Bogart Wealth LLC Takes Position in Serve Robotics Inc. (NASDAQ:SERV)

Bogart Wealth LLC bought a new stake in shares of Serve Robotics Inc. (NASDAQ:SERV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,725 shares of the company’s stock, valued at approximately $37,000.

Several other large investors have also recently modified their holdings of SERV. Larson Financial Group LLC bought a new position in shares of Serve Robotics during the 3rd quarter valued at approximately $26,000. Blue Trust Inc. bought a new position in shares of Serve Robotics during the 4th quarter valued at approximately $27,000. Bfsg LLC bought a new position in shares of Serve Robotics during the 3rd quarter valued at approximately $38,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Serve Robotics during the 3rd quarter valued at approximately $68,000. Finally, Quantum Private Wealth LLC bought a new position in shares of Serve Robotics during the 3rd quarter valued at approximately $80,000.

Insiders Place Their Bets

In other Serve Robotics news, COO Touraj Parang sold 50,000 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $12.99, for a total value of $649,500.00. Following the completion of the sale, the chief operating officer now directly owns 1,163,439 shares in the company, valued at approximately $15,113,072.61. This represents a 4.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ali Kashani sold 9,719 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $8.77, for a total value of $85,235.63. Following the completion of the sale, the chief executive officer now owns 3,355,238 shares of the company’s stock, valued at $29,425,437.26. This represents a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 253,027 shares of company stock worth $3,309,166. 21.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SERV. LADENBURG THALM/SH SH assumed coverage on Serve Robotics in a research report on Monday, October 28th. They set a “buy” rating and a $16.00 target price on the stock. Northland Securities boosted their price objective on Serve Robotics from $16.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. 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 has a consensus rating of “Strong Buy” and an average price target of $19.50.

Serve Robotics Stock Performance

SERV opened at $13.85 on Friday. The business has a fifty day moving average of $16.52 and a 200 day moving average of $12.00. Serve Robotics Inc. has a 52-week low of $1.77 and a 52-week high of $24.35.

Serve Robotics Company 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.