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52,500 Shares in Serve Robotics Inc. (NASDAQ:SERV) Acquired by 683 Capital Management LLC

Serve Robotics logo with Computer and Technology background

683 Capital Management LLC bought a new stake in Serve Robotics Inc. (NASDAQ:SERV - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 52,500 shares of the company's stock, valued at approximately $709,000. 683 Capital Management LLC owned about 0.12% of Serve Robotics as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SERV. Uber Technologies Inc bought a new stake in Serve Robotics in the fourth quarter worth $71,534,000. Vanguard Group Inc. increased its stake in Serve Robotics by 74.6% in the 4th quarter. Vanguard Group Inc. now owns 1,274,303 shares of the company's stock worth $17,203,000 after purchasing an additional 544,537 shares during the period. Exchange Traded Concepts LLC purchased a new stake in shares of Serve Robotics during the fourth quarter valued at approximately $9,066,000. Legal & General Group Plc purchased a new position in shares of Serve Robotics in the fourth quarter worth $6,629,000. Finally, Geode Capital Management LLC raised its holdings in Serve Robotics by 36.6% during the 4th quarter. Geode Capital Management LLC now owns 178,780 shares of the company's stock valued at $2,415,000 after buying an additional 47,927 shares during the last quarter.

Serve Robotics Stock Performance

Shares of Serve Robotics stock traded down $0.17 during midday trading on Wednesday, reaching $6.08. 1,304,893 shares of the company's stock traded hands, compared to its average volume of 9,358,100. The stock has a 50 day moving average of $6.51 and a 200-day moving average of $10.99. Serve Robotics Inc. has a 12 month low of $1.77 and a 12 month high of $24.35. The company has a market cap of $346.72 million and a PE ratio of -5.09.

Wall Street Analyst Weigh In

Separately, Northland Securities set a $23.00 price objective on shares of Serve Robotics in a research 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 stock. According to MarketBeat, the company currently has a consensus rating of "Strong Buy" and a consensus price target of $19.50.

Check Out Our Latest Research Report on SERV

Insider Buying and Selling at Serve Robotics

In related news, CEO Ali Kashani sold 3,713 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $9.21, for a total transaction of $34,196.73. Following the transaction, the chief executive officer now owns 3,225,852 shares in the company, valued at $29,710,096.92. The trade was a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian Read sold 29,100 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $7.06, for a total transaction of $205,446.00. Following the completion of the transaction, the chief financial officer now directly owns 240,900 shares of the company's stock, valued at approximately $1,700,754. The trade was a 10.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,469 shares of company stock valued at $296,150. 21.40% of the stock is currently owned by company insiders.

Serve Robotics 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.

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Institutional Ownership by Quarter for Serve Robotics (NASDAQ:SERV)

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