Ali Kashani Sells 9,719 Shares of Serve Robotics Inc. (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 9,719 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $8.77, for a total transaction of $85,235.63. Following the transaction, the chief executive officer now owns 3,355,238 shares in the company, valued at $29,425,437.26. This represents a 0.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, November 21st, Ali Kashani sold 1,109 shares of Serve Robotics stock. The stock was sold at an average price of $8.79, for a total value of $9,748.11.

Serve Robotics Price Performance

NASDAQ:SERV opened at $8.59 on Friday. The stock has a 50 day simple moving average of $9.03 and a 200 day simple moving average of $7.29. Serve Robotics Inc. has a 1-year low of $1.77 and a 1-year high of $24.09.

Institutional Investors Weigh In On Serve Robotics

A number of hedge funds and other institutional investors have recently modified their holdings of SERV. Larson Financial Group LLC acquired a new position in shares of Serve Robotics in the third quarter valued at about $26,000. Bfsg LLC bought a new stake in Serve Robotics in the 3rd quarter valued at about $38,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Serve Robotics during the 3rd quarter worth approximately $68,000. Quantum Private Wealth LLC bought a new position in shares of Serve Robotics during the third quarter worth approximately $80,000. Finally, PFG Investments LLC acquired a new stake in shares of Serve Robotics in the second quarter valued at approximately $110,000.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Northland Capmk upgraded Serve Robotics to a “strong-buy” rating in a research note on Friday, October 18th. Seaport Res Ptn raised shares of Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th. LADENBURG THALM/SH SH started coverage on shares of Serve Robotics in a research report on Monday, October 28th. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, Northland Securities started coverage on shares of Serve Robotics in a report on Friday, October 18th. They set an “outperform” rating and a $16.00 target price for the company. 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 presently has a consensus rating of “Strong Buy” and a consensus price target of $16.00.

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.