Insider Selling: Serve Robotics Inc. (NASDAQ:SERV) CEO Sells 2,500 Shares of Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 2,500 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $14.70, for a total value of $36,750.00. Following the completion of the sale, the chief executive officer now owns 3,295,990 shares of the company’s stock, valued at $48,451,053. The trade was a 0.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 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 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 shares were 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 stock was sold at an average price of $8.79, for a total value of $9,748.11.

Serve Robotics Price Performance

NASDAQ SERV opened at $14.73 on Tuesday. The stock has a 50-day simple moving average of $10.18 and a 200 day simple moving average of $8.38. Serve Robotics Inc. has a twelve month low of $1.77 and a twelve month high of $24.09.

Institutional Investors Weigh In On Serve Robotics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Yong Rong HK Asset Management Ltd acquired a new stake in shares of Serve Robotics in the 3rd quarter valued at $9,636,000. Thomist Capital Management LP acquired a new position in Serve Robotics in the second quarter valued at about $407,000. Geode Capital Management LLC grew its stake in Serve Robotics by 128.1% during the third quarter. Geode Capital Management LLC now owns 130,853 shares of the company’s stock worth $1,041,000 after buying an additional 73,496 shares during the last quarter. PFG Investments LLC bought a new stake in Serve Robotics during the second quarter worth about $110,000. Finally, State Street Corp acquired a new stake in shares of Serve Robotics during the third quarter worth approximately $333,000.

Analyst Upgrades and Downgrades

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