Strive (NASDAQ:ASST) Director Sells $184,500.00 in Stock

Strive, Inc. (NASDAQ:ASST) Director James Lavish sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $30.75, for a total transaction of $184,500.00. Following the sale, the director directly owned 8,815 shares in the company, valued at approximately $271,061.25. The trade was a 40.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Strive Trading Down 5.3%

Shares of Strive stock opened at $28.18 on Thursday. The company has a fifty day simple moving average of $22.36 and a 200-day simple moving average of $16.79. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of -3.19 and a beta of 13.26. Strive, Inc. has a 12-month low of $7.02 and a 12-month high of $43.00.

Strive (NASDAQ:ASST) last announced its quarterly earnings results on Monday, August 10th. The company reported ($3.65) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.94 million during the quarter, compared to analysts’ expectations of $3.02 million. On average, analysts forecast that Strive, Inc. will post 1.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

ASST has been the subject of a number of research analyst reports. Benchmark reissued a “buy” rating on shares of Strive in a research report on Thursday, August 20th. TD Cowen reaffirmed a “buy” rating on shares of Strive in a research report on Monday, September 21st. B. Riley Financial boosted their price objective on Strive from $26.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, September 22nd. Weiss Ratings raised Strive from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Finally, HC Wainwright cut their target price on shares of Strive from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $29.80.

Key Stories Impacting Strive

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 Trading of Strive

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp acquired a new position in shares of Strive in the second quarter valued at approximately $16,395,000. The Manufacturers Life Insurance Company purchased a new position in Strive in the 2nd quarter valued at $179,000. Squarepoint Ops LLC purchased a new position in Strive in the 2nd quarter valued at $1,394,000. Allworth Financial LP acquired a new position in Strive in the 2nd quarter valued at $66,000. Finally, Corient Private Wealth LP purchased a new position in Strive during the 2nd quarter worth $448,000. 5.52% of the stock is owned by institutional investors and hedge funds.

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.