Ali Kashani Sells 2,055 Shares of Serve Robotics Inc. (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 2,055 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $7.37, for a total value of $15,145.35. Following the transaction, the chief executive officer now directly owns 3,226,797 shares of the company’s stock, valued at $23,781,493.89. The trade was a 0.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, March 11th, Ali Kashani bought 3,000 shares of Serve Robotics stock. The shares were bought at an average price of $6.85 per share, with a total value of $20,550.00.
• On Thursday, February 27th, Ali Kashani sold 3,713 shares of Serve Robotics stock. The stock was sold at an average price of $9.21, for a total transaction of $34,196.73.
• On Monday, January 6th, Ali Kashani sold 37,500 shares of Serve Robotics stock. The stock was sold at an average price of $21.16, for a total transaction of $793,500.00.
• On Friday, January 3rd, Ali Kashani sold 7,500 shares of Serve Robotics stock. The shares were 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 value 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 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.

Serve Robotics Price Performance

NASDAQ SERV traded down $0.47 during trading on Thursday, hitting $6.93. 5,870,497 shares of the company’s stock traded hands, compared to its average volume of 9,667,485. The stock has a fifty day moving average of $13.57 and a two-hundred day moving average of $11.51. Serve Robotics Inc. has a 12-month low of $1.77 and a 12-month high of $24.35. The firm has a market cap of $394.44 million and a P/E ratio of -5.78.

Wall Street Analysts Forecast Growth

Separately, Northland Securities set a $23.00 target price on Serve Robotics in a research note on Tuesday, February 18th. Two analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Serve Robotics has a consensus rating of “Strong Buy” and an average price target of $19.50.

Institutional Investors Weigh In On Serve Robotics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. purchased a new position in Serve Robotics in the 4th quarter worth approximately $27,000. CIBC Private Wealth Group LLC bought a new position in shares of Serve Robotics in the fourth quarter worth approximately $34,000. Bogart Wealth LLC purchased a new position in shares of Serve Robotics in the fourth quarter worth $37,000. Larson Financial Group LLC bought a new stake in Serve Robotics during the 3rd quarter valued at $26,000. Finally, Jefferies Financial Group Inc. boosted its position in Serve Robotics by 30.3% during the 4th quarter. Jefferies Financial Group Inc. now owns 17,200 shares of the company’s stock valued at $232,000 after buying an additional 4,000 shares during the period.

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.