Insider Buying: Serve Robotics Inc. (NASDAQ:SERV) CEO Purchases 3,000 Shares of Stock

Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) CEO Ali Kashani bought 3,000 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $6.85 per share, for a total transaction of $20,550.00. Following the transaction, the chief executive officer now directly owns 3,228,852 shares of the company's stock, valued at $22,117,636.20. The trade was a 0.09 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 value 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 value 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 transaction 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 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 stock was sold at an average price of $12.48, for a total transaction of $31,200.00.

Serve Robotics Price Performance

Shares of NASDAQ SERV traded up $0.64 during mid-day trading on Friday, hitting $7.66. 6,166,425 shares of the stock traded hands, compared to its average volume of 11,019,446. Serve Robotics Inc. has a twelve month low of $1.77 and a twelve month high of $24.35. The firm has a 50 day simple moving average of $14.49 and a two-hundred day simple moving average of $11.57. The company has a market cap of $339.32 million and a PE ratio of -6.38.

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Wall Street Analyst Weigh In

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

Institutional Trading of Serve Robotics

Hedge funds have recently made changes to their positions in the company. Uber Technologies Inc bought a new position in Serve Robotics in the 4th quarter valued at approximately $71,534,000. Vanguard Group Inc. increased its position in Serve Robotics by 74.6% in the 4th 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 during the period. Exchange Traded Concepts LLC bought a new position in shares of Serve Robotics during the fourth quarter valued at $9,066,000. Legal & General Group Plc acquired a new position in shares of Serve Robotics during the fourth quarter worth $6,629,000. Finally, Captrust Financial Advisors bought a new stake in shares of Serve Robotics in the fourth quarter worth $3,672,000.

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.