Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani Sells 2,500 Shares

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 2,500 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $13.52, for a total transaction of $33,800.00. Following the completion of the sale, the chief executive officer now directly owns 3,344,498 shares of the company’s stock, valued at approximately $45,217,612.96. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 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 transaction of $9,748.11.

Serve Robotics Stock Up 14.7 %

Shares of NASDAQ:SERV opened at $13.74 on Wednesday. Serve Robotics Inc. has a 1 year low of $1.77 and a 1 year high of $24.09. The business’s 50-day moving average is $9.30 and its 200 day moving average is $7.67.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Serve Robotics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC acquired a new position in Serve Robotics during the 3rd quarter valued at approximately $26,000. Bfsg LLC purchased a new stake in shares of Serve Robotics during the third quarter valued at $38,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Serve Robotics in the 3rd quarter valued at $68,000. Quantum Private Wealth LLC purchased a new position in Serve Robotics in the 3rd quarter worth $80,000. Finally, Quadrature Capital Ltd acquired a new stake in Serve Robotics during the 3rd quarter worth about $148,000.

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.