Rhumbline Advisers lifted its position in shares of Aerohive Networks Inc (NYSE:HIVE) by 51.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,443 shares of the communications equipment provider’s stock after buying an additional 14,394 shares during the quarter. Rhumbline Advisers owned approximately 0.08% of Aerohive Networks worth $138,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jefferies Group LLC purchased a new stake in shares of Aerohive Networks during the 3rd quarter valued at about $117,000. Standard Life Aberdeen plc bought a new position in Aerohive Networks during the 3rd quarter valued at about $233,000. Citadel Advisors LLC grew its holdings in Aerohive Networks by 188.3% during the 3rd quarter. Citadel Advisors LLC now owns 97,963 shares of the communications equipment provider’s stock valued at $403,000 after purchasing an additional 63,986 shares during the last quarter. GSA Capital Partners LLP grew its holdings in Aerohive Networks by 86.2% during the 3rd quarter. GSA Capital Partners LLP now owns 151,000 shares of the communications equipment provider’s stock valued at $622,000 after purchasing an additional 69,900 shares during the last quarter. Finally, Strs Ohio grew its holdings in Aerohive Networks by 122.7% during the 4th quarter. Strs Ohio now owns 157,200 shares of the communications equipment provider’s stock valued at $512,000 after purchasing an additional 86,600 shares during the last quarter. Institutional investors own 59.24% of the company’s stock.
Several equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of Aerohive Networks from a “buy” rating to a “hold” rating in a report on Wednesday, January 30th. ValuEngine upgraded shares of Aerohive Networks from a “hold” rating to a “buy” rating in a research note on Thursday, February 28th. Finally, Dougherty & Co restated a “neutral” rating on shares of Aerohive Networks in a research note on Thursday, February 7th.
Aerohive Networks (NYSE:HIVE) last posted its earnings results on Wednesday, February 6th. The communications equipment provider reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.02. Aerohive Networks had a negative net margin of 11.84% and a negative return on equity of 78.97%. The company had revenue of $38.12 million during the quarter, compared to analysts’ expectations of $39.00 million. As a group, analysts expect that Aerohive Networks Inc will post -0.41 earnings per share for the current fiscal year.
In related news, VP Stephen Debenham sold 12,960 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $4.73, for a total transaction of $61,300.80. Following the sale, the vice president now owns 289,838 shares in the company, valued at $1,370,933.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Alan Amrod sold 40,555 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $4.34, for a total transaction of $176,008.70. Following the sale, the senior vice president now owns 276,606 shares in the company, valued at approximately $1,200,470.04. The disclosure for this sale can be found here. Corporate insiders own 26.13% of the company’s stock.
Aerohive Networks Company Profile
Aerohive Networks, Inc, together with its subsidiaries, designs and develops cloud networking and enterprise Wi-Fi solutions in the Americas, Europe, the Middle East and Africa, and the Asia Pacific. The company provides hardware products, such as wireless access points, branch routers, and switches; tiered maintenance and support services comprising technical support, bug fixes, access to priority hardware replacement service, and unspecified upgrades; and Software as a Service subscriptions, including comparable maintenance and support services.
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