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

Virtu Financial LLC purchased a new stake in Serve Robotics Inc. (NASDAQ:SERV) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 34,440 shares of the company’s stock, valued at approximately $465,000. Virtu Financial LLC owned about 0.08% of Serve Robotics as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in SERV. State Street Corp acquired a new position in shares of Serve Robotics in the 3rd quarter valued at $333,000. Exchange Traded Concepts LLC acquired a new position in shares of Serve Robotics during the 4th quarter valued at $9,066,000. Atomi Financial Group Inc. acquired a new stake in Serve Robotics in the 4th quarter valued at $209,000. Geode Capital Management LLC raised its position in Serve Robotics by 128.1% in the third quarter. Geode Capital Management LLC now owns 130,853 shares of the company’s stock valued at $1,041,000 after purchasing an additional 73,496 shares during the period. Finally, Stephens Inc. AR acquired a new stake in shares of Serve Robotics in the fourth quarter valued at about $142,000.

Serve Robotics Trading Down 1.4 %

Shares of NASDAQ:SERV opened at $7.68 on Wednesday. The firm has a market cap of $437.13 million and a PE ratio of -6.40. The company has a fifty day simple moving average of $13.03 and a 200 day simple moving average of $11.56. 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 3,713 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $9.21, for a total value of $34,196.73. Following the completion of the sale, the chief executive officer now directly owns 3,225,852 shares in the company, valued at approximately $29,710,096.92. The trade was a 0.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 62,051 shares of company stock worth $1,134,921. Corporate insiders own 21.40% of the company’s stock.

Analyst Ratings Changes

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. According to data from MarketBeat.com, Serve Robotics currently has a consensus rating of “Strong Buy” and an average price target of $19.50.

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.