Ali Kashani Sells 9,088 Shares of Serve Robotics (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 9,088 shares of the firm’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $14.30, for a total transaction of $129,958.40. Following the completion of the sale, the chief executive officer owned 3,365,774 shares of the company’s stock, valued at approximately $48,130,568.20. The trade was a 0.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, December 11th, Ali Kashani sold 16,730 shares of Serve Robotics stock. The stock was sold at an average price of $11.87, for a total value of $198,585.10.
• On Thursday, November 6th, Ali Kashani sold 16,170 shares of Serve Robotics stock. The shares were sold at an average price of $10.78, for a total value of $174,312.60.
• On Wednesday, November 5th, Ali Kashani sold 13,310 shares of Serve Robotics stock. The stock was sold at an average price of $11.63, for a total transaction of $154,795.30.

Serve Robotics Trading Down 4.5%

Shares of SERV traded down $0.70 during trading hours on Friday, reaching $14.71. The company had a trading volume of 12,323,945 shares, compared to its average volume of 11,877,606. Serve Robotics Inc. has a 12-month low of $4.66 and a 12-month high of $23.10. The firm has a 50 day simple moving average of $10.98 and a 200-day simple moving average of $11.50. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -9.87 and a beta of 0.27.

Serve Robotics (NASDAQ:SERV) last issued its earnings results on Wednesday, November 12th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.17). Serve Robotics had a negative return on equity of 38.52% and a negative net margin of 4,121.58%.The company had revenue of $0.69 million for the quarter, compared to analyst estimates of $0.69 million. Sell-side analysts forecast that Serve Robotics Inc. will post -0.98 earnings per share for the current year.

Hedge Funds Weigh In On Serve Robotics

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP acquired a new position in shares of Serve Robotics in the 3rd quarter valued at $8,840,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Serve Robotics by 616.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 679,014 shares of the company’s stock valued at $3,972,000 after acquiring an additional 584,302 shares during the period. Geode Capital Management LLC increased its stake in Serve Robotics by 176.0% during the second 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 during the last quarter. Vanguard Group Inc. lifted its stake in shares of Serve Robotics by 25.2% in the 3rd quarter. Vanguard Group Inc. now owns 2,594,869 shares of the company’s stock valued at $30,178,000 after purchasing an additional 521,945 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Serve Robotics by 157.9% during the 2nd quarter. Bank of America Corp DE now owns 401,557 shares of the company’s stock worth $4,594,000 after purchasing an additional 245,858 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SERV shares. Northland Securities reaffirmed an “outperform” rating and set a $26.00 price target on shares of Serve Robotics in a research note on Friday, January 2nd. Loop Capital set a $16.00 target price on Serve Robotics in a research note on Wednesday, December 31st. Freedom Capital upgraded Serve Robotics to a “strong-buy” rating in a report on Wednesday, December 31st. Citigroup reissued an “outperform” rating on shares of Serve Robotics in a report on Monday, October 13th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Serve Robotics in a research report on Monday, November 17th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.80.

Serve Robotics Company Profile

Serve Robotics develops and operates autonomous sidewalk delivery robots designed to transform last-mile logistics for restaurants, retailers and grocery brands. By combining proprietary hardware, sensor suites and dispatch software, the company enables on-demand deliveries of food, beverages and consumer goods while minimizing reliance on traditional vehicle fleets.

The core Serve robot integrates four-wheeled mobility, LiDAR and vision cameras with AI-driven navigation algorithms to detect obstacles, traverse urban sidewalks and interact safely with pedestrians.