Ali Kashani Sells 12,930 Shares of Serve Robotics (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 12,930 shares of the stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $15.08, for a total transaction of $194,984.40. Following the completion of the transaction, the chief executive officer directly owned 3,421,072 shares in the company, valued at $51,589,765.76. The trade was a 0.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, September 8th, Ali Kashani sold 164,735 shares of Serve Robotics stock. The stock was sold at an average price of $10.33, for a total transaction of $1,701,712.55.
• On Tuesday, August 5th, Ali Kashani sold 7,467 shares of Serve Robotics stock. The stock was sold at an average price of $10.74, for a total transaction of $80,195.58.

Serve Robotics Stock Performance

Shares of Serve Robotics stock opened at $13.74 on Thursday. Serve Robotics Inc. has a 52-week low of $4.66 and a 52-week high of $24.35. The stock has a market capitalization of $822.75 million, a price-to-earnings ratio of -11.95 and a beta of -0.70. The company has a fifty day moving average of $11.26 and a 200-day moving average of $9.85.

Serve Robotics (NASDAQ:SERV) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.13). Serve Robotics had a negative net margin of 3,726.00% and a negative return on equity of 36.47%. The business had revenue of $0.64 million during the quarter, compared to analysts’ expectations of $0.63 million. On average, equities research analysts forecast that Serve Robotics Inc. will post -0.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SERV shares. Seaport Res Ptn lowered shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 11th. Singular Research upgraded shares of Serve Robotics to a “moderate buy” rating in a report on Tuesday, August 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Serve Robotics in a report on Wednesday. Finally, Wedbush started coverage on shares of Serve Robotics in a report on Wednesday, August 27th. They set an “outperform” rating and a $15.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.75.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC increased its stake in shares of Serve Robotics by 12.9% in the 2nd quarter. Exchange Traded Concepts LLC now owns 996,283 shares of the company’s stock worth $11,397,000 after acquiring an additional 113,761 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Serve Robotics by 176.0% in the 2nd quarter. Geode Capital Management LLC now owns 878,668 shares of the company’s stock worth $10,054,000 after acquiring an additional 560,361 shares in the last quarter. Capital Fund Management S.A. bought a new position in shares of Serve Robotics in the 1st quarter worth about $4,244,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Serve Robotics by 6.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 721,826 shares of the company’s stock worth $8,258,000 after acquiring an additional 42,812 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Serve Robotics by 14.9% in the 2nd quarter. Legal & General Group Plc now owns 693,929 shares of the company’s stock worth $7,261,000 after acquiring an additional 89,809 shares in the last quarter.

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.