Stephens Inc. AR Invests $142,000 in Serve Robotics Inc. (NASDAQ:SERV)

Stephens Inc. AR purchased a new stake in Serve Robotics Inc. (NASDAQ:SERV) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,550 shares of the company’s stock, valued at approximately $142,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Choreo LLC acquired a new stake in Serve Robotics in the fourth quarter valued at approximately $202,000. Blue Trust Inc. bought a new position in shares of Serve Robotics in the 4th quarter valued at $27,000. Exchange Traded Concepts LLC acquired a new stake in shares of Serve Robotics during the 4th quarter valued at $9,066,000. One Wealth Management Investment & Advisory Services LLC bought a new stake in Serve Robotics during the 4th quarter worth $154,000. Finally, SG Americas Securities LLC acquired a new position in Serve Robotics in the 4th quarter worth about $114,000.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SERV. Northland Securities lifted their price target on Serve Robotics from $16.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th. LADENBURG THALM/SH SH assumed coverage on shares of Serve Robotics in a report on Monday, October 28th. They set a “buy” rating and a $16.00 target price on the stock. Two investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Strong Buy” and a consensus price target of $19.50.

Serve Robotics Trading Down 39.6 %

NASDAQ SERV opened at $13.85 on Monday. The business’s 50-day moving average price is $16.52 and its two-hundred day moving average price is $11.96. Serve Robotics Inc. has a 12 month low of $1.77 and a 12 month high of $24.35.

Insider Buying and Selling

In other news, CEO Ali Kashani sold 37,500 shares of Serve Robotics stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $21.16, for a total value of $793,500.00. Following the completion of the transaction, the chief executive officer now directly owns 3,230,990 shares of the company’s stock, valued at approximately $68,367,748.40. This trade represents a 1.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James Buckly Jordan sold 64,408 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 449,052 shares in the company, valued at $3,848,375.64. This represents a 12.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 251,555 shares of company stock valued at $3,297,405 over the last ninety days. 21.40% of the stock is owned by company insiders.

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.