Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang Sells 1,365 Shares

Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang sold 1,365 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $8.76, for a total transaction of $11,957.40. Following the sale, the chief operating officer now owns 1,200,956 shares of the company’s stock, valued at approximately $10,520,374.56. This trade represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Touraj Parang also recently made the following trade(s):

• On Thursday, November 21st, Touraj Parang sold 245 shares of Serve Robotics stock. The shares were sold at an average price of $8.84, for a total transaction of $2,165.80.

Serve Robotics Stock Down 2.2 %

Shares of Serve Robotics stock opened at $8.59 on Friday. The business has a 50-day simple moving average of $9.03 and a 200 day simple moving average of $7.29. Serve Robotics Inc. has a one year low of $1.77 and a one year high of $24.09.

Institutional Investors Weigh In On Serve Robotics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Yong Rong HK Asset Management Ltd bought a new position in shares of Serve Robotics in the 3rd quarter worth $9,636,000. Thomist Capital Management LP acquired a new position in Serve Robotics during the second quarter worth $407,000. Geode Capital Management LLC lifted its stake 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 buying an additional 73,496 shares in the last quarter. PFG Investments LLC acquired a new position in shares of Serve Robotics during the second quarter valued at about $110,000. Finally, State Street Corp bought a new stake in shares of Serve Robotics during the third quarter worth about $333,000.

Wall Street Analysts Forecast Growth

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