Ali Kashani Sells 7,500 Shares of Serve Robotics Inc. (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 7,500 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $16.50, for a total transaction of $123,750.00. Following the completion of the sale, the chief executive officer now directly owns 3,283,490 shares of the company’s stock, valued at $54,177,585. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, December 24th, Ali Kashani sold 5,000 shares of Serve Robotics stock. The shares were sold at an average price of $14.55, for a total value of $72,750.00.
• 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 shares were 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 stock was 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 shares were 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 transaction 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 Trading Down 7.7 %

SERV stock opened at $16.29 on Friday. The business’s 50 day moving average price is $10.83 and its two-hundred day moving average price is $8.78. Serve Robotics Inc. has a fifty-two week low of $1.77 and a fifty-two week high of $24.09.

Institutional Investors Weigh In On Serve Robotics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC bought a new stake in shares of Serve Robotics during the 3rd quarter valued at $262,000. Geode Capital Management LLC increased its stake in shares of 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 acquiring an additional 73,496 shares in the last quarter. Gordian Capital Singapore Pte Ltd purchased a new position in Serve Robotics during the 3rd quarter valued at about $68,000. State Street Corp bought a new stake in Serve Robotics during the third quarter worth about $333,000. Finally, Quadrature Capital Ltd purchased a new stake in Serve Robotics in the third quarter worth about $148,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Northland Securities initiated coverage on Serve Robotics in a research report on Friday, October 18th. They issued an “outperform” rating and a $16.00 price objective on the stock. Northland Capmk raised Serve Robotics to a “strong-buy” rating in a research note on Friday, October 18th. LADENBURG THALM/SH SH began coverage on shares of Serve Robotics in a research report on Monday, October 28th. They set a “buy” rating and a $16.00 price objective on the stock. Finally, Seaport Res Ptn upgraded shares of Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. Two research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Serve Robotics currently 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.