Strive (NASDAQ:ASST) CFO Sells $131,867.97 in Stock

Strive, Inc. (NASDAQ:ASST) CFO Benjamin Pham sold 4,209 shares of the business’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $31.33, for a total transaction of $131,867.97. Following the transaction, the chief financial officer directly owned 17,365 shares of the company’s stock, valued at approximately $544,045.45. This represents a 19.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Strive Stock Performance

Shares of NASDAQ:ASST opened at $28.18 on Thursday. The company has a market cap of $2.41 billion, a P/E ratio of -3.19 and a beta of 13.26. The stock’s 50-day moving average is $22.36 and its 200-day moving average is $16.79. Strive, Inc. has a 52-week low of $7.02 and a 52-week high of $43.00.

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

Institutional Trading of Strive

A number of hedge funds have recently modified their holdings of ASST. Allworth Financial LP acquired a new position in Strive during the 2nd quarter worth about $66,000. AXQ Capital LP acquired a new position in Strive during the 2nd quarter worth $110,000. Formidable Asset Management LLC bought a new stake in Strive in the first quarter valued at about $113,000. The Manufacturers Life Insurance Company bought a new stake in shares of Strive in the 2nd quarter valued at approximately $179,000. Finally, Corient Private Wealth LP acquired a new position in Strive in the second quarter worth $448,000. Institutional investors own 5.52% of the company’s stock.

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

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Weiss Ratings raised Strive from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. TD Cowen reaffirmed a “buy” rating on shares of Strive in a research note on Monday, September 21st. B. Riley Financial increased 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. Benchmark reissued a “buy” rating on shares of Strive in a research note on Thursday, August 20th. Finally, HC Wainwright reduced 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 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, Strive has a consensus rating of “Moderate Buy” and a consensus price target of $29.80.

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.