Aerohive Networks Inc (HIVE) Position Lifted by Spark Investment Management LLC

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Spark Investment Management LLC boosted its position in Aerohive Networks Inc (NYSE:HIVE) by 22.3% during the first quarter, Holdings Channel reports. The fund owned 531,000 shares of the communications equipment provider’s stock after buying an additional 96,900 shares during the quarter. Spark Investment Management LLC’s holdings in Aerohive Networks were worth $2,145,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Koch Industries Inc. bought a new position in Aerohive Networks in the fourth quarter valued at approximately $122,000. Wells Fargo & Company MN boosted its position in Aerohive Networks by 66.6% in the third quarter. Wells Fargo & Company MN now owns 34,691 shares of the communications equipment provider’s stock valued at $142,000 after buying an additional 13,865 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Aerohive Networks by 1,309.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 28,139 shares of the communications equipment provider’s stock valued at $164,000 after buying an additional 26,143 shares in the last quarter. Jane Street Group LLC acquired a new stake in Aerohive Networks in the fourth quarter valued at approximately $215,000. Finally, Stone Ridge Asset Management LLC acquired a new stake in Aerohive Networks in the fourth quarter valued at approximately $306,000. 48.18% of the stock is currently owned by institutional investors and hedge funds.

Shares of Aerohive Networks opened at $4.22 on Friday, MarketBeat Ratings reports. Aerohive Networks Inc has a fifty-two week low of $3.02 and a fifty-two week high of $6.50.

Aerohive Networks (NYSE:HIVE) last issued its earnings results on Wednesday, May 2nd. The communications equipment provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Aerohive Networks had a negative net margin of 13.93% and a negative return on equity of 95.00%. The firm had revenue of $35.77 million for the quarter, compared to analyst estimates of $34.93 million. During the same quarter last year, the business posted ($0.08) earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. sell-side analysts expect that Aerohive Networks Inc will post -0.31 EPS for the current year.

A number of analysts have weighed in on HIVE shares. Zacks Investment Research upgraded shares of Aerohive Networks from a “sell” rating to a “buy” rating and set a $4.75 target price on the stock in a research report on Wednesday, March 21st. Pi Financial cut their target price on shares of Aerohive Networks from $5.25 to $4.50 in a research report on Friday, March 2nd. Finally, ValuEngine lowered shares of Aerohive Networks from a “sell” rating to a “strong sell” rating in a research report on Wednesday, March 28th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $5.08.

Aerohive Networks 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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Institutional Ownership by Quarter for Aerohive Networks (NYSE:HIVE)

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