Serve Robotics Inc. (NASDAQ:SERV) Shares Bought by DnB Asset Management AS

DnB Asset Management AS grew its position in Serve Robotics Inc. (NASDAQ:SERV) by 52.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 21,356 shares of the company’s stock after acquiring an additional 7,336 shares during the period. DnB Asset Management AS’s holdings in Serve Robotics were worth $288,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Quadrature Capital Ltd acquired a new stake in Serve Robotics in the third quarter valued at $148,000. State Street Corp acquired a new stake in shares of Serve Robotics during the 3rd quarter worth about $333,000. Gordian Capital Singapore Pte Ltd purchased a new stake in Serve Robotics during the third quarter worth approximately $68,000. Geode Capital Management LLC boosted its holdings 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 in the last quarter. Finally, Tidal Investments LLC purchased a new position in Serve Robotics in the third quarter valued at approximately $262,000.

Serve Robotics Stock Performance

NASDAQ SERV opened at $5.88 on Thursday. The firm’s fifty day moving average is $11.55 and its two-hundred day moving average is $11.48. Serve Robotics Inc. has a one year low of $1.77 and a one year high of $24.35. The firm has a market cap of $334.68 million and a PE ratio of -4.90.

Insider Buying and Selling

In other Serve Robotics news, CEO Ali Kashani sold 3,713 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $9.21, for a total transaction of $34,196.73. Following the completion of the sale, the chief executive officer now directly owns 3,225,852 shares of the company’s stock, valued at approximately $29,710,096.92. This trade represents a 0.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 54,511 shares of company stock valued at $1,010,553 over the last quarter. 21.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

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.