Insider Buying: Serve Robotics Inc. (NASDAQ:SERV) CEO Acquires $20,550.00 in Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani bought 3,000 shares of Serve Robotics stock in a transaction that occurred on 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 purchase, the chief executive officer now 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, February 27th, Ali Kashani sold 3,713 shares of Serve Robotics stock. The stock was 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 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 shares were 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 shares were 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.

Serve Robotics Stock Performance

Shares of Serve Robotics stock traded down $0.51 during midday trading on Thursday, reaching $7.02. 3,500,119 shares of the company’s stock traded hands, compared to its average volume of 11,116,216. The company has a market cap of $310.97 million and a PE ratio of -5.85. The stock has a 50 day moving average of $14.87 and a 200-day moving average of $11.60. Serve Robotics Inc. has a 12 month low of $1.77 and a 12 month high of $24.35.

Analysts Set New Price Targets

Separately, Northland Securities set a $23.00 price objective on shares of Serve Robotics in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Strong Buy” and an average target price of $19.50.

Institutional Investors Weigh In On Serve Robotics

Several institutional investors and hedge funds have recently modified their holdings of SERV. Uber Technologies Inc purchased a new position in shares of Serve Robotics during the fourth quarter valued at about $71,534,000. Exchange Traded Concepts LLC purchased a new position in shares of Serve Robotics during the 4th quarter worth approximately $9,066,000. Vanguard Group Inc. raised its position in shares of Serve Robotics by 74.6% in the 4th quarter. Vanguard Group Inc. now owns 1,274,303 shares of the company’s stock worth $17,203,000 after acquiring an additional 544,537 shares in the last quarter. Legal & General Group Plc purchased a new position in shares of Serve Robotics in the 4th quarter valued at approximately $6,629,000. Finally, Captrust Financial Advisors bought a new stake in shares of Serve Robotics during the fourth quarter valued at 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.