Stephens Inc. AR Takes Position in Serve Robotics Inc. (NASDAQ:SERV)

Stephens Inc. AR bought a new position in shares of Serve Robotics Inc. (NASDAQ:SERV) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,550 shares of the company’s stock, valued at approximately $142,000.

A number of other large investors also recently modified their holdings of the company. Blue Trust Inc. acquired a new position in Serve Robotics during the fourth quarter worth $27,000. Larson Financial Group LLC acquired a new stake in shares of Serve Robotics in the 3rd quarter worth about $26,000. SG Americas Securities LLC bought a new position in Serve Robotics in the 4th quarter valued at about $114,000. Gordian Capital Singapore Pte Ltd bought a new position in Serve Robotics in the 3rd quarter valued at about $68,000. Finally, Quantum Private Wealth LLC acquired a new position in Serve Robotics during the 3rd quarter valued at about $80,000.

Insider Buying and Selling at Serve Robotics

In related news, CEO Ali Kashani sold 9,719 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $8.77, for a total transaction of $85,235.63. Following the completion of the sale, the chief executive officer now owns 3,355,238 shares in the company, valued at approximately $29,425,437.26. This trade represents a 0.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Touraj Parang sold 50,000 shares of Serve Robotics stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $12.99, for a total transaction of $649,500.00. Following the completion of the sale, the chief operating officer now directly owns 1,163,439 shares in the company, valued at approximately $15,113,072.61. This represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 251,555 shares of company stock worth $3,297,405 in the last quarter. 21.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Northland Securities raised their target price on Serve Robotics from $16.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. LADENBURG THALM/SH SH started coverage on Serve Robotics in a research note on Monday, October 28th. They set a “buy” rating and a $16.00 price objective on the stock. Two analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Strong Buy” and a consensus target price of $19.50.

Serve Robotics Stock Down 39.6 %

Shares of SERV opened at $13.85 on Monday. The stock has a 50 day moving average of $16.52 and a 200 day moving average of $11.96. Serve Robotics Inc. has a 12 month low of $1.77 and a 12 month high of $24.35.

Serve Robotics 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.