Insider Selling: Serve Robotics Inc. (NASDAQ:SERV) CEO Sells 2,500 Shares of Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 2,500 shares of Serve Robotics stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $14.70, for a total transaction of $36,750.00. Following the completion of the transaction, the chief executive officer now owns 3,295,990 shares of the company’s stock, valued at $48,451,053. The trade was a 0.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 transaction 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 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 value of $33,800.00.
• On Friday, December 6th, Ali Kashani sold 31,791 shares of Serve Robotics stock. The shares were 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 Performance

Shares of NASDAQ SERV traded up $0.12 during trading hours on Monday, reaching $14.73. 9,599,820 shares of the stock traded hands, compared to its average volume of 9,469,583. The company’s 50-day simple moving average is $10.18 and its two-hundred day simple moving average is $8.38. Serve Robotics Inc. has a 52-week low of $1.77 and a 52-week high of $24.09.

Hedge Funds Weigh In On Serve Robotics

Several institutional investors and hedge funds have recently made changes to their positions in SERV. Larson Financial Group LLC bought a new stake in Serve Robotics in the 3rd quarter worth $26,000. Bfsg LLC purchased a new stake in shares of Serve Robotics during the third quarter worth about $38,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Serve Robotics in the third quarter worth about $68,000. Quantum Private Wealth LLC purchased a new position in Serve Robotics during the 3rd quarter valued at about $80,000. Finally, PFG Investments LLC bought a new position in Serve Robotics during the 2nd quarter valued at approximately $110,000.

Analyst Upgrades and Downgrades

SERV has been the subject of a number of recent analyst reports. Northland Capmk upgraded shares of Serve Robotics to a “strong-buy” rating in a research report on Friday, October 18th. 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 on the stock. Northland Securities started coverage on Serve Robotics in a report on Friday, October 18th. They issued an “outperform” rating and a $16.00 price target on the stock. Finally, Seaport Res Ptn raised Serve Robotics to a “strong-buy” rating in a report 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy” and an average target price of $16.00.

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.