Aerohive Networks (HIVE) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Aerohive Networks (NYSE:HIVE) from a hold rating to a sell rating in a research report report published on Friday, Zacks.com reports.

According to Zacks, “Aerohive Networks Inc. designs and develops a cloud-managed mobile networking platform that enables enterprises to deploy a mobile-centric network edge. The Company’s cloud-managed mobile networking platform consists of four components: Cloud Services Platform, HiveOS operating system, client management software and its portfolio of hardware products. It serves the healthcare, education, manufacturing, distribution, and retail industries throughout the United States. Aerohive Networks, Inc. is headquartered in Sunnyvale, California. “

A number of other equities research analysts also recently commented on HIVE. ValuEngine raised shares of Aerohive Networks from a hold rating to a buy rating in a research report on Thursday, February 28th. Dougherty & Co reaffirmed a neutral rating on shares of Aerohive Networks in a research report on Thursday, February 7th.

NYSE:HIVE traded down $0.03 during trading hours on Friday, reaching $3.55. The company had a trading volume of 1,400 shares, compared to its average volume of 353,780. Aerohive Networks has a 52 week low of $3.19 and a 52 week high of $5.18. The company has a market cap of $203.94 million, a PE ratio of -12.21 and a beta of 1.16.

In other Aerohive Networks news, SVP Alan Amrod sold 40,555 shares of Aerohive Networks stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $4.34, for a total value of $176,008.70. Following the completion of the sale, the senior vice president now owns 276,606 shares of the company’s stock, valued at approximately $1,200,470.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Stephen Debenham sold 12,960 shares of Aerohive Networks stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $4.73, for a total transaction of $61,300.80. Following the completion of the sale, the vice president now directly owns 289,838 shares of the company’s stock, valued at approximately $1,370,933.74. The disclosure for this sale can be found here. Insiders own 9.44% of the company’s stock.

Several hedge funds have recently modified their holdings of HIVE. JPMorgan Chase & Co. grew its position in shares of Aerohive Networks by 213.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 363,770 shares of the communications equipment provider’s stock valued at $1,499,000 after acquiring an additional 247,850 shares during the period. Teachers Advisors LLC grew its position in shares of Aerohive Networks by 7.3% during the 3rd quarter. Teachers Advisors LLC now owns 244,874 shares of the communications equipment provider’s stock valued at $1,009,000 after acquiring an additional 16,748 shares during the period. Vanguard Group Inc. grew its position in shares of Aerohive Networks by 8.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,637,611 shares of the communications equipment provider’s stock valued at $6,747,000 after acquiring an additional 133,714 shares during the period. Vanguard Group Inc grew its position in shares of Aerohive Networks by 8.9% during the 3rd quarter. Vanguard Group Inc now owns 1,637,611 shares of the communications equipment provider’s stock valued at $6,747,000 after acquiring an additional 133,714 shares during the period. Finally, Strs Ohio grew its position in shares of 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 acquiring an additional 86,600 shares during the period. 59.80% of the stock is owned by hedge funds and other institutional investors.

About Aerohive Networks

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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