Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani Sells 7,500 Shares

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 7,500 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $17.23, for a total transaction of $129,225.00. Following the transaction, the chief executive officer now directly owns 3,268,490 shares of the company’s stock, valued at $56,316,082.70. This 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 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 stock was sold at an average price of $21.16, for a total value 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 value 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 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 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 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 stock was sold at an average price of $8.77, for a total value of $85,235.63.

Serve Robotics Stock Down 18.7 %

NASDAQ SERV traded down $4.28 during mid-day trading on Tuesday, reaching $18.61. 21,792,815 shares of the 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 business’s fifty day simple moving average is $11.61 and its 200 day simple moving average is $9.43.

Wall Street Analysts Forecast Growth

SERV has been the subject of several recent research reports. Seaport Res Ptn upgraded shares of Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. LADENBURG THALM/SH SH initiated coverage on Serve Robotics in a research note on Monday, October 28th. They issued a “buy” rating and a $16.00 target price on the stock. Northland Securities started coverage on Serve Robotics in a research report on Friday, October 18th. They set an “outperform” rating and a $16.00 price target for the company. Finally, Northland Capmk upgraded Serve Robotics to a “strong-buy” rating in a research report on Friday, October 18th. Two equities 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 company has an average rating of “Strong Buy” and an average price target of $16.00.

Institutional Investors Weigh In On Serve Robotics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Larson Financial Group LLC purchased a new stake in Serve Robotics during the third quarter valued at about $26,000. Bfsg LLC purchased a new stake in shares of Serve Robotics during the 3rd quarter worth about $38,000. Gordian Capital Singapore Pte Ltd acquired a new stake in Serve Robotics during the 3rd quarter worth approximately $68,000. Quantum Private Wealth LLC acquired a new stake in Serve Robotics during the 3rd quarter worth approximately $80,000. Finally, Quadrature Capital Ltd purchased a new position in Serve Robotics in the third quarter valued at approximately $148,000.

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.