Bogart Wealth LLC Invests $37,000 in Serve Robotics Inc. (NASDAQ:SERV)

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

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

Serve Robotics Price Performance

NASDAQ SERV opened at $13.85 on Friday. The stock’s 50 day moving average is $16.52 and its 200 day moving average is $12.00. 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 Serve Robotics news, CEO Ali Kashani sold 37,500 shares of Serve Robotics stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $21.16, for a total value of $793,500.00. Following the sale, the chief executive officer now owns 3,230,990 shares of the company’s stock, valued at $68,367,748.40. The trade was a 1.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Touraj Parang sold 50,000 shares of Serve Robotics stock in a transaction that occurred 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. The trade was a 4.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 253,027 shares of company stock valued at $3,309,166. Corporate insiders own 21.40% of the company’s stock.

Analyst Ratings Changes

SERV has been the subject of a number of recent analyst reports. LADENBURG THALM/SH SH began coverage on Serve Robotics in a research note on Monday, October 28th. They issued a “buy” rating and a $16.00 price objective for the company. Northland Securities boosted their price target on Serve Robotics from $16.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Two equities 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 stock has an average 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.