Ali Kashani Sells 15,885 Shares of Serve Robotics (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 15,885 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $7.24, for a total value of $115,007.40. Following the completion of the transaction, the chief executive officer directly owned 3,278,091 shares of the company’s stock, valued at approximately $23,733,378.84. This trade represents a 0.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ali Kashani also recently made the following trade(s):

• On Thursday, May 7th, Ali Kashani sold 14,644 shares of Serve Robotics stock. The shares were sold at an average price of $9.26, for a total value of $135,603.44.
• On Wednesday, May 6th, Ali Kashani sold 11,753 shares of Serve Robotics stock. The shares were sold at an average price of $9.29, for a total value of $109,185.37.
• On Wednesday, April 8th, Ali Kashani sold 14,541 shares of Serve Robotics stock. The shares were sold at an average price of $8.62, for a total value of $125,343.42.

Serve Robotics Stock Down 6.3%

SERV stock opened at $6.97 on Friday. The company has a market cap of $539.27 million, a PE ratio of -3.47 and a beta of 0.53. The business has a 50-day simple moving average of $8.72 and a 200 day simple moving average of $10.11. Serve Robotics Inc. has a 52 week low of $6.84 and a 52 week high of $18.64.

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

Institutional Trading of Serve Robotics

Hedge funds have recently made changes to their positions in the company. First Trust Advisors LP acquired a new position in shares of Serve Robotics in the third quarter valued at approximately $8,840,000. Vanguard Group Inc. increased its stake in shares of Serve Robotics by 25.2% in the third quarter. Vanguard Group Inc. now owns 2,594,869 shares of the company’s stock valued at $30,178,000 after buying an additional 521,945 shares during the period. Creek Drive Management Group LLC acquired a new position in shares of Serve Robotics in the fourth quarter valued at approximately $4,912,000. Geode Capital Management LLC increased its stake in shares of Serve Robotics by 29.1% in the fourth quarter. Geode Capital Management LLC now owns 1,457,965 shares of the company’s stock valued at $15,137,000 after buying an additional 328,405 shares during the period. Finally, Grange Capital LLC acquired a new position in shares of Serve Robotics in the first quarter valued at approximately $2,426,000.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Weiss Ratings downgraded Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. LADENBURG THALM/SH SH boosted their target price on Serve Robotics from $15.00 to $16.60 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Guggenheim assumed coverage on Serve Robotics in a research note on Monday, April 20th. They set a “buy” rating and a $13.00 target price for the company. Cantor Fitzgerald lowered their target price on Serve Robotics from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Tuesday, March 17th. Finally, Freedom Capital downgraded Serve Robotics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Serve Robotics has an average rating of “Moderate Buy” and an average target price of $17.51.

About Serve Robotics

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.