Insider Selling: Serve Robotics Inc. (NASDAQ:SERV) COO Sells 1,098 Shares of Stock

Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang sold 1,098 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $11.33, for a total value of $12,440.34. Following the completion of the transaction, the chief operating officer now directly owns 1,213,439 shares in the company, valued at approximately $13,748,263.87. This trade represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Touraj Parang also recently made the following trade(s):

• On Monday, December 9th, Touraj Parang sold 50,000 shares of Serve Robotics stock. The shares were sold at an average price of $12.99, for a total transaction of $649,500.00.
• On Monday, November 25th, Touraj Parang sold 1,365 shares of Serve Robotics stock. The stock was sold at an average price of $8.76, for a total transaction of $11,957.40.
• On Thursday, November 21st, Touraj Parang sold 245 shares of Serve Robotics stock. The shares were sold at an average price of $8.84, for a total transaction of $2,165.80.

Serve Robotics Price Performance

NASDAQ SERV opened at $13.74 on Wednesday. The business has a fifty day simple moving average of $9.30 and a 200 day simple moving average of $7.67. Serve Robotics Inc. has a 12 month low of $1.77 and a 12 month high of $24.09.

Institutional Trading of Serve Robotics

Several institutional investors and hedge funds have recently made changes to their positions in SERV. Larson Financial Group LLC bought a new stake in Serve Robotics in the 3rd quarter worth about $26,000. Bfsg LLC purchased a new position in shares of Serve Robotics in the 3rd quarter worth approximately $38,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Serve Robotics in the third quarter valued at approximately $68,000. Quantum Private Wealth LLC purchased a new stake in shares of Serve Robotics during the third quarter valued at approximately $80,000. Finally, Quadrature Capital Ltd bought a new stake in Serve Robotics during the third quarter worth $148,000.

Wall Street Analysts Forecast Growth

SERV has been the subject of a number of research analyst reports. Seaport Res Ptn raised Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th. Northland Capmk upgraded Serve Robotics to a “strong-buy” rating in a report on Friday, October 18th. 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 target for the company. Finally, Northland Securities began coverage on shares of Serve Robotics in a research note on Friday, October 18th. They issued an “outperform” rating and a $16.00 price objective on the stock. Two equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently 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.