Ali Kashani Sells 1,008 Shares of Serve Robotics Inc. (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 1,008 shares of Serve Robotics stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $16.05, for a total transaction of $16,178.40. Following the completion of the transaction, the chief executive officer now directly owns 3,298,490 shares in the company, valued at $52,940,764.50. This represents a 0.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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 Friday, December 13th, Ali Kashani sold 2,500 shares of Serve Robotics stock. The shares were 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 stock was sold at an average price of $13.52, for a total transaction 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 shares were sold at an average price of $8.77, for a total transaction 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 value of $9,748.11.

Serve Robotics Stock Performance

SERV stock traded down $0.78 during mid-day trading on Thursday, reaching $13.36. 11,192,741 shares of the company’s stock were exchanged, compared to its average volume of 9,443,282. Serve Robotics Inc. has a 12-month low of $1.77 and a 12-month high of $24.09. The stock’s 50 day moving average is $9.98 and its 200 day moving average is $8.18.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SERV. Larson Financial Group LLC purchased a new stake in Serve Robotics during the 3rd quarter worth approximately $26,000. Bfsg LLC acquired a new stake in shares of Serve Robotics in the third quarter worth approximately $38,000. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Serve Robotics during the third quarter worth approximately $68,000. Quantum Private Wealth LLC acquired a new position in Serve Robotics in the 3rd quarter valued at $80,000. Finally, PFG Investments LLC purchased a new position in Serve Robotics in the 2nd quarter valued at $110,000.

Analysts Set New Price Targets

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