Prosperity Wealth Management Inc. Purchases Shares of 17,200 Serve Robotics Inc. (NASDAQ:SERV)

Prosperity Wealth Management Inc. purchased a new stake in shares of Serve Robotics Inc. (NASDAQ:SERV) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 17,200 shares of the company’s stock, valued at approximately $232,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. purchased a new position in shares of Serve Robotics during the 4th quarter worth approximately $27,000. Bogart Wealth LLC purchased a new position in shares of Serve Robotics during the 4th quarter worth approximately $37,000. Larson Financial Group LLC purchased a new position in shares of Serve Robotics during the 3rd quarter worth approximately $26,000. SG Americas Securities LLC purchased a new position in shares of Serve Robotics during the 4th quarter worth approximately $114,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in shares of Serve Robotics during the 3rd quarter worth approximately $68,000.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, CEO Ali Kashani sold 22,500 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $14.93, for a total value of $335,925.00. Following the sale, the chief executive officer now owns 3,306,998 shares in the company, valued at $49,373,480.14. This represents a 0.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold 93,031 shares of company stock worth $1,613,030 in the last 90 days. Insiders own 21.40% of the company’s stock.

Serve Robotics Stock Up 8.0 %

Serve Robotics stock opened at $7.53 on Thursday. The company has a market capitalization of $333.56 million and a P/E ratio of -6.28. The stock’s 50 day moving average is $14.87 and its 200 day moving average is $11.60. Serve Robotics Inc. has a twelve month low of $1.77 and a twelve 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.