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

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 37,500 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $21.16, for a total value of $793,500.00. Following the transaction, the chief executive officer now directly owns 3,230,990 shares in the company, valued at approximately $68,367,748.40. This represents a 1.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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 value 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 transaction 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 transaction of $72,750.00.
• On Friday, December 20th, Ali Kashani sold 2,500 shares of Serve Robotics stock. The stock was sold at an average price of $14.70, for a total transaction 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 transaction 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 value 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 value 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 value 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 transaction of $85,235.63.

Serve Robotics Stock Down 18.7 %

SERV traded down $4.28 during midday trading on Tuesday, reaching $18.61. 21,792,815 shares of the company’s stock were exchanged, compared to its average volume of 19,347,305. The business has a 50-day simple moving average of $11.61 and a two-hundred day simple moving average of $9.43. Serve Robotics Inc. has a one year low of $1.77 and a one year high of $24.35.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Serve Robotics

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