Evan Dunn Sells 2,015 Shares of Serve Robotics Inc. (NASDAQ:SERV) Stock

Key Points

• Evan Dunn, General Counsel of Serve Robotics Inc., sold 2,015 shares at an average price of $10.68, totaling $21,520.20, which resulted in a 0.85% decrease in his holdings.
• Following the sale, Dunn owns 235,767 shares valued at approximately $2.5 million, with the company's shares currently trading at $10.44.
• Serve Robotics has recently received an "overweight" rating from Cantor Fitzgerald and has an average target price of $18.67, reflecting a positive outlook from analysts.

Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) General Counsel Evan Dunn sold 2,015 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $10.68, for a total value of $21,520.20. Following the completion of the transaction, the general counsel owned 235,767 shares in the company, valued at $2,517,991.56. This represents a 0.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Serve Robotics Trading Down 2.8%

NASDAQ:SERV traded down $0.30 during trading hours on Wednesday, reaching $10.44. 3,381,547 shares of the company traded hands, compared to its average volume of 5,242,447. The business's 50-day moving average price is $11.18 and its two-hundred day moving average price is $10.33. The stock has a market capitalization of $595.18 million, a P/E ratio of -9.85 and a beta of -0.11. Serve Robotics Inc. has a 1 year low of $4.66 and a 1 year high of $24.35.

Analyst Ratings Changes

Separately, Cantor Fitzgerald assumed coverage on Serve Robotics in a research note on Thursday, May 22nd. They set an "overweight" rating on the stock. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Serve Robotics currently has an average rating of "Buy" and an average target price of $18.67.

Institutional Trading of Serve Robotics

Large investors have recently modified their holdings of the company. Uber Technologies Inc purchased a new stake in Serve Robotics during the 4th quarter valued at approximately $71,534,000. Capital Fund Management S.A. purchased a new stake in shares of Serve Robotics in the first quarter worth about $4,244,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Serve Robotics by 616.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 679,014 shares of the company's stock worth $3,972,000 after buying an additional 584,302 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Serve Robotics by 74.6% in the fourth quarter. Vanguard Group Inc. now owns 1,274,303 shares of the company's stock worth $17,203,000 after buying an additional 544,537 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of Serve Robotics in the fourth quarter worth about $6,629,000.

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.

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