1,502,726 Shares in Strive, Inc. $ASST Purchased by State Street Corp

Key Points

• State Street Corp purchased 1,502,726 Strive shares worth approximately $16.4 million, giving it a 1.76% stake; institutional and hedge-fund ownership now stands at 5.52%.
• Analysts maintain a generally positive view, with five Buy ratings, one Hold, and one Sell, producing a “Moderate Buy” consensus and an average price target of $29.80.
• Strive reported a significant quarterly loss of $3.65 per share versus the $0.95 consensus estimate, while revenue of $2.94 million was slightly below expectations; the bitcoin-focused company’s stock recently opened at $29.44.

State Street Corp bought a new position in shares of Strive, Inc. (NASDAQ:ASST - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,502,726 shares of the company's stock, valued at approximately $16,395,000. State Street Corp owned about 1.76% of Strive at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ASST. The Manufacturers Life Insurance Company bought a new stake in shares of Strive in the 2nd quarter valued at about $179,000. Squarepoint Ops LLC bought a new position in shares of Strive during the second quarter worth about $1,394,000. Allworth Financial LP bought a new stake in Strive in the second quarter valued at approximately $66,000. Corient Private Wealth LP acquired a new stake in Strive during the 2nd quarter valued at approximately $448,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Strive during the 2nd quarter valued at approximately $516,000. 5.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ASST shares. Weiss Ratings upgraded shares of Strive from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 14th. Benchmark reiterated a "buy" rating on shares of Strive in a report on Thursday, August 20th. HC Wainwright lowered their price objective on 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 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. Finally, TD Cowen restated a "buy" rating on shares of Strive in a research report on Monday. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Strive presently has a consensus rating of "Moderate Buy" and an average price target of $29.80.

Strive Price Performance

ASST opened at $29.44 on Friday. Strive, Inc. has a fifty-two week low of $7.02 and a fifty-two week high of $54.80. The firm has a market capitalization of $2.52 billion, a PE ratio of -3.33 and a beta of 13.36. The company's 50-day moving average is $19.57 and its 200 day moving average is $15.64.

Strive (NASDAQ:ASST - Get Free Report) last issued 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). Strive had a negative return on equity of 141.47% and a negative net margin of 10,957.22%.The company had revenue of $2.94 million during the quarter, compared to analysts' expectations of $3.02 million. As a group, analysts expect that Strive, Inc. will post 1.17 EPS for the current year.

Insider Activity

In other Strive news, Director Pierre Rochard purchased 15,900 shares of the company's stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average cost of $12.54 per share, for a total transaction of $199,386.00. Following the completion of the acquisition, the director owned 15,900 shares of the company's stock, valued at $199,386. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.71% of the stock is currently owned by corporate insiders.

Strive Profile

Strive, Inc, formerly known as Asset Entities, Inc, is a bitcoin-focused financial company whose common stock trades on the Nasdaq under the symbol ASST. The company's primary objective is to build and manage a bitcoin treasury while pursuing strategies intended to increase bitcoin exposure for its shareholders.

Strive's activities include acquiring bitcoin, accessing capital markets and developing financial strategies related to digital assets. The company is led by Chief Executive Officer Matt Cole and was founded by entrepreneur and investor Vivek Ramaswamy.

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