Serve Robotics Inc. (NASDAQ:SERV) Director David Michael Goldberg Sells 10,700 Shares

Serve Robotics Inc. (NASDAQ:SERV) Director David Michael Goldberg sold 10,700 shares of the stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $10.63, for a total value of $113,741.00. Following the completion of the sale, the director now owns 50,725 shares of the company’s stock, valued at $539,206.75. The trade was a 17.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Serve Robotics Trading Down 1.5%

Shares of Serve Robotics stock opened at $10.26 on Tuesday. The business has a 50-day moving average price of $9.24 and a two-hundred day moving average price of $11.33. Serve Robotics Inc. has a 1-year low of $1.82 and a 1-year high of $24.35. The company has a market cap of $584.92 million, a P/E ratio of -9.68 and a beta of 1.66.

Institutional Trading of Serve Robotics

A number of large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in shares of Serve Robotics by 13.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,728 shares of the company’s stock valued at $73,000 after buying an additional 1,545 shares during the period. Blue Trust Inc. acquired a new stake in shares of Serve Robotics in the 4th quarter valued at about $27,000. CIBC Private Wealth Group LLC bought a new position in Serve Robotics in the 4th quarter valued at about $34,000. Jefferies Financial Group Inc. lifted its position in Serve Robotics by 30.3% in the 4th quarter. Jefferies Financial Group Inc. now owns 17,200 shares of the company’s stock valued at $232,000 after acquiring an additional 4,000 shares in the last quarter. Finally, PFG Investments LLC lifted its position in Serve Robotics by 12.3% in the 1st quarter. PFG Investments LLC now owns 36,498 shares of the company’s stock valued at $210,000 after acquiring an additional 4,000 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald started coverage on Serve Robotics in a report on Thursday, May 22nd. They set an “overweight” rating for the company. Three research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Serve Robotics presently has an average rating of “Strong Buy” and a consensus target price of $18.67.

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.