Insider Selling: Serve Robotics Inc. (NASDAQ:SERV) CEO Sells 37,500 Shares of Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 37,500 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $21.16, for a total value of $793,500.00. Following the sale, the chief executive officer now owns 3,230,990 shares of the company’s stock, valued at approximately $68,367,748.40. This represents a 1.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, January 3rd, Ali Kashani sold 7,500 shares of Serve Robotics stock. The stock was sold at an average price of $17.23, for a total transaction of $129,225.00.
• On Thursday, December 26th, Ali Kashani sold 7,500 shares of Serve Robotics stock. The shares were sold at an average price of $16.50, for a total value of $123,750.00.
• On Tuesday, December 24th, Ali Kashani sold 5,000 shares of Serve Robotics stock. The stock was sold at an average price of $14.55, for a total value of $72,750.00.
• On Friday, December 20th, Ali Kashani sold 2,500 shares of Serve Robotics stock. The stock was sold at an average price of $14.70, for a total transaction of $36,750.00.
• On Wednesday, December 18th, Ali Kashani sold 1,008 shares of Serve Robotics stock. The shares were sold at an average price of $16.05, for a total transaction of $16,178.40.
• On Monday, December 16th, Ali Kashani sold 22,500 shares of Serve Robotics stock. The shares were sold at an average price of $14.93, for a total value of $335,925.00.
• On Friday, December 13th, Ali Kashani sold 2,500 shares of Serve Robotics stock. The stock was sold at an average price of $12.48, for a total transaction of $31,200.00.
• On Monday, December 9th, Ali Kashani sold 2,500 shares of Serve Robotics stock. The shares were sold at an average price of $13.52, for a total value of $33,800.00.
• On Friday, December 6th, Ali Kashani sold 31,791 shares of Serve Robotics stock. The stock was sold at an average price of $11.39, for a total transaction of $362,099.49.
• On Monday, November 25th, Ali Kashani sold 9,719 shares of Serve Robotics stock. The stock was sold at an average price of $8.77, for a total value of $85,235.63.

Serve Robotics Trading Down 9.7 %

Shares of Serve Robotics stock opened at $16.80 on Friday. The company’s fifty day simple moving average is $11.99 and its 200-day simple moving average is $9.65. Serve Robotics Inc. has a 1-year low of $1.77 and a 1-year high of $24.35.

Institutional Trading of Serve Robotics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC bought a new stake in shares of Serve Robotics during the 3rd quarter valued at $26,000. Bfsg LLC purchased a new stake in shares of Serve Robotics in the third quarter worth about $38,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Serve Robotics during the 3rd quarter valued at approximately $68,000. Quantum Private Wealth LLC purchased a new stake in shares of Serve Robotics during the 3rd quarter valued at about $80,000. Finally, PFG Investments LLC purchased a new position in shares of Serve Robotics in the 2nd quarter worth approximately $110,000.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SERV shares. Northland Capmk upgraded shares of Serve Robotics to a “strong-buy” rating in a research report on Friday, October 18th. Northland Securities initiated coverage on Serve Robotics in a report on Friday, October 18th. They set an “outperform” rating and a $16.00 price target for the company. Seaport Res Ptn raised Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Serve Robotics in a report on Monday, October 28th. They set a “buy” rating and a $16.00 price objective for the company. Two research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Strong Buy” and a consensus 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.