Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani Sells 22,500 Shares

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 22,500 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $14.93, for a total transaction of $335,925.00. Following the completion of the sale, the chief executive officer now directly owns 3,306,998 shares of the company’s stock, valued at approximately $49,373,480.14. This trade represents a 0.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, December 13th, Ali Kashani sold 2,500 shares of Serve Robotics stock. The stock was 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 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 value of $85,235.63.
• On Thursday, November 21st, Ali Kashani sold 1,109 shares of Serve Robotics stock. The stock was sold at an average price of $8.79, for a total transaction of $9,748.11.

Serve Robotics Price Performance

Shares of SERV opened at $16.68 on Wednesday. Serve Robotics Inc. has a 1 year low of $1.77 and a 1 year high of $24.09. The company’s fifty day moving average is $9.90 and its two-hundred day moving average is $8.14.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SERV. Larson Financial Group LLC acquired a new stake in Serve Robotics in the third quarter valued at about $26,000. Bfsg LLC purchased a new position in shares of Serve Robotics during the 3rd quarter worth approximately $38,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Serve Robotics in the 3rd quarter valued at approximately $68,000. Quantum Private Wealth LLC purchased a new stake in shares of Serve Robotics in the third quarter valued at approximately $80,000. Finally, PFG Investments LLC acquired a new position in Serve Robotics during the second quarter worth $110,000.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Seaport Res Ptn upgraded shares of Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th. Northland Capmk upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Friday, October 18th. LADENBURG THALM/SH SH initiated coverage on Serve Robotics in a report on Monday, October 28th. They set a “buy” rating and a $16.00 price target on the stock. Finally, Northland Securities started coverage on Serve Robotics in a research note on Friday, October 18th. They set an “outperform” rating and a $16.00 price objective for the company. Two investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Serve Robotics presently has an average rating of “Strong Buy” and an average target price of $16.00.

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.