Serve Robotics Inc. (NASDAQ:SERV) CEO Sells $31,200.00 in Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 2,500 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.48, for a total transaction of $31,200.00. Following the sale, the chief executive officer now directly owns 3,329,498 shares in the company, valued at $41,552,135.04. This trade represents a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, December 16th, Ali Kashani sold 22,500 shares of Serve Robotics stock. The stock was sold at an average price of $14.93, for a total value of $335,925.00.
• 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 Up 11.3 %

SERV opened at $16.68 on Wednesday. The firm has a fifty day moving average price of $9.90 and a 200 day moving average price of $8.14. Serve Robotics Inc. has a 1 year low of $1.77 and a 1 year high of $24.09.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

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

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.