Strive (NASDAQ:ASST) Director Sells $203,144.00 in Stock

Strive, Inc. (NASDAQ:ASST) Director Jonathan Macey sold 6,700 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $30.32, for a total value of $203,144.00. Following the transaction, the director directly owned 8,115 shares in the company, valued at approximately $246,046.80. This trade represents a 45.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Strive Trading Down 5.3%

ASST stock opened at $28.18 on Thursday. The business’s 50 day simple moving average is $22.36 and its 200 day simple moving average is $16.79. Strive, Inc. has a 1-year low of $7.02 and a 1-year high of $43.00. The firm has a market capitalization of $2.41 billion, a PE ratio of -3.19 and a beta of 13.26.

Strive (NASDAQ:ASST) last released its quarterly earnings data on Monday, August 10th. The company reported ($3.65) EPS for the quarter, missing the consensus estimate of ($0.95) by ($2.70). The company had revenue of $2.94 million during the quarter, compared to analyst estimates of $3.02 million. Strive had a negative net margin of 10,957.22% and a negative return on equity of 141.47%. As a group, sell-side analysts predict that Strive, Inc. will post 1.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ASST shares. HC Wainwright dropped their price target on Strive from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Weiss Ratings upgraded shares of Strive from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. TD Cowen reissued a “buy” rating on shares of Strive in a research note on Monday, September 21st. B. Riley Financial boosted their price objective on shares of Strive from $26.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, September 22nd. Finally, Benchmark reiterated a “buy” rating on shares of Strive in a research note on Thursday, August 20th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.80.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp acquired a new position in Strive in the second quarter valued at $16,395,000. Squarepoint Ops LLC bought a new position in shares of Strive in the 2nd quarter worth about $1,394,000. Ameritas Advisory Services LLC bought a new stake in shares of Strive during the 2nd quarter valued at about $516,000. Corient Private Wealth LP acquired a new stake in Strive during the second quarter worth approximately $448,000. Finally, Corient Private Wealth LLC acquired a new position in Strive in the fourth quarter valued at approximately $388,000. 5.52% of the stock is owned by institutional investors and hedge funds.

Key Strive News

Here are the key news stories impacting Strive this week:

• Positive Sentiment: Strive purchased 2,000 Bitcoin for approximately $169 million, its largest Bitcoin acquisition since June. The purchase increases the company’s crypto exposure and moves Strive closer to becoming one of the largest publicly traded Bitcoin holders. Strive Buys 2,000 Bitcoin for $169 Million
• Positive Sentiment: The Bitcoin purchase helped support bullish interest in ASST, as investors viewed the larger treasury position as a way to benefit from potential long-term Bitcoin appreciation. Strive Stock Jumps After Bitcoin Purchase
• Neutral Sentiment: Strive executive Matt Cole said Bitcoin could reach $500,000 by the end of 2030. The forecast reinforces management’s long-term crypto thesis, but it is speculative and highlights the company’s dependence on Bitcoin’s future performance. Matt Cole Bitcoin Forecast
• Negative Sentiment: Insiders reported selling approximately 101,409 shares worth about $3.17 million. Sellers included CEO Matthew Cole, CFO Benjamin Pham, CMO Arshia Sarkhani and directors Brian Beirne, James Lavish and Jonathan Macey. Most executive sales were made to cover tax obligations from vested equity awards, reducing their bearish significance, but the broad selling and sizable ownership reductions may create an overhang. Strive Insider Sales

About Strive

Strive, Inc is a financial services company operating under the Strive brand. Its business is focused on providing investment management and related financial products, with an emphasis on long-term capital preservation, shareholder rights and policies intended to promote value creation for investors.

The company’s activities include asset management and the development of investment vehicles designed to give clients exposure to selected investment strategies and markets. Strive has also pursued a Bitcoin-focused treasury strategy, making digital assets an important part of its corporate and investment positioning.

Strive’s current public-company structure resulted from the combination of Strive Enterprises and Asset Entities Inc, a social media and digital marketing company whose Nasdaq-listed shares traded under the symbol ASST.