Ali Kashani Sells 2,055 Shares of Serve Robotics Inc. (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 2,055 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $7.37, for a total transaction of $15,145.35. Following the completion of the sale, the chief executive officer now owns 3,226,797 shares of the company’s stock, valued at approximately $23,781,493.89. This trade represents a 0.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Tuesday, March 11th, Ali Kashani bought 3,000 shares of Serve Robotics stock. The stock was acquired at an average cost of $6.85 per share, with a total value of $20,550.00.
• On Thursday, February 27th, Ali Kashani sold 3,713 shares of Serve Robotics stock. The stock was sold at an average price of $9.21, for a total value of $34,196.73.
• 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 Friday, January 3rd, Ali Kashani sold 7,500 shares of Serve Robotics stock. The shares were sold at an average price of $17.23, for a total value of $129,225.00.
• 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 Tuesday, December 24th, Ali Kashani sold 5,000 shares of Serve Robotics stock. The stock was sold at an average price of $14.55, for a total transaction 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.

Serve Robotics Trading Down 6.4 %

Shares of NASDAQ SERV traded down $0.47 during midday trading on Thursday, hitting $6.93. The company’s stock had a trading volume of 5,870,497 shares, compared to its average volume of 9,667,485. The firm has a market capitalization of $394.44 million and a price-to-earnings ratio of -5.78. The stock has a fifty day moving average price of $13.57 and a 200 day moving average price of $11.51. Serve Robotics Inc. has a one year low of $1.77 and a one year high of $24.35.

Analysts Set New Price Targets

Separately, Northland Securities set a $23.00 price target on shares of Serve Robotics in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Strong Buy” and an average price target of $19.50.

Institutional Investors Weigh In On Serve Robotics

A number of hedge funds and other institutional investors have recently bought and sold shares of SERV. Jefferies Financial Group Inc. boosted its holdings in shares of Serve Robotics by 30.3% in the fourth quarter. Jefferies Financial Group Inc. now owns 17,200 shares of the company’s stock worth $232,000 after acquiring an additional 4,000 shares during the period. Two Sigma Investments LP bought a new stake in shares of Serve Robotics during the 4th quarter valued at $815,000. Tidal Investments LLC lifted its holdings in Serve Robotics by 57.6% during the 4th quarter. Tidal Investments LLC now owns 51,846 shares of the company’s stock worth $700,000 after purchasing an additional 18,948 shares in the last quarter. Man Group plc bought a new position in Serve Robotics in the 4th quarter worth about $467,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in Serve Robotics during the 4th quarter valued at about $431,000.

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.