Geode Capital Management LLC Has $2.42 Million Position in Serve Robotics Inc. (NASDAQ:SERV)

Geode Capital Management LLC raised its holdings in Serve Robotics Inc. (NASDAQ:SERV - Free Report) by 36.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 178,780 shares of the company's stock after acquiring an additional 47,927 shares during the quarter. Geode Capital Management LLC owned 0.40% of Serve Robotics worth $2,415,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Transactions at Serve Robotics

In related news, CEO Ali Kashani sold 3,713 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $29,710,096.92. The trade was a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 11,369 shares of company stock valued at $90,704. Company insiders own 21.40% of the company's stock.

Analyst Ratings Changes

Separately, Northland Securities set a $23.00 target price on Serve Robotics in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Serve Robotics has a consensus rating of "Strong Buy" and an average price target of $19.50.

Serve Robotics Stock Down 4.3 %

SERV traded down $0.28 during trading on Wednesday, reaching $6.17. 2,760,641 shares of the company's stock were exchanged, compared to its average volume of 9,331,350. The company has a market capitalization of $351.18 million and a P/E ratio of -5.14. The business has a 50 day moving average price of $6.88 and a 200 day moving average price of $11.08. Serve Robotics Inc. has a fifty-two week low of $1.77 and a fifty-two week high of $24.35.

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.