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 business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.48, for a total value of $31,200.00. Following the completion of the sale, the chief executive officer now directly owns 3,329,498 shares in the company, valued at approximately $41,552,135.04. The trade was a 0.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 transaction of $335,925.00.
• 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 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 Stock Up 11.3 %

Shares of SERV traded up $1.70 during mid-day trading on Tuesday, hitting $16.68. The company’s stock had a trading volume of 18,874,124 shares, compared to its average volume of 9,406,848. The stock’s 50-day moving average is $9.76 and its two-hundred day moving average is $8.04. Serve Robotics Inc. has a one year low of $1.77 and a one year high of $24.09.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Northland Capmk upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Friday, October 18th. Seaport Res Ptn raised shares of Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th. Northland Securities started coverage on 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 started coverage on Serve Robotics in a research note on Monday, October 28th. They set a “buy” rating and a $16.00 price target for the company. 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 an average rating of “Strong Buy” and an average price target of $16.00.

Hedge Funds Weigh In On Serve Robotics

Several large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC bought a new position in Serve Robotics during the third quarter worth about $262,000. Geode Capital Management LLC lifted its holdings in Serve Robotics by 128.1% during the 3rd quarter. Geode Capital Management LLC now owns 130,853 shares of the company’s stock valued at $1,041,000 after purchasing an additional 73,496 shares during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new position in Serve Robotics in the third quarter valued at about $68,000. State Street Corp bought a new stake in Serve Robotics during the third quarter worth about $333,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of 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.