Squarepoint Ops LLC Buys New Stake in Strive, Inc. $ASST

Key Points

• Squarepoint Ops LLC acquired 127,778 shares of Strive, valued at approximately $1.39 million, giving it a 0.15% stake. Hedge funds and institutional investors collectively own 5.52% of the company.
• Director Pierre Rochard purchased 15,900 shares at an average price of $12.54, while insiders currently own 2.71% of Strive.
• Analysts maintain a generally positive outlook, with six Buy ratings and an average price target of $28.40. However, Strive recently reported a quarterly loss of $3.65 per share, substantially missing the $0.95 consensus estimate.

Squarepoint Ops LLC bought a new position in shares of Strive, Inc. (NASDAQ:ASST - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 127,778 shares of the company's stock, valued at approximately $1,394,000. Squarepoint Ops LLC owned approximately 0.15% of Strive as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Allworth Financial LP purchased a new position in Strive during the 2nd quarter worth $66,000. AXQ Capital LP acquired a new stake in shares of Strive during the second quarter worth about $110,000. Formidable Asset Management LLC purchased a new position in shares of Strive during the first quarter worth about $113,000. Valtinson Bruner Financial Planning LLC purchased a new position in shares of Strive during the fourth quarter worth about $25,000. Finally, Pinnacle Associates Ltd. purchased a new position in shares of Strive during the fourth quarter worth about $26,000. 5.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Strive

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

Analysts Set New Price Targets

Several research firms have commented on ASST. TD Cowen reduced their price objective on Strive from $32.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. HC Wainwright lowered their target price on Strive from $37.00 to $36.00 and set a "buy" rating on the stock in a research note on Tuesday, August 11th. B. Riley Financial boosted their target price on Strive from $16.00 to $26.00 and gave the company a "buy" rating in a report on Thursday, September 3rd. Benchmark restated a "buy" rating on shares of Strive in a research note on Thursday, August 20th. Finally, Weiss Ratings raised Strive from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 14th. Six 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 presently has an average rating of "Moderate Buy" and an average target price of $28.40.

Strive Stock Down 0.6%

Shares of NASDAQ:ASST opened at $27.41 on Thursday. Strive, Inc. has a 52-week low of $7.02 and a 52-week high of $88.92. The stock's fifty day simple moving average is $17.15 and its 200-day simple moving average is $14.66. The company has a market capitalization of $2.34 billion, a P/E ratio of -3.10 and a beta of 13.36.

Strive (NASDAQ:ASST - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported ($3.65) earnings per share 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 business had revenue of $2.94 million during the quarter, compared to analyst estimates of $3.02 million. On average, sell-side analysts anticipate that Strive, Inc. will post 1.17 earnings per share for the current year.

Strive Company 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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