OMERS ADMINISTRATION Corp Buys Shares of 31,900 Serve Robotics Inc. (NASDAQ:SERV)

OMERS ADMINISTRATION Corp purchased a new stake in Serve Robotics Inc. (NASDAQ:SERV) during the fourth quarter, Holdings Channel.com reports. The firm purchased 31,900 shares of the company’s stock, valued at approximately $431,000.

Several other large investors have also recently made changes to their positions in the stock. Uber Technologies Inc bought a new stake in Serve Robotics during the fourth quarter valued at about $71,534,000. Exchange Traded Concepts LLC bought a new position in Serve Robotics in the fourth quarter worth about $9,066,000. Vanguard Group Inc. lifted its position in shares of 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 buying an additional 544,537 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of Serve Robotics during the fourth quarter valued at about $6,629,000. Finally, Captrust Financial Advisors bought a new stake in shares of Serve Robotics in the 4th quarter valued at about $3,672,000.

Wall Street Analysts Forecast Growth

Separately, Northland Securities set a $23.00 price objective on shares of Serve Robotics in a research 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, the stock has a consensus rating of “Strong Buy” and a consensus target price of $19.50.

Serve Robotics Trading Up 15.3%

Shares of SERV opened at $10.83 on Monday. The firm has a market cap 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. The stock has a fifty day moving average price of $6.59 and a 200-day moving average price of $10.88.

Insider Buying and Selling

In other Serve Robotics news, CEO Ali Kashani sold 3,713 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $9.21, for a total value of $34,196.73. Following the completion of the transaction, the chief executive officer now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Brian Read sold 29,100 shares of Serve Robotics stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $7.06, for a total transaction of $205,446.00. Following the sale, the chief financial officer now owns 240,900 shares of the company’s stock, valued at $1,700,754. The trade was a 10.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,834 shares of company stock worth $447,179 in the last ninety days. 5.50% of the stock is owned by insiders.

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.