Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani Sells 5,000 Shares

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 5,000 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the completion of the transaction, the chief executive officer now directly owns 3,290,990 shares in the company, valued at $47,883,904.50. This represents a 0.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• 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 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 shares were 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 transaction 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.
• On Thursday, November 21st, Ali Kashani sold 1,109 shares of Serve Robotics stock. The shares were sold at an average price of $8.79, for a total transaction of $9,748.11.

Serve Robotics Stock Performance

Serve Robotics stock traded down $1.35 during mid-day trading on Friday, hitting $16.29. 8,896,548 shares of the company were exchanged, compared to its average volume of 9,488,488. Serve Robotics Inc. has a 12-month low of $1.77 and a 12-month high of $24.09. The business’s 50 day simple moving average is $10.69 and its two-hundred day simple moving average is $8.64.

Institutional Trading of Serve Robotics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Yong Rong HK Asset Management Ltd acquired a new stake in shares of Serve Robotics during the 3rd quarter worth about $9,636,000. Thomist Capital Management LP acquired a new stake in Serve Robotics during the second quarter worth approximately $407,000. Geode Capital Management LLC boosted its position in 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 acquiring an additional 73,496 shares during the last quarter. PFG Investments LLC purchased a new stake in Serve Robotics in the 2nd quarter worth approximately $110,000. Finally, State Street Corp acquired a new position in Serve Robotics in the 3rd quarter valued at $333,000.

Wall Street Analysts Forecast Growth

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