Insider Selling: Serve Robotics Inc. (NASDAQ:SERV) CEO Sells $72,750.00 in Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the completion of the transaction, the chief executive officer now directly owns 3,290,990 shares of the company’s stock, valued at approximately $47,883,904.50. The trade was a 0.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 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 value 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 value 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 stock was sold at an average price of $12.48, for a total transaction 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 transaction 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 transaction of $362,099.49.
• On Monday, November 25th, Ali Kashani sold 9,719 shares of Serve Robotics stock. The stock was 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 shares were sold at an average price of $8.79, for a total value of $9,748.11.

Serve Robotics Price Performance

NASDAQ:SERV opened at $16.29 on Monday. Serve Robotics Inc. has a fifty-two week low of $1.77 and a fifty-two week high of $24.09. The business has a 50 day moving average price of $10.83 and a 200-day moving average price of $8.82.

Institutional Investors Weigh In On Serve Robotics

Several institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC bought a new position in shares of Serve Robotics during the third quarter valued at about $262,000. Geode Capital Management LLC increased its holdings in Serve Robotics by 128.1% during the 3rd quarter. Geode Capital Management LLC now owns 130,853 shares of the company’s stock valued at $1,041,000 after purchasing an additional 73,496 shares during the period. Gordian Capital Singapore Pte Ltd bought a new position in Serve Robotics during the 3rd quarter valued at approximately $68,000. State Street Corp purchased a new stake in Serve Robotics in the 3rd quarter worth approximately $333,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Serve Robotics in the 3rd quarter worth approximately $148,000.

Analyst Upgrades and Downgrades

SERV has been the subject of several research reports. LADENBURG THALM/SH SH initiated coverage on Serve Robotics in a research note on Monday, October 28th. They issued a “buy” rating and a $16.00 target price for the company. Seaport Res Ptn raised shares of Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. Northland Securities started coverage on shares of Serve Robotics in a research note on Friday, October 18th. They issued an “outperform” rating and a $16.00 price target for the company. Finally, Northland Capmk raised Serve Robotics to a “strong-buy” rating in a research note on Friday, October 18th. Two investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Strong Buy” and a consensus price target of $16.00.

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.