Insider Selling: Serve Robotics Inc. (NASDAQ:SERV) CEO Sells 5,000 Shares of Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 5,000 shares of Serve Robotics stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the sale, the chief executive officer now directly owns 3,290,990 shares in the company, valued at $47,883,904.50. The trade was a 0.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• 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 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 shares were 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 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 stock was 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 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 value of $9,748.11.

Serve Robotics Stock Performance

SERV stock opened at $16.29 on Monday. Serve Robotics Inc. has a 1-year low of $1.77 and a 1-year high of $24.09. The business has a fifty day moving average price of $10.83 and a 200-day moving average price of $8.82.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Serve Robotics

A number of hedge funds have recently bought and sold shares of the business. Yong Rong HK Asset Management Ltd purchased a new stake in shares of Serve Robotics during the 3rd quarter valued at about $9,636,000. Thomist Capital Management LP purchased a new stake in Serve Robotics in the second quarter worth approximately $407,000. Geode Capital Management LLC grew its position in Serve Robotics by 128.1% in the 3rd 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 period. PFG Investments LLC purchased a new stake in Serve Robotics during the 2nd quarter valued at $110,000. Finally, State Street Corp bought a new position in shares of Serve Robotics during the 3rd quarter valued at $333,000.

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.