Brian Read Sells 10,216 Shares of Serve Robotics (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV – Get Free Report) CFO Brian Read sold 10,216 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $9.82, for a total value of $100,321.12. Following the completion of the sale, the chief financial officer directly owned 373,263 shares of the company’s stock, valued at approximately $3,665,442.66. This trade represents a 2.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Brian Read also recently made the following trade(s):

• On Tuesday, August 5th, Brian Read sold 2,592 shares of Serve Robotics stock. The stock was sold at an average price of $10.64, for a total value of $27,578.88.
• On Wednesday, July 30th, Brian Read sold 1,212 shares of Serve Robotics stock. The stock was sold at an average price of $10.46, for a total value of $12,677.52.
• On Tuesday, July 1st, Brian Read sold 1,291 shares of Serve Robotics stock. The stock was sold at an average price of $10.83, for a total value of $13,981.53.
• On Monday, June 9th, Brian Read sold 2,000 shares of Serve Robotics stock. The stock was sold at an average price of $12.59, for a total value of $25,180.00.
• On Friday, May 30th, Brian Read sold 1,295 shares of Serve Robotics stock. The stock was sold at an average price of $11.56, for a total value of $14,970.20.
• On Tuesday, May 27th, Brian Read sold 3,000 shares of Serve Robotics stock. The stock was sold at an average price of $12.15, for a total value of $36,450.00.

Serve Robotics Stock Up 1.3%

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NASDAQ:SERV opened at $9.84 on Tuesday. The company has a market capitalization of $589.22 million, a PE ratio of -8.56 and a beta of -0.11. 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 $10.63 and a 200-day simple moving average of $9.57.

Serve Robotics (NASDAQ:SERV – Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.13). The firm had revenue of $0.64 million for the quarter, compared to analyst estimates of $0.63 million. Serve Robotics had a negative return on equity of 36.47% and a negative net margin of 3,726.00%. As a group, equities analysts anticipate that Serve Robotics Inc. will post -0.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

SERV has been the subject of several research reports. Seaport Res Ptn downgraded Serve Robotics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 11th. Cantor Fitzgerald began coverage on shares of Serve Robotics in a research note on Thursday, May 22nd. They issued an “overweight” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $18.67.

Get Our Latest Stock Report on Serve Robotics

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SERV. Uber Technologies Inc acquired a new position in Serve Robotics in the 4th quarter valued at about $71,534,000. Capital Fund Management S.A. purchased a new stake in Serve Robotics in the 1st quarter valued at about $4,244,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Serve Robotics by 616.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 679,014 shares of the company’s stock valued at $3,972,000 after buying an additional 584,302 shares during the period. Geode Capital Management LLC grew its holdings in Serve Robotics by 176.0% in the 2nd quarter. Geode Capital Management LLC now owns 878,668 shares of the company’s stock valued at $10,054,000 after buying an additional 560,361 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in Serve Robotics in the 1st quarter valued at about $2,064,000.

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.

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