Jefferies Financial Group Inc. Acquires 4,000 Shares of Serve Robotics Inc. (NASDAQ:SERV)

Jefferies Financial Group Inc. raised its holdings in shares of Serve Robotics Inc. (NASDAQ:SERV) by 30.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 17,200 shares of the company’s stock after buying an additional 4,000 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Serve Robotics were worth $232,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SERV. Uber Technologies Inc bought a new position in Serve Robotics during the fourth quarter valued at $71,534,000. Exchange Traded Concepts LLC bought a new position in Serve Robotics during the fourth quarter valued at $9,066,000. Vanguard Group Inc. lifted its position in Serve Robotics by 74.6% during the fourth quarter. Vanguard Group Inc. now owns 1,274,303 shares of the company’s stock valued at $17,203,000 after purchasing an additional 544,537 shares during the last quarter. Legal & General Group Plc bought a new position in Serve Robotics during the fourth quarter valued at $6,629,000. Finally, Captrust Financial Advisors bought a new stake in shares of Serve Robotics in the 4th quarter worth about $3,672,000.

Insider Transactions at Serve Robotics

In related news, CEO Ali Kashani sold 3,713 shares of Serve Robotics stock in a transaction dated Thursday, February 27th. The shares were 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 owns 3,225,852 shares in the company, valued at $29,710,096.92. This trade represents a 0.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian Read sold 8,900 shares of Serve Robotics stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $8.95, for a total transaction of $79,655.00. Following the sale, the chief financial officer now owns 225,000 shares of the company’s stock, valued at $2,013,750. The trade was a 3.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,834 shares of company stock worth $447,179. 5.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Serve Robotics Trading Up 15.3%

Serve Robotics stock opened at $10.83 on Friday. The firm has a 50-day moving average price of $6.59 and a 200-day moving average price of $10.88. The firm has a market capitalization of $617.39 million and a PE ratio of -10.22. Serve Robotics Inc. has a 12-month low of $1.77 and a 12-month 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.