Serve Robotics Inc. (NASDAQ:SERV) CEO Sells $129,225.00 in Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 7,500 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $17.23, for a total value of $129,225.00. Following the completion of the sale, the chief executive officer now directly owns 3,268,490 shares in the company, valued at approximately $56,316,082.70. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, January 6th, Ali Kashani sold 37,500 shares of Serve Robotics stock. The shares were sold at an average price of $21.16, for a total transaction of $793,500.00.
• 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 transaction 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 transaction of $72,750.00.
• On Friday, December 20th, Ali Kashani sold 2,500 shares of Serve Robotics stock. The shares were 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 stock was sold at an average price of $16.05, for a total value 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 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 value of $33,800.00.
• On Friday, December 6th, Ali Kashani sold 31,791 shares of Serve Robotics stock. The shares were 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 transaction of $85,235.63.

Serve Robotics Stock Down 9.7 %

NASDAQ SERV opened at $16.80 on Friday. Serve Robotics Inc. has a twelve month low of $1.77 and a twelve month high of $24.35. The business has a 50-day moving average price of $11.99 and a 200-day moving average price of $9.65.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

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

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.