Charles Schwab Investment Management Inc. Invests $151,000 in Serve Robotics Inc. (NASDAQ:SERV)

Charles Schwab Investment Management Inc. bought a new stake in Serve Robotics Inc. (NASDAQ:SERV) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 11,183 shares of the company’s stock, valued at approximately $151,000.

Several other large investors have also modified their holdings of the stock. Blue Trust Inc. bought a new stake in Serve Robotics in the fourth quarter valued at about $27,000. Bogart Wealth LLC bought a new stake in shares of Serve Robotics in the 4th quarter valued at approximately $37,000. SG Americas Securities LLC bought a new stake in shares of Serve Robotics in the 4th quarter valued at approximately $114,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Serve Robotics during the 3rd quarter valued at approximately $68,000. Finally, Stephens Inc. AR bought a new position in Serve Robotics during the fourth quarter worth $142,000.

Serve Robotics Stock Down 1.4 %

Shares of SERV stock opened at $5.67 on Wednesday. The business has a 50 day moving average of $11.79 and a two-hundred day moving average of $11.52. The company has a market cap of $322.73 million and a P/E ratio of -4.73. Serve Robotics Inc. has a 52 week low of $1.77 and a 52 week high of $24.35.

Wall Street Analyst Weigh In

Separately, Northland Securities set a $23.00 target price on shares of Serve Robotics in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Buy” and an average target price of $19.50.

Insider Buying and Selling

In other news, CEO Ali Kashani sold 37,500 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $21.16, for a total transaction of $793,500.00. Following the completion of the transaction, the chief executive officer now owns 3,230,990 shares of the company’s stock, valued at approximately $68,367,748.40. The trade was a 1.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 54,511 shares of company stock worth $1,010,553 in the last three months. 21.40% of the stock is owned by 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.