Institutional Trading of Serve Robotics
Hedge funds have recently made changes to their positions in the company. Exchange Traded Concepts LLC raised its stake in shares of Serve Robotics by 12.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,247,559 shares of the company's stock valued at $12,950,000 after buying an additional 138,558 shares during the period. Total Investment Management Inc. bought a new stake in shares of Serve Robotics in the second quarter valued at $76,000. Soviero Asset Management LP bought a new stake in shares of Serve Robotics in the second quarter valued at $400,000. Wedbush Securities Inc. bought a new stake in shares of Serve Robotics in the third quarter valued at $235,000. Finally, Wealthfront Advisers LLC bought a new stake in shares of Serve Robotics in the third quarter valued at $131,000.
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
