Strive (NASDAQ:ASST) CMO Sells $176,513.22 in Stock

Strive, Inc. (NASDAQ:ASST) CMO Arshia Sarkhani sold 5,634 shares of the stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $31.33, for a total transaction of $176,513.22. Following the transaction, the chief marketing officer owned 11,795 shares in the company, valued at approximately $369,537.35. This represents a 32.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Strive Trading Down 5.3%

Shares of NASDAQ ASST opened at $28.18 on Thursday. Strive, Inc. has a 12-month low of $7.02 and a 12-month high of $43.00. The stock’s fifty day simple moving average is $22.36 and its two-hundred day simple moving average is $16.79. The stock 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 results 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 the consensus estimate of $3.02 million. Strive had a negative return on equity of 141.47% and a negative net margin of 10,957.22%. On average, equities analysts predict that Strive, Inc. will post 1.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

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

Trending Headlines about 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

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.