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

Geode Capital Management LLC boosted its position in Serve Robotics Inc. (NASDAQ:SERV - Free Report) by 36.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 178,780 shares of the company's stock after purchasing an additional 47,927 shares during the quarter. Geode Capital Management LLC owned about 0.40% of Serve Robotics worth $2,415,000 at the end of the most recent reporting period.

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

Insider Activity at Serve Robotics

In other Serve Robotics news, CEO Ali Kashani sold 3,713 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $9.21, for a total value of $34,196.73. Following the completion of the transaction, the chief executive officer now directly owns 3,225,852 shares in the company, valued at approximately $29,710,096.92. This trade represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 11,369 shares of company stock valued at $90,704 in the last 90 days. 21.40% of the stock is owned by corporate insiders.

Serve Robotics Trading Up 13.3 %

Serve Robotics stock traded up $0.83 during mid-day trading on Friday, reaching $7.05. The company had a trading volume of 6,699,547 shares, compared to its average volume of 9,402,310. The business has a fifty day simple moving average of $6.62 and a 200 day simple moving average of $11.03. The company has a market cap of $401.90 million and a P/E ratio of -5.88. Serve Robotics Inc. has a fifty-two week low of $1.77 and a fifty-two week high of $24.35.

Wall Street Analysts Forecast Growth

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

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.