Serve Robotics Inc. (NASDAQ:SERV) CEO Sells $335,925.00 in Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 22,500 shares of Serve Robotics stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $14.93, for a total value of $335,925.00. Following the sale, the chief executive officer now directly owns 3,306,998 shares in the company, valued at approximately $49,373,480.14. The trade was a 0.68 % decrease in their ownership of the stock. The sale 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 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 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 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 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 value of $9,748.11.

Serve Robotics Stock Performance

Shares of SERV opened at $13.36 on Friday. Serve Robotics Inc. has a 12 month low of $1.77 and a 12 month high of $24.09. The stock has a fifty day moving average price of $10.06 and a 200 day moving average price of $8.22.

Hedge Funds Weigh In On Serve Robotics

Several institutional investors have recently modified their holdings of the company. Larson Financial Group LLC bought a new stake in Serve Robotics in the 3rd quarter valued at about $26,000. Bfsg LLC acquired a new stake in shares of Serve Robotics in the third quarter valued at approximately $38,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Serve Robotics during the third quarter valued at approximately $68,000. Quantum Private Wealth LLC acquired a new position in shares of Serve Robotics during the third quarter worth approximately $80,000. Finally, PFG Investments LLC acquired a new position in shares of Serve Robotics during the second quarter worth approximately $110,000.

Wall Street Analyst Weigh In

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

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.