Capital Fund Management S.A. Acquires Shares of 738,028 Serve Robotics Inc. $SERV

Capital Fund Management S.A. acquired a new stake in Serve Robotics Inc. (NASDAQ:SERV - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 738,028 shares of the company's stock, valued at approximately $4,244,000. Capital Fund Management S.A. owned about 1.29% of Serve Robotics at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Uber Technologies Inc acquired a new stake in shares of Serve Robotics in the 4th quarter valued at about $71,534,000. Man Group plc acquired a new stake in shares of Serve Robotics in the 4th quarter valued at about $467,000. Geode Capital Management LLC raised its stake in shares of Serve Robotics by 36.6% in the 4th quarter. Geode Capital Management LLC now owns 178,780 shares of the company's stock valued at $2,415,000 after purchasing an additional 47,927 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in shares of Serve Robotics in the 4th quarter valued at about $431,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Serve Robotics in the 4th quarter valued at about $1,978,000.

Insiders Place Their Bets

In other Serve Robotics news, Director David Michael Goldberg sold 10,700 shares of the company's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $10.63, for a total value of $113,741.00. Following the completion of the sale, the director directly owned 50,725 shares of the company's stock, valued at approximately $539,206.75. This represents a 17.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Touraj Parang sold 5,565 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $10.64, for a total transaction of $59,211.60. Following the transaction, the chief operating officer owned 1,419,106 shares of the company's stock, valued at approximately $15,099,287.84. This trade represents a 0.39% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,182 shares of company stock valued at $459,302. 5.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SERV shares. Seaport Res Ptn lowered shares of Serve Robotics from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 11th. Cantor Fitzgerald started coverage on Serve Robotics in a report on Thursday, May 22nd. They set an "overweight" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Serve Robotics currently has a consensus rating of "Buy" and an average price target of $18.67.

Serve Robotics Trading Up 5.0%

SERV opened at $9.71 on Friday. The business's 50 day moving average is $10.67 and its 200-day moving average is $9.68. The stock has a market cap of $581.43 million, a PE ratio of -8.44 and a beta of -0.11. Serve Robotics Inc. has a twelve month low of $4.66 and a twelve month high of $24.35.

Serve Robotics (NASDAQ:SERV - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.13). The firm had revenue of $0.64 million for the quarter, compared to the consensus estimate of $0.63 million. Serve Robotics had a negative return on equity of 36.47% and a negative net margin of 3,726.00%. As a group, analysts forecast that Serve Robotics Inc. will post -0.98 EPS for the current year.

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.

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