Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani Acquires 3,000 Shares

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani bought 3,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were acquired at an average price of $6.85 per share, for a total transaction of $20,550.00. Following the completion of the acquisition, the chief executive officer now owns 3,228,852 shares in the company, valued at $22,117,636.20. This represents a 0.09 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• 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 shares were 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 transaction 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 shares were 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 shares were 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 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.

Serve Robotics Stock Up 9.1 %

Shares of Serve Robotics stock opened at $7.66 on Friday. The firm has a market capitalization of $339.32 million and a P/E ratio of -6.38. The company has a 50 day moving average price of $14.49 and a 200 day moving average price of $11.57. Serve Robotics Inc. has a 52 week low of $1.77 and a 52 week high of $24.35.

Hedge Funds Weigh In On Serve Robotics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. purchased a new position in Serve Robotics during the 4th quarter worth approximately $27,000. CIBC Private Wealth Group LLC purchased a new position in Serve Robotics during the 4th quarter worth approximately $34,000. Bogart Wealth LLC purchased a new position in Serve Robotics during the 4th quarter worth approximately $37,000. Larson Financial Group LLC purchased a new position in Serve Robotics during the 3rd quarter worth approximately $26,000. Finally, SG Americas Securities LLC purchased a new position in Serve Robotics during the 4th quarter worth approximately $114,000.

Wall Street Analysts Forecast Growth

Separately, Northland Securities set a $23.00 price objective on shares of Serve Robotics in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Strong Buy” and a consensus price target of $19.50.

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.