Strive (NASDAQ:ASST) Releases Earnings Results, Beats Expectations By $2.39 EPS

Strive (NASDAQ:ASST) announced its quarterly earnings data on Friday. The company reported $5.46 earnings per share for the quarter, topping analysts’ consensus estimates of $3.07 by $2.39, FiscalAI reports. Strive had a negative net margin of 10,957.22% and a negative return on equity of 141.47%.

Strive Trading Up 4.2%

ASST traded up $0.86 during trading on Friday, hitting $21.45. 4,824,362 shares of the stock were exchanged, compared to its average volume of 8,934,684. The firm has a 50 day simple moving average of $26.89 and a 200 day simple moving average of $16.52. Strive has a 1 year low of $7.02 and a 1 year high of $34.40.

Analyst Ratings Changes

Several brokerages have recently weighed in on ASST. Benchmark restated a “buy” rating on shares of Strive in a report on Thursday, August 20th. TD Cowen restated a “buy” rating on shares of Strive in a research note on Monday, September 21st. Maxim Group set a $37.00 target price on shares of Strive and gave the company a “buy” rating in a research report on Monday, October 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Strive in a research note on Monday, October 12th. Finally, B. Riley Financial upped their target price on shares of Strive from $26.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, September 22nd. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Key Strive News

Here are the key news stories impacting Strive this week:

• Positive Sentiment: Strive reported third-quarter EPS of $5.46, beating the $3.07 consensus estimate. The company also posted $474.8 million in net income attributable to common shareholders and a $509 million gain, marking its first profitable quarter. Third-quarter financial results Net income and Bitcoin yield
• Positive Sentiment: The company said its Bitcoin holdings reached 43,124 BTC, valued at more than $3.25 billion. Its reported Bitcoin yield was 63.2%, highlighting the potential contribution of its accumulation strategy to results. Bitcoin holdings update
• Neutral Sentiment: HC Wainwright lowered its price target from $42 to $40 but maintained a Buy rating, indicating continued optimism alongside a more cautious valuation. HC Wainwright rating
• Negative Sentiment: B. Riley also cut its target, to $27. Although the revised target remains above the price cited in the report, reductions from both firms may weigh on sentiment. B. Riley price-target change

Insider Transactions at Strive

In other Strive news, CEO Matthew Cole sold 58,789 shares of Strive stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $31.33, for a total value of $1,841,859.37. Following the transaction, the chief executive officer owned 844,795 shares in the company, valued at $26,467,427.35. The trade was a 6.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director James Lavish sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $30.75, for a total transaction of $184,500.00. Following the transaction, the director owned 8,815 shares of the company’s stock, valued at approximately $271,061.25. This trade represents a 40.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 101,409 shares of company stock worth $3,166,897. Insiders own 2.71% of the company’s stock.

Strive Company Profile

Strive, Inc is an asset management and financial services company focused on providing investment products and strategies designed to prioritize long-term shareholder value. The company offers exchange-traded funds, separately managed accounts and other investment solutions for individuals and institutions.

Strive’s investment approach emphasizes corporate governance, energy security, domestic economic growth and what it describes as shareholder-focused capitalism. Its products are intended to give investors exposure to selected sectors, industries and broader investment themes through professionally managed portfolios.

The company was founded in 2022 by Vivek Ramaswamy.