Insider Selling: Serve Robotics Inc. (NASDAQ:SERV) CEO Sells 7,500 Shares of Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 7,500 shares of Serve Robotics stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $16.50, for a total transaction of $123,750.00. Following the completion of the transaction, the chief executive officer now directly owns 3,283,490 shares of the company’s stock, valued at approximately $54,177,585. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, December 24th, Ali Kashani sold 5,000 shares of Serve Robotics stock. The shares were 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 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 shares were 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 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 stock was 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 shares were sold at an average price of $8.79, for a total value of $9,748.11.

Serve Robotics Trading Down 7.7 %

SERV stock traded down $1.35 during trading hours on Friday, hitting $16.29. 8,896,548 shares of the stock traded hands, compared to its average volume of 9,488,488. The stock has a 50-day simple moving average of $10.69 and a 200 day simple moving average of $8.64. Serve Robotics Inc. has a one year low of $1.77 and a one year high of $24.09.

Hedge Funds Weigh In On Serve Robotics

Hedge funds have recently made changes to their positions in the business. PFG Investments LLC bought a new stake in Serve Robotics during the second quarter worth approximately $110,000. Thomist Capital Management LP acquired a new stake in shares of Serve Robotics during the 2nd quarter valued at $407,000. Bfsg LLC bought a new stake in shares of Serve Robotics during the 3rd quarter worth $38,000. Harbour Capital Advisors LLC acquired a new position in shares of Serve Robotics in the 3rd quarter worth $198,000. Finally, Yong Rong HK Asset Management Ltd acquired a new stake in shares of Serve Robotics during the third quarter worth $9,636,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Northland Securities initiated coverage on Serve Robotics in a report on Friday, October 18th. They set an “outperform” rating and a $16.00 price target 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 raised shares of Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th. Finally, LADENBURG THALM/SH SH began coverage on shares of Serve Robotics in a report on Monday, October 28th. They issued 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Strong Buy” and a consensus 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.