Legal & General Group Plc bought a new position in shares of Serve Robotics Inc. (NASDAQ:SERV - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 447,164 shares of the company's stock, valued at approximately $6,629,000. Legal & General Group Plc owned about 1.01% of Serve Robotics as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Blue Trust Inc. purchased a new stake in shares of Serve Robotics during the 4th quarter worth approximately $27,000. CIBC Private Wealth Group LLC purchased a new stake in Serve Robotics in the fourth quarter valued at $34,000. Bogart Wealth LLC acquired a new position in Serve Robotics in the fourth quarter valued at $37,000. SG Americas Securities LLC purchased a new position in shares of Serve Robotics during the fourth quarter worth about $114,000. Finally, Stephens Inc. AR acquired a new stake in shares of Serve Robotics during the fourth quarter worth about $142,000.
Wall Street Analysts Forecast Growth
Separately, Northland Securities set a $23.00 price target on Serve Robotics in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Strong Buy" and an average price target of $19.50.
Get Our Latest Stock Report on Serve Robotics
Serve Robotics Stock Performance
NASDAQ SERV traded up $0.50 during trading on Thursday, reaching $6.40. The company's stock had a trading volume of 3,485,968 shares, compared to its average volume of 9,242,046. The business's fifty day moving average price is $7.40 and its 200-day moving average price is $11.15. Serve Robotics Inc. has a twelve month low of $1.77 and a twelve month high of $24.35. The firm has a market cap of $363.99 million and a price-to-earnings ratio of -5.32.
Insider Activity at Serve Robotics
In related news, CEO Ali Kashani sold 3,713 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $9.21, for a total transaction of $34,196.73. Following the completion of the sale, the chief executive officer now directly owns 3,225,852 shares of the company's stock, valued at $29,710,096.92. This trade represents a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 11,369 shares of company stock worth $90,704 in the last quarter. Company insiders own 21.40% of the company's stock.
Serve Robotics Company Profile
(
Free Report)
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.
Read More
Before you consider Serve Robotics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Serve Robotics wasn't on the list.
While Serve Robotics currently has a Strong Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
