Serve Robotics Inc. (NASDAQ:SERV) CEO Sells $335,925.00 in Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 22,500 shares of Serve Robotics stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $14.93, for a total transaction of $335,925.00. Following the sale, the chief executive officer now owns 3,306,998 shares of the company’s stock, valued at approximately $49,373,480.14. This trade represents a 0.68 % decrease in their ownership of the stock. The sale 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 Wednesday, December 18th, Ali Kashani sold 1,008 shares of Serve Robotics stock. The stock was sold at an average price of $16.05, for a total transaction of $16,178.40.
• 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 value 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 value of $362,099.49.
• On Monday, November 25th, Ali Kashani sold 9,719 shares of Serve Robotics stock. The shares were sold at an average price of $8.77, for a total value of $85,235.63.
• On Thursday, November 21st, Ali Kashani sold 1,109 shares of Serve Robotics stock. The stock was sold at an average price of $8.79, for a total transaction of $9,748.11.

Serve Robotics Trading Down 5.5 %

SERV opened at $13.36 on Friday. Serve Robotics Inc. has a 52-week low of $1.77 and a 52-week high of $24.09. The company has a 50 day moving average of $10.06 and a two-hundred day moving average of $8.22.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Serve Robotics

Hedge funds and other institutional investors have recently made changes to their positions in the business. PFG Investments LLC purchased a new position in Serve Robotics in the second quarter valued at about $110,000. Thomist Capital Management LP acquired a new stake in shares of Serve Robotics in the second quarter valued at about $407,000. Bfsg LLC purchased a new stake in shares of Serve Robotics during the 3rd quarter valued at about $38,000. Harbour Capital Advisors LLC acquired a new position in Serve Robotics during the 3rd quarter worth approximately $198,000. Finally, Yong Rong HK Asset Management Ltd acquired a new stake in Serve Robotics in the third quarter valued at approximately $9,636,000.

Serve Robotics Company Profile

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.