Insider Selling: Serve Robotics Inc. (NASDAQ:SERV) COO Sells 1,365 Shares of Stock

Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang sold 1,365 shares of Serve Robotics stock in a transaction on Monday, November 25th. The stock was sold at an average price of $8.76, for a total transaction of $11,957.40. Following the completion of the transaction, the chief operating officer now owns 1,200,956 shares in the company, valued at $10,520,374.56. This trade represents a 0.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Touraj Parang also recently made the following trade(s):

• On Thursday, November 21st, Touraj Parang sold 245 shares of Serve Robotics stock. The stock was sold at an average price of $8.84, for a total transaction of $2,165.80.

Serve Robotics Price Performance

NASDAQ:SERV traded down $0.19 on Wednesday, reaching $8.59. The stock had a trading volume of 3,187,323 shares, compared to its average volume of 9,206,904. Serve Robotics Inc. has a 1-year low of $1.77 and a 1-year high of $24.09. The stock has a fifty day moving average price of $9.02 and a 200-day moving average price of $7.28.

Hedge Funds Weigh In On Serve Robotics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC acquired a new position in Serve Robotics in the third quarter valued at about $262,000. Geode Capital Management LLC lifted its holdings in Serve Robotics by 128.1% in the third quarter. Geode Capital Management LLC now owns 130,853 shares of the company’s stock valued at $1,041,000 after buying an additional 73,496 shares during the period. Gordian Capital Singapore Pte Ltd acquired a new position in Serve Robotics in the third quarter valued at approximately $68,000. State Street Corp acquired a new position in Serve Robotics in the third quarter valued at approximately $333,000. Finally, Quadrature Capital Ltd acquired a new position in Serve Robotics in the third quarter valued at approximately $148,000.

Analyst Ratings Changes

SERV has been the topic of several research reports. Northland Capmk upgraded shares of Serve Robotics to a “strong-buy” rating in a report on Friday, October 18th. LADENBURG THALM/SH SH started coverage on shares of Serve Robotics in a research note on Monday, October 28th. They issued a “buy” rating and a $16.00 target price on the stock. Northland Securities started coverage on shares of Serve Robotics in a research note on Friday, October 18th. They issued an “outperform” rating and a $16.00 target price on the stock. Finally, Seaport Res Ptn raised shares of Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th. Two research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Strong Buy” and an average target price 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.