Ali Kashani Sells 7,500 Shares of Serve Robotics Inc. (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 7,500 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $16.50, for a total value of $123,750.00. Following the transaction, the chief executive officer now owns 3,283,490 shares of the company’s stock, valued at $54,177,585. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, December 24th, Ali Kashani sold 5,000 shares of Serve Robotics stock. The shares were 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.
• On Wednesday, December 18th, Ali Kashani sold 1,008 shares of Serve Robotics stock. The shares were sold at an average price of $16.05, for a total transaction of $16,178.40.
• On Monday, December 16th, Ali Kashani sold 22,500 shares of Serve Robotics stock. The stock was sold at an average price of $14.93, for a total transaction of $335,925.00.
• 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 value of $31,200.00.
• On Monday, December 9th, Ali Kashani sold 2,500 shares of Serve Robotics stock. The stock was sold at an average price of $13.52, for a total value of $33,800.00.
• 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 value 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 value 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 transaction of $9,748.11.

Serve Robotics Trading Down 7.7 %

SERV opened at $16.29 on Friday. The firm’s 50 day simple moving average is $10.83 and its two-hundred day simple moving average is $8.78. Serve Robotics Inc. has a 1-year low of $1.77 and a 1-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 stock. Larson Financial Group LLC purchased a new position in Serve Robotics during the third quarter valued at $26,000. Bfsg LLC bought a new position in shares of Serve Robotics in the third quarter worth about $38,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Serve Robotics during the 3rd quarter valued at about $68,000. Quantum Private Wealth LLC bought a new position in shares of Serve Robotics during the 3rd quarter valued at approximately $80,000. Finally, Quadrature Capital Ltd purchased a new stake in Serve Robotics in the 3rd quarter worth approximately $148,000.

Wall Street Analysts Forecast Growth

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