Touraj Parang Sells 4,219 Shares of Serve Robotics (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang sold 4,219 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $7.24, for a total value of $30,545.56. Following the completion of the transaction, the chief operating officer owned 1,298,244 shares in the company, valued at approximately $9,399,286.56. This trade represents a 0.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 Thursday, May 7th, Touraj Parang sold 3,888 shares of Serve Robotics stock. The shares were sold at an average price of $9.26, for a total value of $36,002.88.
• On Wednesday, May 6th, Touraj Parang sold 5,993 shares of Serve Robotics stock. The shares were sold at an average price of $9.29, for a total value of $55,674.97.
• On Wednesday, April 8th, Touraj Parang sold 3,861 shares of Serve Robotics stock. The shares were sold at an average price of $8.62, for a total value of $33,281.82.

Serve Robotics Price Performance

NASDAQ SERV 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 stock’s 50 day simple moving average is $8.72 and its 200-day simple moving average is $10.11. Serve Robotics Inc. has a 1-year low of $6.84 and a 1-year high of $18.64.

Serve Robotics (NASDAQ:SERV) last released its earnings results on Thursday, May 7th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.08). The firm had revenue of $2.98 million during the quarter, compared to analysts’ expectations 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, equities research analysts anticipate that Serve Robotics Inc. will post -2.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Serve Robotics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Main Management ETF Advisors LLC raised its position in Serve Robotics by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 166,779 shares of the company’s stock valued at $1,731,000 after purchasing an additional 1,704 shares during the period. Creative Planning raised its position in Serve Robotics by 14.5% in the third quarter. Creative Planning now owns 14,800 shares of the company’s stock valued at $172,000 after purchasing an additional 1,877 shares during the period. Russell Investments Group Ltd. raised its position in Serve Robotics by 38.0% in the fourth quarter. Russell Investments Group Ltd. now owns 7,003 shares of the company’s stock valued at $73,000 after purchasing an additional 1,927 shares during the period. Thoroughbred Financial Services LLC raised its position in Serve Robotics by 9.0% in the third quarter. Thoroughbred Financial Services LLC now owns 24,250 shares of the company’s stock valued at $282,000 after purchasing an additional 2,000 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Serve Robotics by 65.2% in the first quarter. EverSource Wealth Advisors LLC now owns 5,274 shares of the company’s stock valued at $45,000 after purchasing an additional 2,082 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SERV shares. Guggenheim assumed coverage on Serve Robotics in a research report on Monday, April 20th. They issued a “buy” rating and a $13.00 target price on the stock. Freedom Capital cut Serve Robotics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. LADENBURG THALM/SH SH increased their price target on Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a report on Wednesday, May 13th. Weiss Ratings cut Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. Finally, Cantor Fitzgerald cut their price target on Serve Robotics from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Tuesday, March 17th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.