Serve Robotics Inc. (NASDAQ:SERV) CEO Sells $31,200.00 in Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 2,500 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $12.48, for a total transaction of $31,200.00. Following the transaction, the chief executive officer now directly owns 3,329,498 shares of the company’s stock, valued at approximately $41,552,135.04. This trade represents a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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 shares were sold at an average price of $14.93, for a total value of $335,925.00.
• 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 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 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 shares were sold at an average price of $8.79, for a total transaction of $9,748.11.

Serve Robotics Price Performance

Shares of NASDAQ:SERV opened at $13.36 on Friday. The company’s 50 day moving average is $10.06 and its two-hundred day moving average is $8.22. Serve Robotics Inc. has a 52 week low of $1.77 and a 52 week high of $24.09.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Serve Robotics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Larson Financial Group LLC purchased a new position in Serve Robotics in the third quarter valued at about $26,000. Bfsg LLC acquired a new position in Serve Robotics in the 3rd quarter valued at $38,000. Gordian Capital Singapore Pte Ltd acquired a new stake in Serve Robotics in the 3rd quarter worth about $68,000. Quantum Private Wealth LLC purchased a new stake in Serve Robotics in the third quarter valued at approximately $80,000. Finally, Quadrature Capital Ltd acquired a new position in Serve Robotics during the third quarter worth approximately $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.