Virtu Financial LLC Makes New $465,000 Investment in Serve Robotics Inc. (NASDAQ:SERV)

Virtu Financial LLC acquired a new position in Serve Robotics Inc. (NASDAQ:SERV) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 34,440 shares of the company’s stock, valued at approximately $465,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SERV. Blue Trust Inc. bought a new stake in shares of Serve Robotics during the fourth quarter valued at about $27,000. Bogart Wealth LLC acquired a new position in Serve Robotics in the fourth quarter worth approximately $37,000. Larson Financial Group LLC acquired a new stake in shares of Serve Robotics during the 3rd quarter valued at $26,000. SG Americas Securities LLC purchased a new position in Serve Robotics in the 4th quarter worth about $114,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in shares of Serve Robotics in the third quarter worth approximately $68,000.

Analysts Set New Price Targets

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

Insider Activity at Serve Robotics

In other news, CEO Ali Kashani sold 7,500 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $17.23, for a total transaction of $129,225.00. Following the transaction, the chief executive officer now owns 3,268,490 shares in the company, valued at approximately $56,316,082.70. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders sold 62,051 shares of company stock valued at $1,134,921. 21.40% of the stock is owned by corporate insiders.

Serve Robotics Trading Down 1.4 %

Shares of NASDAQ:SERV opened at $7.68 on Wednesday. Serve Robotics Inc. has a 1 year low of $1.77 and a 1 year high of $24.35. The business has a fifty day simple moving average of $13.03 and a 200 day simple moving average of $11.56. The firm has a market cap of $437.13 million and a price-to-earnings ratio of -6.40.

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.