Serve Robotics Inc. (NASDAQ:SERV) CFO Brian Read Sells 29,100 Shares

Serve Robotics Inc. (NASDAQ:SERV) CFO Brian Read sold 29,100 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $7.06, for a total transaction of $205,446.00. Following the completion of the transaction, the chief financial officer now directly owns 240,900 shares of the company’s stock, valued at $1,700,754. This trade represents a 10.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Serve Robotics Stock Down 1.4 %

NASDAQ SERV opened at $6.25 on Wednesday. The firm has a market cap of $356.29 million and a PE ratio of -5.21. Serve Robotics Inc. has a 52 week low of $1.77 and a 52 week high of $24.35. The company has a 50 day moving average price of $6.51 and a 200 day moving average price of $10.99.

Institutional Trading of Serve Robotics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. purchased a new position in Serve Robotics during the 4th quarter worth $27,000. CIBC Private Wealth Group LLC acquired a new position in shares of Serve Robotics during the fourth quarter valued at about $34,000. Bogart Wealth LLC purchased a new position in shares of Serve Robotics in the 4th quarter valued at approximately $37,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Serve Robotics in the 1st quarter worth approximately $49,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Serve Robotics during the 1st quarter worth approximately $49,000.

Wall Street Analysts Forecast Growth

Separately, Northland Securities set a $23.00 price objective on Serve Robotics in a research note on Tuesday, February 18th. Two analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Strong Buy” and a consensus target price of $19.50.

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.