Captrust Financial Advisors Purchases Shares of 271,994 Serve Robotics Inc. (NASDAQ:SERV)

Captrust Financial Advisors acquired a new stake in shares of Serve Robotics Inc. (NASDAQ:SERV - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 271,994 shares of the company's stock, valued at approximately $3,672,000. Captrust Financial Advisors owned about 0.61% of Serve Robotics at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Uber Technologies Inc purchased a new position in Serve Robotics during the 4th quarter worth $71,534,000. Exchange Traded Concepts LLC purchased a new stake in Serve Robotics during the fourth quarter worth about $9,066,000. Vanguard Group Inc. raised its position in Serve Robotics by 74.6% during the fourth quarter. Vanguard Group Inc. now owns 1,274,303 shares of the company's stock worth $17,203,000 after acquiring an additional 544,537 shares during the last quarter. Legal & General Group Plc acquired a new position in Serve Robotics during the fourth quarter worth about $6,629,000. Finally, Raymond James Financial Inc. acquired a new position in Serve Robotics during the fourth quarter worth about $1,978,000.

Serve Robotics Price Performance

Shares of SERV stock traded up $0.92 during trading hours on Friday, reaching $10.31. The stock had a trading volume of 6,366,649 shares, compared to its average volume of 9,596,830. The firm has a 50-day simple moving average of $6.51 and a 200-day simple moving average of $10.89. The firm has a market capitalization of $587.57 million and a PE ratio of -9.78. Serve Robotics Inc. has a twelve month low of $1.77 and a twelve month high of $24.35.

Insider Transactions at Serve Robotics

In other news, CEO Ali Kashani sold 3,713 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $9.21, for a total value of $34,196.73. Following the sale, the chief executive officer now owns 3,225,852 shares in the company, valued at approximately $29,710,096.92. The trade was a 0.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian Read sold 7,000 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $8.03, for a total transaction of $56,210.00. Following the transaction, the chief financial officer now owns 233,900 shares in the company, valued at approximately $1,878,217. The trade was a 2.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,834 shares of company stock valued at $447,179 over the last ninety days. Corporate insiders own 5.50% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Northland Securities set a $23.00 target price on shares of Serve Robotics in a report on Tuesday, February 18th. Two analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Strong Buy" and an average target price of $19.50.

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.