Ali Kashani Sells 37,500 Shares of Serve Robotics Inc. (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 37,500 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $21.16, for a total value of $793,500.00. Following the completion of the sale, the chief executive officer now owns 3,230,990 shares of the company’s stock, valued at approximately $68,367,748.40. This trade represents a 1.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Friday, January 3rd, Ali Kashani sold 7,500 shares of Serve Robotics stock. The stock was sold at an average price of $17.23, for a total transaction of $129,225.00.
• On Thursday, December 26th, Ali Kashani sold 7,500 shares of Serve Robotics stock. The stock was 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 shares were sold at an average price of $14.55, for a total value 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 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 transaction 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 transaction 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 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 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 Performance

SERV traded down $4.28 during trading hours on Tuesday, hitting $18.61. 21,792,815 shares of the company’s stock were exchanged, compared to its average volume of 19,347,305. Serve Robotics Inc. has a 1-year low of $1.77 and a 1-year high of $24.35. The stock’s 50-day moving average is $11.61 and its two-hundred day moving average is $9.43.

Hedge Funds Weigh In On Serve Robotics

A number of large investors have recently modified their holdings of the business. Tidal Investments LLC bought a new stake in Serve Robotics during the third quarter worth about $262,000. Geode Capital Management LLC boosted its holdings in shares of Serve Robotics by 128.1% in the 3rd quarter. Geode Capital Management LLC now owns 130,853 shares of the company’s stock valued at $1,041,000 after buying an additional 73,496 shares during the last quarter. Gordian Capital Singapore Pte Ltd bought a new position in shares of Serve Robotics in the third quarter valued at $68,000. State Street Corp bought a new stake in Serve Robotics during the third quarter worth $333,000. Finally, Quadrature Capital Ltd acquired a new stake in Serve Robotics in the third quarter valued at $148,000.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SERV. Northland Securities initiated coverage on Serve Robotics in a research note on Friday, October 18th. They issued an “outperform” rating and a $16.00 target price for the company. Northland Capmk raised shares of Serve Robotics to a “strong-buy” rating in a research note on Friday, October 18th. LADENBURG THALM/SH SH began coverage on shares of Serve Robotics in a report on Monday, October 28th. They set a “buy” rating and a $16.00 price objective on the stock. Finally, Seaport Res Ptn raised Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th. Two investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently 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.