Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani Sells 2,055 Shares of Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 2,055 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $7.37, for a total value of $15,145.35. Following the completion of the transaction, the chief executive officer now directly owns 3,226,797 shares of the company’s stock, valued at approximately $23,781,493.89. This trade represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, March 11th, Ali Kashani acquired 3,000 shares of Serve Robotics stock. The shares were bought at an average price of $6.85 per share, with a total value of $20,550.00.
• On Thursday, February 27th, Ali Kashani sold 3,713 shares of Serve Robotics stock. The stock was sold at an average price of $9.21, for a total transaction of $34,196.73.
• On Monday, January 6th, Ali Kashani sold 37,500 shares of Serve Robotics stock. The stock was sold at an average price of $21.16, for a total transaction of $793,500.00.
• On Friday, January 3rd, Ali Kashani sold 7,500 shares of Serve Robotics stock. The shares were sold at an average price of $17.23, for a total value of $129,225.00.
• 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 value of $123,750.00.
• On Tuesday, December 24th, Ali Kashani sold 5,000 shares of Serve Robotics stock. The stock was 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 shares were sold at an average price of $14.70, for a total transaction of $36,750.00.

Serve Robotics Trading Down 6.4 %

NASDAQ SERV opened at $6.93 on Friday. The company’s fifty day simple moving average is $13.57 and its 200-day simple moving average is $11.51. The stock has a market cap of $394.44 million and a P/E ratio of -5.78. Serve Robotics Inc. has a 52 week low of $1.77 and a 52 week high of $24.35.

Hedge Funds Weigh In On Serve Robotics

A number of institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. acquired a new position in shares of Serve Robotics in the fourth quarter worth about $27,000. CIBC Private Wealth Group LLC purchased a new stake in Serve Robotics during the 4th quarter worth approximately $34,000. Bogart Wealth LLC acquired a new position in shares of Serve Robotics in the 4th quarter valued at approximately $37,000. Larson Financial Group LLC purchased a new position in shares of Serve Robotics during the 3rd quarter valued at approximately $26,000. Finally, Jefferies Financial Group Inc. increased its stake in shares of Serve Robotics by 30.3% in the fourth quarter. Jefferies Financial Group Inc. now owns 17,200 shares of the company’s stock worth $232,000 after buying an additional 4,000 shares during the last quarter.

Analyst Upgrades and Downgrades

Separately, Northland Securities set a $23.00 price target on shares of Serve Robotics in a research report on Tuesday, February 18th. Two analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Strong Buy” and an average target price of $19.50.

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.