Serve Robotics Inc. (NASDAQ:SERV) CEO Sells $15,145.35 in Stock

Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) CEO Ali Kashani sold 2,055 shares of the firm'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 transaction, the chief executive officer now owns 3,226,797 shares in the company, valued at $23,781,493.89. This trade represents a 0.06 % 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.

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

• On Tuesday, March 11th, Ali Kashani bought 3,000 shares of Serve Robotics stock. The shares were acquired at an average cost of $6.85 per share, for a total transaction of $20,550.00.
• On Thursday, February 27th, Ali Kashani sold 3,713 shares of Serve Robotics stock. The shares were 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 value of $36,750.00.

Serve Robotics Trading Up 11.1 %

SERV traded up $0.78 during trading hours on Monday, hitting $7.79. The company's stock had a trading volume of 5,048,526 shares, compared to its average volume of 9,623,157. The company has a 50-day simple moving average of $13.20 and a 200 day simple moving average of $11.55. The firm has a market capitalization of $443.39 million and a PE ratio of -6.49. Serve Robotics Inc. has a fifty-two week low of $1.77 and a fifty-two week high of $24.35.

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Analyst Upgrades and Downgrades

Separately, Northland Securities set a $23.00 price objective on shares of Serve Robotics in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Strong Buy" and a consensus price target of $19.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Uber Technologies Inc acquired a new stake in Serve Robotics in the fourth quarter worth about $71,534,000. Exchange Traded Concepts LLC acquired a new stake in shares of Serve Robotics in the 4th quarter worth approximately $9,066,000. Vanguard Group Inc. boosted its holdings 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 valued at $17,203,000 after acquiring an additional 544,537 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of Serve Robotics during the fourth quarter valued at approximately $6,629,000. Finally, Captrust Financial Advisors bought a new stake in Serve Robotics during the fourth quarter worth approximately $3,672,000.

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.