Serve Robotics Inc. (NASDAQ:SERV) Director David Michael Goldberg Sells 10,700 Shares

Serve Robotics Inc. (NASDAQ:SERV) Director David Michael Goldberg sold 10,700 shares of Serve Robotics stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $10.63, for a total value of $113,741.00. Following the sale, the director now directly owns 50,725 shares in the company, valued at $539,206.75. The trade was a 17.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Serve Robotics Stock Performance

NASDAQ:SERV traded down $0.16 during mid-day trading on Monday, hitting $10.26. The company’s stock had a trading volume of 4,056,387 shares, compared to its average volume of 10,216,281. Serve Robotics Inc. has a fifty-two week low of $1.82 and a fifty-two week high of $24.35. The stock has a fifty day moving average of $9.15 and a 200-day moving average of $11.34.

Hedge Funds Weigh In On Serve Robotics

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in Serve Robotics by 13.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 12,728 shares of the company’s stock valued at $73,000 after acquiring an additional 1,545 shares during the period. Blue Trust Inc. bought a new stake in shares of Serve Robotics in the 4th quarter worth about $27,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Serve Robotics during the 4th quarter worth about $34,000. Jefferies Financial Group Inc. increased its position in shares of Serve Robotics by 30.3% during the 4th quarter. Jefferies Financial Group Inc. now owns 17,200 shares of the company’s stock worth $232,000 after purchasing an additional 4,000 shares in the last quarter. Finally, PFG Investments LLC lifted its holdings in Serve Robotics by 12.3% during the 1st quarter. PFG Investments LLC now owns 36,498 shares of the company’s stock valued at $210,000 after purchasing an additional 4,000 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald began coverage on shares of Serve Robotics in a research note on Thursday, May 22nd. They set an “overweight” rating on the stock. Three research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Strong Buy” and a consensus target price of $18.67.

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.