Strive (NASDAQ:ASST) Insider Sells $629,012.41 in Stock

Strive, Inc. (NASDAQ:ASST) insider Brian Beirne sold 20,077 shares of the business’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $31.33, for a total value of $629,012.41. Following the completion of the sale, the insider directly owned 41,425 shares in the company, valued at approximately $1,297,845.25. This represents a 32.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Strive Price Performance

Strive stock opened at $28.18 on Thursday. The stock has a fifty day moving average price of $22.36 and a two-hundred day moving average price of $16.79. Strive, Inc. has a 52-week low of $7.02 and a 52-week high of $43.00. The firm has a market capitalization of $2.41 billion, a P/E ratio of -3.19 and a beta of 13.26.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Weiss Ratings raised shares of Strive from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. HC Wainwright reduced their target price on Strive from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Benchmark restated a “buy” rating on shares of Strive in a research report on Thursday, August 20th. B. Riley Financial increased their price target on Strive from $26.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, September 22nd. Finally, TD Cowen reaffirmed a “buy” rating on shares of Strive in a report on Monday, September 21st. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $29.80.

Strive News Summary

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

Institutional Investors Weigh In On Strive

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASST. State Street Corp bought a new stake in shares of Strive during the second quarter valued at approximately $16,395,000. Corient Private Wealth LP bought a new position in Strive in the 2nd quarter worth approximately $448,000. Squarepoint Ops LLC acquired a new position in Strive during the 2nd quarter worth $1,394,000. Ameritas Advisory Services LLC acquired a new position in Strive during the 2nd quarter worth $516,000. Finally, TRU Independence Asset Management 2 LLC bought a new position in Strive in the 4th quarter valued at $63,000. Institutional investors and hedge funds own 5.52% of the company’s stock.

Strive Company Profile

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.