Insider Selling: Serve Robotics Inc. (NASDAQ:SERV) CEO Sells 9,719 Shares of Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 9,719 shares of Serve Robotics stock in a transaction on Monday, November 25th. The stock was sold at an average price of $8.77, for a total value of $85,235.63. Following the sale, the chief executive officer now directly owns 3,355,238 shares of the company’s stock, valued at approximately $29,425,437.26. This trade represents a 0.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 Down 2.2 %

NASDAQ:SERV traded down $0.19 on Wednesday, reaching $8.59. The company’s stock had a trading volume of 3,187,323 shares, compared to its average volume of 9,206,904. Serve Robotics Inc. has a 1-year low of $1.77 and a 1-year high of $24.09. The business’s 50-day moving average price is $9.02 and its two-hundred day moving average price is $7.28.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC bought a new stake in shares of Serve Robotics in the third quarter valued at about $26,000. Bfsg LLC bought a new stake in shares of Serve Robotics in the third quarter valued at about $38,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Serve Robotics in the third quarter valued at about $68,000. Quantum Private Wealth LLC bought a new stake in shares of Serve Robotics in the third quarter valued at about $80,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Serve Robotics in the third quarter valued at about $148,000.

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.