Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani Sells 37,500 Shares of Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 37,500 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $21.16, for a total transaction of $793,500.00. Following the transaction, the chief executive officer now owns 3,230,990 shares of the company’s stock, valued at approximately $68,367,748.40. This represents a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, January 3rd, Ali Kashani sold 7,500 shares of Serve Robotics stock. The stock was sold at an average price of $17.23, for a total transaction of $129,225.00.
• On Thursday, December 26th, Ali Kashani sold 7,500 shares of Serve Robotics stock. The shares were sold at an average price of $16.50, for a total value 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 value 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 value 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 value 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 transaction 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 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 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 value of $85,235.63.

Serve Robotics Stock Down 18.7 %

NASDAQ SERV opened at $18.61 on Wednesday. Serve Robotics Inc. has a one year low of $1.77 and a one year high of $24.35. The business has a 50 day simple moving average of $11.75 and a 200 day simple moving average of $9.55.

Institutional Trading of Serve Robotics

Several large investors have recently modified their holdings of the stock. Larson Financial Group LLC acquired a new position in shares of Serve Robotics during the 3rd quarter valued at $26,000. Bfsg LLC bought a new stake in Serve Robotics in the third quarter valued at $38,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Serve Robotics during the third quarter valued at about $68,000. Quantum Private Wealth LLC bought a new position in shares of Serve Robotics during the 3rd quarter worth about $80,000. Finally, PFG Investments LLC acquired a new stake in shares of Serve Robotics in the 2nd quarter valued at about $110,000.

Wall Street Analyst Weigh In

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