Insider Selling: Strive (NASDAQ:ASST) CEO Sells 58,789 Shares of Company Stock

Key Points

• CEO Matthew Cole sold 58,789 Strive shares at an average price of $31.33, totaling about $1.84 million. The sale covered tax-withholding obligations tied to vested equity awards, leaving him with 844,795 shares.
• Strive’s stock traded near $30.26, while analysts maintained a consensus “Moderate Buy” rating and an average price target of $29.80. The company recently reported a larger-than-expected quarterly loss of $3.65 per share.
• Strive purchased approximately 2,000 Bitcoin for $169 million and announced a share buyback, reinforcing its crypto-focused treasury strategy while increasing the stock’s sensitivity to Bitcoin volatility.

Strive, Inc. (NASDAQ:ASST - Get Free Report) CEO Matthew Cole sold 58,789 shares of the stock in a transaction on Monday, October 5th. The shares were sold at an average price of $31.33, for a total value of $1,841,859.37. Following the completion of the transaction, the chief executive officer owned 844,795 shares of the company's stock, valued at $26,467,427.35. The trade was a 6.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Strive Trading Up 0.8%

NASDAQ:ASST traded up $0.23 during trading hours on Monday, hitting $30.26. 9,556,442 shares of the company were exchanged, compared to its average volume of 8,253,386. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of -3.42 and a beta of 13.26. Strive, Inc. has a one year low of $7.02 and a one year high of $54.80. The company has a fifty day simple moving average of $21.66 and a 200 day simple moving average of $16.53.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Weiss Ratings upgraded Strive from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, July 14th. Benchmark reiterated a "buy" rating on shares of Strive in a research note on Thursday, August 20th. TD Cowen reissued a "buy" rating on shares of Strive in a report on Monday, September 21st. B. Riley Financial boosted their price target 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. Finally, HC Wainwright lowered their price objective on Strive from $37.00 to $36.00 and set a "buy" rating on the stock in a research report on Tuesday, August 11th. Five 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $29.80.

Key Stories Impacting Strive

Here are the key news stories impacting Strive this week:

• Positive Sentiment: Strive acquired 2,000 Bitcoin for approximately $169 million between September 28 and October 2, its largest purchase since June. The transaction increases the company’s exposure to Bitcoin prices and supports its strategy of building a crypto-focused treasury. Strive Buys 2,000 Bitcoin for $169 Million
• Positive Sentiment: The company also announced a SATA share buyback while expanding its Bitcoin holdings. A repurchase program could support per-share value and signals management’s willingness to use capital to enhance shareholder returns, although its ultimate impact depends on the size and execution of the program. Strive Expands Bitcoin Holdings and Launches SATA Buyback
• Neutral Sentiment: Coverage highlights accelerating corporate Bitcoin purchases by Strive, Strategy and Metaplanet, reinforcing the sector narrative but also emphasizing that ASST remains highly sensitive to Bitcoin volatility. Corporate Bitcoin Buying Accelerates
• Negative Sentiment: Several insiders reported sales totaling roughly 101,000 shares worth about $3.17 million. The sellers included CEO Matthew Cole, CFO Benjamin Pham, CMO Arshia Sarkhani and directors James Lavish and Jonathan Macey. Most executive sales were identified as tax-withholding transactions tied to equity vesting, which reduces their bearish significance, but the combined selling and sizable ownership reductions could still create an overhang.

Hedge Funds Weigh In On Strive

Institutional investors have recently modified their holdings of the company. Allworth Financial LP bought a new stake in Strive in the 2nd quarter worth approximately $66,000. AXQ Capital LP bought a new position in Strive during the second quarter valued at approximately $110,000. Formidable Asset Management LLC purchased a new position in shares of Strive during the first quarter worth approximately $113,000. The Manufacturers Life Insurance Company purchased a new position in shares of Strive during the second quarter worth approximately $179,000. Finally, Corient Private Wealth LP bought a new stake in shares of Strive in the 2nd quarter worth approximately $448,000. 5.52% of the stock is currently owned by institutional investors.

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.

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