Insider Selling: Serve Robotics Inc. (NASDAQ:SERV) CEO Sells 1,008 Shares of Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 1,008 shares of Serve Robotics stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $16.05, for a total value of $16,178.40. Following the transaction, the chief executive officer now owns 3,298,490 shares in the company, valued at approximately $52,940,764.50. The trade was a 0.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 transaction 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 shares were 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 Stock Performance

NASDAQ SERV traded down $0.78 during trading on Thursday, hitting $13.36. The stock had a trading volume of 11,192,741 shares, compared to its average volume of 9,443,282. Serve Robotics Inc. has a twelve month low of $1.77 and a twelve month high of $24.09. The firm has a 50 day moving average price of $9.98 and a 200 day moving average price of $8.18.

Institutional Investors Weigh In On Serve Robotics

Several large investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC purchased a new position in Serve Robotics in the 3rd quarter valued at approximately $26,000. Bfsg LLC acquired a new stake in shares of Serve Robotics in the third quarter valued at $38,000. Gordian Capital Singapore Pte Ltd purchased a new position in Serve Robotics in the third quarter valued at $68,000. Quantum Private Wealth LLC acquired a new position in Serve Robotics during the 3rd quarter worth $80,000. Finally, Quadrature Capital Ltd acquired a new position in Serve Robotics during the 3rd quarter worth $148,000.

Wall Street Analyst Weigh In

SERV has been the subject of a number of recent analyst reports. Seaport Res Ptn raised Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th. Northland Securities began coverage on shares of Serve Robotics in a research report on Friday, October 18th. They set an “outperform” rating and a $16.00 price target for the company. 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 price objective on the stock. Finally, Northland Capmk raised shares of Serve Robotics to a “strong-buy” rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Serve Robotics has an average rating of “Strong Buy” and a consensus price target 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.