Insider Selling: Serve Robotics Inc. (NASDAQ:SERV) CEO Sells 3,713 Shares of Stock

Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) CEO Ali Kashani sold 3,713 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $9.21, for a total value of $34,196.73. Following the completion of the transaction, the chief executive officer now directly owns 3,225,852 shares of the company's stock, valued at approximately $29,710,096.92. The trade was a 0.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 stock was sold at an average price of $17.23, for a total transaction of $129,225.00.
• On Thursday, December 26th, Ali Kashani sold 7,500 shares of Serve Robotics stock. The shares were sold at an average price of $16.50, for a total transaction 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 transaction 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 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.

Serve Robotics Stock Performance

Shares of NASDAQ:SERV traded up $0.24 during mid-day trading on Tuesday, hitting $8.61. The company had a trading volume of 3,775,270 shares, compared to its average volume of 12,110,123. Serve Robotics Inc. has a one year low of $1.77 and a one year high of $24.35. The firm has a fifty day moving average price of $15.90 and a 200 day moving average price of $11.77.

Institutional Investors Weigh In On Serve Robotics

Several hedge funds and other institutional investors have recently bought and sold shares of SERV. Blue Trust Inc. acquired a new stake in shares of Serve Robotics in the 4th quarter valued at about $27,000. CIBC Private Wealth Group LLC bought a new position in Serve Robotics in the fourth quarter worth approximately $34,000. Bogart Wealth LLC acquired a new stake in Serve Robotics in the fourth quarter valued at approximately $37,000. Larson Financial Group LLC acquired a new stake in Serve Robotics in the third quarter valued at approximately $26,000. Finally, Jefferies Financial Group Inc. increased its holdings in shares of Serve Robotics by 30.3% during the fourth quarter. Jefferies Financial Group Inc. now owns 17,200 shares of the company's stock valued at $232,000 after acquiring an additional 4,000 shares in the last quarter.

Analysts Set New Price Targets

Separately, Northland Securities set a $23.00 price objective on Serve Robotics in a research note on Tuesday, February 18th. Two research 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.com, Serve Robotics presently has an average rating of "Strong Buy" and a consensus 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.