Strive (NASDAQ:ASST) Stock Price Up 12.7% – Still a Buy?

Shares of Strive, Inc. (NASDAQ:ASST) were up 12.7% on Wednesday. The stock traded as high as $22.50 and last traded at $23.2750. Approximately 1,490,696 shares were traded during trading, a decline of 73% from the average session volume of 5,554,511 shares. The stock had previously closed at $20.66.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Maxim Group set a $37.00 price target on shares of Strive and gave the company a “buy” rating in a report on Monday, October 12th. HC Wainwright lowered their price objective on shares of Strive from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Benchmark reiterated a “buy” rating on shares of Strive in a report on Thursday, August 20th. B. Riley Financial boosted 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. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Strive in a research note on Monday, October 12th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $33.20.

Strive Stock Performance

The firm has a market cap of $1.76 billion, a P/E ratio of -2.33 and a beta of 13.32. The company has a 50 day moving average of $26.93 and a 200 day moving average of $16.51.

Strive (NASDAQ:ASST) last released its quarterly earnings results on Friday, November 6th. The company reported $5.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $2.39. Strive had a negative return on equity of 141.47% and a negative net margin of 10,957.22%. As a group, analysts expect that Strive, Inc. will post 1.17 EPS for the current fiscal year.

Insider Transactions at Strive

In other Strive news, insider Brian Beirne sold 20,077 shares of the company’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $31.33, for a total value of $629,012.41. Following the sale, the insider directly owned 41,425 shares in the company, valued at $1,297,845.25. This represents a 32.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Pierre Rochard bought 15,900 shares of the stock in a transaction dated Friday, August 14th. The stock was purchased at an average cost of $12.54 per share, for a total transaction of $199,386.00. Following the acquisition, the director owned 15,900 shares in the company, valued at $199,386. The trade was a ? increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have sold 101,409 shares of company stock worth $3,166,897. 2.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Strive

A number of hedge funds have recently added to or reduced their stakes in ASST. State Street Corp bought a new position in shares of Strive during the 2nd quarter worth approximately $16,395,000. Squarepoint Ops LLC acquired a new stake in shares of Strive in the second quarter valued at approximately $1,394,000. Ameritas Advisory Services LLC bought a new stake in shares of Strive in the second quarter worth $516,000. Corient Private Wealth LP bought a new stake in shares of Strive in the second quarter worth $448,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Strive in the second quarter worth $179,000. Institutional investors own 5.52% of the company’s stock.

About Strive

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.