Ali Kashani Sells 1,008 Shares of Serve Robotics Inc. (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 1,008 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $16.05, for a total transaction of $16,178.40. Following the completion of the transaction, the chief executive officer now directly owns 3,298,490 shares of the company’s stock, valued at approximately $52,940,764.50. The trade was a 0.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, December 16th, Ali Kashani sold 22,500 shares of Serve Robotics stock. The stock was 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 shares were 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.
• 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 Stock Up 9.4 %

Shares of Serve Robotics stock opened at $14.61 on Friday. The company has a 50-day simple moving average of $10.18 and a two-hundred day simple moving average of $8.30. Serve Robotics Inc. has a 52-week low of $1.77 and a 52-week high of $24.09.

Institutional Investors Weigh In On Serve Robotics

Institutional investors and hedge funds have recently made changes to their positions in the company. Yong Rong HK Asset Management Ltd bought a new position in Serve Robotics in the 3rd quarter valued at approximately $9,636,000. Thomist Capital Management LP purchased a new position in shares of Serve Robotics in the second quarter worth $407,000. PFG Investments LLC bought a new position in shares of Serve Robotics during the second quarter valued at $110,000. Bfsg LLC purchased a new stake in shares of Serve Robotics during the third quarter valued at $38,000. Finally, GSA Capital Partners LLP bought a new stake in Serve Robotics in the 3rd quarter worth about $152,000.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Seaport Res Ptn upgraded shares of Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. Northland Capmk upgraded 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 research report on Monday, October 28th. They set a “buy” rating and a $16.00 price objective for the company. Finally, Northland Securities initiated coverage on Serve Robotics in a report on Friday, October 18th. They issued an “outperform” rating and a $16.00 target price on the stock. Two investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Strong Buy” and a consensus target price 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.