Serve Robotics Inc. (NASDAQ:SERV) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of Serve Robotics Inc. (NASDAQ:SERV) by 36.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 178,780 shares of the company’s stock after acquiring an additional 47,927 shares during the quarter. Geode Capital Management LLC’s holdings in Serve Robotics were worth $2,415,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. purchased a new stake in Serve Robotics in the 4th quarter valued at about $27,000. CIBC Private Wealth Group LLC purchased a new stake in Serve Robotics in the 4th quarter valued at about $34,000. Bogart Wealth LLC purchased a new stake in Serve Robotics in the 4th quarter valued at about $37,000. SG Americas Securities LLC purchased a new stake in Serve Robotics in the 4th quarter valued at about $114,000. Finally, Stephens Inc. AR purchased a new stake in Serve Robotics in the 4th quarter valued at about $142,000.

Analysts Set New Price Targets

Separately, Northland Securities set a $23.00 price objective on shares of Serve Robotics in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Serve Robotics currently has a consensus rating of “Strong Buy” and a consensus target price of $19.50.

Insider Buying and Selling

In related news, CEO Ali Kashani sold 3,713 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $9.21, for a total value of $34,196.73. Following the completion of the transaction, the chief executive officer now directly owns 3,225,852 shares of the company’s stock, valued at $29,710,096.92. This represents a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 11,369 shares of company stock worth $90,704. Company insiders own 21.40% of the company’s stock.

Serve Robotics Stock Performance

SERV stock opened at $6.64 on Tuesday. The company’s 50 day moving average price is $7.01 and its 200 day moving average price is $11.11. Serve Robotics Inc. has a fifty-two week low of $1.77 and a fifty-two week high of $24.35. The firm has a market capitalization of $377.94 million and a price-to-earnings ratio of -5.53.

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.