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

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 37,500 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $21.16, for a total value of $793,500.00. Following the transaction, the chief executive officer now owns 3,230,990 shares of the company’s stock, valued at approximately $68,367,748.40. This represents a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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 stock was 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 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 stock was 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 value of $335,925.00.
• 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 transaction of $85,235.63.

Serve Robotics Trading Down 9.7 %

Shares of NASDAQ:SERV opened at $16.80 on Thursday. Serve Robotics Inc. has a 1-year low of $1.77 and a 1-year high of $24.35. The firm has a fifty day moving average price of $11.86 and a 200 day moving average price of $9.60.

Wall Street Analyst Weigh In

SERV has been the topic of a number of recent analyst reports. LADENBURG THALM/SH SH started coverage on shares of Serve Robotics in a research report on Monday, October 28th. They issued a “buy” rating and a $16.00 price objective on the stock. Seaport Res Ptn raised Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. Northland Capmk raised Serve Robotics to a “strong-buy” rating in a report on Friday, October 18th. Finally, Northland Securities assumed coverage on Serve Robotics in a report on Friday, October 18th. They issued an “outperform” rating and a $16.00 price objective on the stock. Two research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Serve Robotics has an average rating of “Strong Buy” and a consensus price target of $16.00.

Institutional Investors Weigh In On Serve Robotics

Several hedge funds have recently made changes to their positions in the business. Yong Rong HK Asset Management Ltd acquired a new position in Serve Robotics in the 3rd quarter valued at about $9,636,000. Thomist Capital Management LP acquired a new position in shares of Serve Robotics in the second quarter valued at approximately $407,000. Geode Capital Management LLC raised its stake in shares of Serve Robotics by 128.1% during the third 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 during the last quarter. PFG Investments LLC acquired a new stake in shares of Serve Robotics during the second quarter worth $110,000. Finally, State Street Corp purchased a new position in Serve Robotics in the 3rd quarter valued at $333,000.

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.