SG Americas Securities LLC Makes New Investment in Serve Robotics Inc. (NASDAQ:SERV)

SG Americas Securities LLC purchased a new position in shares of Serve Robotics Inc. (NASDAQ:SERV) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 8,450 shares of the company’s stock, valued at approximately $114,000.

Several other large investors also recently modified their holdings of the stock. Larson Financial Group LLC acquired a new position in shares of Serve Robotics during the 3rd quarter valued at $26,000. Bfsg LLC acquired a new position in shares of Serve Robotics during the third quarter valued at about $38,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Serve Robotics during the third quarter valued at about $68,000. Quantum Private Wealth LLC bought a new position in shares of Serve Robotics during the 3rd quarter worth about $80,000. Finally, Atomi Financial Group Inc. acquired a new stake in shares of Serve Robotics in the 4th quarter valued at about $209,000.

Serve Robotics Stock Up 3.9 %

Shares of NASDAQ SERV opened at $19.57 on Thursday. Serve Robotics Inc. has a fifty-two week low of $1.77 and a fifty-two week high of $24.35. The firm’s 50-day simple moving average is $15.99 and its 200 day simple moving average is $11.93.

Wall Street Analyst Weigh In

SERV has been the topic of a number of research reports. Northland Securities upped their price target on Serve Robotics from $16.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. LADENBURG THALM/SH SH started coverage on Serve Robotics in a research report on Monday, October 28th. They set a “buy” rating and a $16.00 target price on the stock. Finally, Northland Capmk upgraded Serve Robotics to a “strong-buy” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Strong Buy” and a consensus price target of $19.50.

Insider Transactions at Serve Robotics

In related news, CEO Ali Kashani sold 2,500 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $13.52, for a total transaction of $33,800.00. Following the completion of the sale, the chief executive officer now owns 3,344,498 shares in the company, valued at approximately $45,217,612.96. This represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James Buckly Jordan sold 64,408 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $8.57, for a total value of $551,976.56. Following the completion of the sale, the director now directly owns 449,052 shares of the company’s stock, valued at $3,848,375.64. The trade was a 12.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 253,027 shares of company stock valued at $3,309,166 over the last ninety days. 21.40% of the stock is currently owned by insiders.

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.