OMERS ADMINISTRATION Corp Purchases Shares of 31,900 Serve Robotics Inc. (NASDAQ:SERV)

OMERS ADMINISTRATION Corp acquired a new position in shares of Serve Robotics Inc. (NASDAQ:SERV - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 31,900 shares of the company's stock, valued at approximately $431,000. OMERS ADMINISTRATION Corp owned about 0.07% of Serve Robotics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the stock. Blue Trust Inc. bought a new position in shares of Serve Robotics during the 4th quarter valued at approximately $27,000. CIBC Private Wealth Group LLC bought a new position in Serve Robotics during the fourth quarter valued at $34,000. Bogart Wealth LLC purchased a new stake in Serve Robotics in the fourth quarter worth $37,000. SG Americas Securities LLC bought a new stake in shares of Serve Robotics in the fourth quarter valued at $114,000. Finally, Stephens Inc. AR purchased a new position in shares of Serve Robotics during the 4th quarter valued at $142,000.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SERV shares. Cantor Fitzgerald assumed coverage on Serve Robotics in a report on Thursday. They issued an "overweight" rating and a $17.00 price objective for the company. Northland Securities set a $23.00 target price on shares of Serve Robotics in a research note on Tuesday, February 18th. Three research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Strong Buy" and a consensus price target of $18.67.

Insider Activity at Serve Robotics

In related news, CFO Brian Read sold 29,100 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $7.06, for a total transaction of $205,446.00. Following the sale, the chief financial officer now owns 240,900 shares of the company's stock, valued at approximately $1,700,754. This represents a 10.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ali Kashani sold 3,713 shares of the stock in a transaction that occurred 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 owns 3,225,852 shares in the company, valued at $29,710,096.92. This represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,834 shares of company stock worth $447,179. 5.50% of the stock is owned by company insiders.

Serve Robotics Price Performance

Shares of Serve Robotics stock traded up $2.03 during trading hours on Thursday, reaching $11.63. The company had a trading volume of 16,835,331 shares, compared to its average volume of 9,743,479. The firm has a market cap of $662.99 million and a PE ratio of -10.97. Serve Robotics Inc. has a one year low of $1.77 and a one year high of $24.35. The business has a fifty day simple moving average of $6.75 and a 200 day simple moving average of $10.87.

Serve Robotics Company 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.