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:SERV) 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.

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

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.