Balboa Wealth Partners Acquires Shares of 11,145 Serve Robotics Inc. (NASDAQ:SERV)

Balboa Wealth Partners acquired a new stake in Serve Robotics Inc. (NASDAQ:SERVFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,145 shares of the company’s stock, valued at approximately $150,000.

A number of other institutional investors also recently bought and sold shares of SERV. Prosperity Wealth Management Inc. acquired a new position in shares of Serve Robotics during the fourth quarter worth about $232,000. Clare Market Investments LLC acquired a new position in shares of Serve Robotics during the fourth quarter worth about $205,000. Raymond James Financial Inc. acquired a new position in shares of Serve Robotics during the fourth quarter worth about $1,978,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Serve Robotics during the fourth quarter worth about $151,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Serve Robotics during the fourth quarter worth about $280,000.

Insider Buying and Selling

In other Serve Robotics news, CEO Ali Kashani sold 37,500 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $21.16, for a total value of $793,500.00. Following the sale, the chief executive officer now owns 3,230,990 shares of the company’s stock, valued at $68,367,748.40. This represents a 1.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 90,531 shares of company stock valued at $1,581,830. Corporate insiders own 21.40% of the company’s stock.

Analysts Set New Price Targets

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

Read Our Latest Stock Report on Serve Robotics

Serve Robotics Trading Up 9.1 %

SERV stock opened at $7.66 on Friday. The company has a market cap of $339.32 million and a P/E ratio of -6.38. Serve Robotics Inc. has a 52 week low of $1.77 and a 52 week high of $24.35. The company’s 50-day moving average price is $14.49 and its 200 day moving average price is $11.56.

Serve Robotics Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Serve Robotics (NASDAQ:SERV)

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