Man Group plc Buys Shares of 34,556 Serve Robotics Inc. (NASDAQ:SERV)

Man Group plc purchased a new stake in Serve Robotics Inc. (NASDAQ:SERV - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 34,556 shares of the company's stock, valued at approximately $467,000. Man Group plc owned 0.08% of Serve Robotics as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Atomi Financial Group Inc. acquired a new stake in Serve Robotics in the fourth quarter valued at $209,000. SG Americas Securities LLC acquired a new stake in Serve Robotics in the fourth quarter valued at $114,000. Blue Trust Inc. bought a new position in shares of Serve Robotics in the fourth quarter valued at about $27,000. Choreo LLC bought a new position in shares of Serve Robotics in the fourth quarter valued at about $202,000. Finally, Stephens Inc. AR bought a new position in shares of Serve Robotics in the fourth quarter valued at about $142,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SERV shares. Cantor Fitzgerald started coverage on shares of Serve Robotics in a research report on Thursday, May 22nd. They issued an "overweight" rating on the stock. Northland Securities set a $23.00 price target on shares of Serve Robotics in a research report on Tuesday, February 18th. Three investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Strong Buy" and a consensus target price of $18.67.

Insider Buying and Selling at Serve Robotics

In other news, CFO Brian Read sold 29,100 shares of Serve Robotics stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $7.06, for a total value of $205,446.00. Following the completion of the transaction, the chief financial officer now owns 240,900 shares in the company, valued at $1,700,754. This trade represents a 10.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 56,869 shares of company stock worth $440,227 over the last ninety days. 21.40% of the stock is currently owned by company insiders.

Serve Robotics Price Performance

Shares of NASDAQ SERV traded down $0.70 during trading on Friday, hitting $11.51. The stock had a trading volume of 5,823,701 shares, compared to its average volume of 9,947,880. Serve Robotics Inc. has a 12 month low of $1.82 and a 12 month high of $24.35. The firm has a fifty day moving average of $7.38 and a two-hundred day moving average of $11.00. The company has a market capitalization of $656.15 million and a PE ratio of -10.86.

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.