Serve Robotics Inc. (NASDAQ:SERV) Director Sells $113,741.00 in Stock

Serve Robotics Inc. (NASDAQ:SERV) Director David Michael Goldberg sold 10,700 shares of the business’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $10.63, for a total value of $113,741.00. Following the sale, the director now directly owns 50,725 shares in the company, valued at $539,206.75. The trade was a 17.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Serve Robotics Price Performance

Shares of NASDAQ SERV opened at $10.23 on Thursday. The business’s 50 day moving average is $9.44 and its two-hundred day moving average is $11.32. Serve Robotics Inc. has a 1-year low of $1.82 and a 1-year high of $24.35. The stock has a market capitalization of $583.21 million, a P/E ratio of -9.65 and a beta of 1.67.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its position in shares of Serve Robotics by 280.4% during the first quarter. Goldman Sachs Group Inc. now owns 297,138 shares of the company’s stock valued at $1,709,000 after buying an additional 219,018 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Serve Robotics by 616.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 679,014 shares of the company’s stock valued at $3,972,000 after buying an additional 584,302 shares during the period. Bosun Asset Management LLC purchased a new position in shares of Serve Robotics during the first quarter valued at approximately $129,000. Cubist Systematic Strategies LLC purchased a new position in shares of Serve Robotics during the first quarter valued at approximately $2,064,000. Finally, PEAK6 LLC boosted its position in shares of Serve Robotics by 377.7% during the first quarter. PEAK6 LLC now owns 15,314 shares of the company’s stock valued at $88,000 after buying an additional 20,829 shares during the period.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald began coverage on Serve Robotics in a research note on Thursday, May 22nd. They set an “overweight” rating on the stock. Three analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Strong Buy” and an average price target of $18.67.

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.