Schonfeld Strategic Advisors LLC Buys Shares of 100,309 Serve Robotics Inc. (NASDAQ:SERV)

Schonfeld Strategic Advisors LLC acquired a new stake in shares of Serve Robotics Inc. (NASDAQ:SERV - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 100,309 shares of the company's stock, valued at approximately $1,354,000. Schonfeld Strategic Advisors LLC owned about 0.23% of Serve Robotics at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in Serve Robotics by 128.1% in the third quarter. Geode Capital Management LLC now owns 130,853 shares of the company's stock valued at $1,041,000 after acquiring an additional 73,496 shares during the period. Tidal Investments LLC bought a new position in Serve Robotics in the third quarter worth approximately $262,000. Harbour Capital Advisors LLC boosted its stake in shares of Serve Robotics by 102.4% during the 4th quarter. Harbour Capital Advisors LLC now owns 50,365 shares of the company's stock worth $680,000 after acquiring an additional 25,475 shares during the last quarter. Atomi Financial Group Inc. bought a new stake in shares of Serve Robotics during the 4th quarter valued at $209,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Serve Robotics in the 4th quarter worth $114,000.

Insider Buying and Selling

In other Serve Robotics news, CEO Ali Kashani sold 3,713 shares of Serve Robotics stock in a transaction on Thursday, February 27th. The shares were 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 of the company's stock, valued at $29,710,096.92. This trade represents a 0.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Brian Read sold 7,000 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $8.03, for a total transaction of $56,210.00. Following the sale, the chief financial officer now owns 233,900 shares in the company, valued at $1,878,217. This represents a 2.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,934 shares of company stock worth $367,524. Insiders own 5.50% of the company's stock.

Analysts Set New Price Targets

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

Serve Robotics Stock Performance

Shares of Serve Robotics stock traded up $1.27 on Monday, hitting $8.73. 4,699,265 shares of the company traded hands, compared to its average volume of 9,495,909. Serve Robotics Inc. has a 52 week low of $1.77 and a 52 week high of $24.35. The business has a 50-day simple moving average of $6.40 and a 200 day simple moving average of $10.94. The stock has a market capitalization of $497.56 million and a P/E ratio of -8.25.

Serve Robotics (NASDAQ:SERV - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). The company had revenue of $0.44 million during the quarter, compared to analysts' expectations of $0.49 million. Serve Robotics had a negative return on equity of 184.60% and a negative net margin of 1,972.12%. Research analysts expect that Serve Robotics Inc. will post -0.98 earnings per share for the current year.

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.