Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani Sells 22,500 Shares of Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 22,500 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $14.93, for a total value of $335,925.00. Following the transaction, the chief executive officer now owns 3,306,998 shares of the company’s stock, valued at approximately $49,373,480.14. This represents a 0.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• 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 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 Trading Up 11.3 %

Shares of SERV opened at $16.68 on Wednesday. Serve Robotics Inc. has a 1 year low of $1.77 and a 1 year high of $24.09. The stock has a 50-day simple moving average of $9.90 and a 200-day simple moving average of $8.14.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Serve Robotics

A number of large investors have recently modified their holdings of SERV. PFG Investments LLC acquired a new position in shares of Serve Robotics during the second quarter worth $110,000. Thomist Capital Management LP purchased a new stake in Serve Robotics during the 2nd quarter worth about $407,000. Bfsg LLC acquired a new position in shares of Serve Robotics during the 3rd quarter worth about $38,000. Harbour Capital Advisors LLC purchased a new position in shares of Serve Robotics in the 3rd quarter valued at about $198,000. Finally, Yong Rong HK Asset Management Ltd acquired a new stake in shares of Serve Robotics during the 3rd quarter worth about $9,636,000.

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.