Serve Robotics (NASDAQ:SERV) COO Touraj Parang Sells 37,993 Shares

Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang sold 37,993 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $4.55, for a total transaction of $172,868.15. Following the sale, the chief operating officer owned 1,260,251 shares of the company’s stock, valued at $5,734,142.05. This trade represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 Wednesday, June 10th, Touraj Parang sold 4,219 shares of Serve Robotics stock. The shares were sold at an average price of $7.24, for a total value of $30,545.56.

Serve Robotics Trading Up 5.1%

NASDAQ:SERV opened at $4.78 on Thursday. The stock has a 50 day simple moving average of $5.72 and a 200 day simple moving average of $7.96. The stock has a market cap of $414.47 million, a P/E ratio of -1.95 and a beta of 1.34. Serve Robotics Inc. has a 1-year low of $4.32 and a 1-year high of $18.64.

Serve Robotics (NASDAQ:SERV) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.11). Serve Robotics had a negative return on equity of 55.34% and a negative net margin of 2,315.80%.The firm had revenue of $3.24 million for the quarter, compared to the consensus estimate of $3.51 million. As a group, sell-side analysts forecast that Serve Robotics Inc. will post -2.71 EPS for the current year.

Analysts Set New Price Targets

SERV has been the topic of several recent research reports. Guggenheim lowered their target price on shares of Serve Robotics from $13.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Weiss Ratings upgraded Serve Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 21st. LADENBURG THALM/SH SH lifted their price objective on Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a report on Wednesday, May 13th. Cantor Fitzgerald downgraded Serve Robotics from an “overweight” rating to a “neutral” rating in a research report on Friday, August 7th. Finally, Freedom Capital raised Serve Robotics from a “hold” rating to a “strong-buy” rating in a report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $14.80.

Serve Robotics News Roundup

Here are the key news stories impacting Serve Robotics this week:

• Positive Sentiment: Serve Robotics announced that it will deploy autonomous delivery robots through Grubhub, giving the company another commercial distribution channel and potentially expanding robot utilization. Serve Robotics to deploy its autonomous delivery robots with Grubhub
• Neutral Sentiment: The broader rollout of delivery robots suggests continued growth potential for the autonomous delivery market, but increased competition and the need to prove sustainable demand remain important risks for Serve Robotics. More delivery robots are heading to sidewalks near you
• Negative Sentiment: Investor reaction has focused on Serve Robotics cutting its guidance, with the negative outlook overshadowing enthusiasm about the Grubhub deal. The company also lost its Uber Eats relationship, increasing uncertainty around customer growth and near-term revenue. Serve Robotics Sinks as Guidance Cut Overshadows Grubhub Deal Serve Robotics Turns to Grubhub After Losing Uber Eats Deal
• Negative Sentiment: CEO Ali Kashani, executive Touraj Parang and CFO Brian Read reported multiple stock sales totaling roughly 124,000 shares during August. The filings state the transactions were used to cover tax withholding tied to vested restricted stock units, and the executives retained substantial holdings; nevertheless, the cluster of sales can create a negative short-term sentiment signal. Serve Robotics CEO Sells Shares to Cover RSU Tax Withholding Serve Robotics Executive Executes Two Stock Sales

Institutional Investors Weigh In On Serve Robotics

Several institutional investors and hedge funds have recently added to or reduced their stakes in SERV. Legal & General Group Plc acquired a new position in shares of Serve Robotics during the 2nd quarter worth $8,410,000. BlackRock Inc. boosted its stake in Serve Robotics by 24.5% in the second quarter. BlackRock Inc. now owns 6,040,854 shares of the company’s stock valued at $39,749,000 after buying an additional 1,190,622 shares in the last quarter. First Trust Advisors LP bought a new position in Serve Robotics in the third quarter valued at about $8,840,000. Vanguard Group Inc. grew its position in 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 acquiring an additional 521,945 shares during the last quarter. Finally, Creek Drive Management Group LLC acquired a new position in Serve Robotics during the fourth quarter worth about $4,912,000.

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.