Insider Selling: Serve Robotics Inc. (NASDAQ:SERV) CEO Sells $16,178.40 in Stock

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

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 transaction 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 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 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 value of $9,748.11.

Serve Robotics Stock Performance

NASDAQ:SERV opened at $14.61 on Friday. Serve Robotics Inc. has a 12-month low of $1.77 and a 12-month high of $24.09. The company’s 50-day moving average is $10.18 and its two-hundred day moving average is $8.30.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Serve Robotics

Institutional investors and hedge funds have recently modified their holdings of the company. Yong Rong HK Asset Management Ltd acquired a new position in Serve Robotics in the 3rd quarter valued at $9,636,000. Thomist Capital Management LP purchased a new stake in shares of Serve Robotics in the second quarter valued at $407,000. Geode Capital Management LLC grew its position in shares of 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 acquired a new position in Serve Robotics in the second quarter valued at $110,000. Finally, State Street Corp acquired a new stake in Serve Robotics in the 3rd quarter worth about $333,000.

About Serve Robotics

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.