Serve Robotics Inc. (NASDAQ:SERV) CEO Sells $123,750.00 in Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 7,500 shares of Serve Robotics stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $16.50, for a total transaction of $123,750.00. Following the completion of the transaction, the chief executive officer now directly owns 3,283,490 shares in the company, valued at approximately $54,177,585. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 stock was sold at an average price of $14.70, for a total value 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 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 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 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

NASDAQ:SERV traded down $1.35 during midday trading on Friday, reaching $16.29. The stock had a trading volume of 8,896,548 shares, compared to its average volume of 9,488,488. Serve Robotics Inc. has a 1-year low of $1.77 and a 1-year high of $24.09. The firm’s fifty day simple moving average is $10.69 and its 200-day simple moving average is $8.64.

Institutional Investors Weigh In On Serve Robotics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC bought a new stake in Serve Robotics during the 3rd quarter valued at approximately $262,000. Geode Capital Management LLC lifted its holdings in shares of Serve Robotics by 128.1% during the third quarter. Geode Capital Management LLC now owns 130,853 shares of the company’s stock worth $1,041,000 after buying an additional 73,496 shares during the last quarter. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Serve Robotics in the third quarter valued at approximately $68,000. State Street Corp acquired a new stake in shares of Serve Robotics in the third quarter worth $333,000. Finally, Quadrature Capital Ltd bought a new position in Serve Robotics during the third quarter worth $148,000.

Analyst Upgrades and Downgrades

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