Touraj Parang Sells 1,365 Shares of Serve Robotics Inc. (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang sold 1,365 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $8.76, for a total value of $11,957.40. Following the sale, the chief operating officer now owns 1,200,956 shares of the company’s stock, valued at $10,520,374.56. The trade was a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Touraj Parang also recently made the following trade(s):

• On Thursday, November 21st, Touraj Parang sold 245 shares of Serve Robotics stock. The stock was sold at an average price of $8.84, for a total value of $2,165.80.

Serve Robotics Stock Performance

NASDAQ:SERV opened at $8.59 on Friday. The stock’s 50-day moving average is $9.03 and its 200-day moving average is $7.29. Serve Robotics Inc. has a 1-year low of $1.77 and a 1-year high of $24.09.

Institutional Investors Weigh In On Serve Robotics

Several hedge funds have recently added to or reduced their stakes in the business. Yong Rong HK Asset Management Ltd bought a new position in shares of Serve Robotics during the third quarter valued at $9,636,000. Thomist Capital Management LP bought a new position in Serve Robotics during the 2nd quarter worth $407,000. Geode Capital Management LLC lifted its holdings in Serve Robotics by 128.1% during the 3rd quarter. Geode Capital Management LLC now owns 130,853 shares of the company’s stock worth $1,041,000 after buying an additional 73,496 shares during the period. PFG Investments LLC bought a new stake in shares of Serve Robotics in the 2nd quarter valued at about $110,000. Finally, State Street Corp acquired a new stake in shares of Serve Robotics in the third quarter valued at about $333,000.

Analysts Set New Price Targets

A number of research firms have issued reports on SERV. LADENBURG THALM/SH SH started coverage on Serve Robotics in a research report on Monday, October 28th. They issued a “buy” rating and a $16.00 target price on the stock. Northland Securities started coverage on shares of Serve Robotics in a research report on Friday, October 18th. They set an “outperform” rating and a $16.00 price objective for the company. Northland Capmk raised shares of Serve Robotics to a “strong-buy” rating in a research note on Friday, October 18th. Finally, Seaport Res Ptn raised shares of Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Strong Buy” and an average price target of $16.00.

About Serve Robotics

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.