Aerohive Networks, Inc. (HIVE) Shares Bought by Worth Venture Partners LLC

Worth Venture Partners LLC raised its stake in Aerohive Networks, Inc. (NYSE:HIVE) by 33.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 166,921 shares of the communications equipment provider’s stock after purchasing an additional 41,876 shares during the quarter. Worth Venture Partners LLC owned about 0.31% of Aerohive Networks worth $683,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall Wace North America L.P. acquired a new position in shares of Aerohive Networks in the 2nd quarter valued at $2,041,000. S Squared Technology LLC acquired a new position in shares of Aerohive Networks during the 2nd quarter valued at $1,361,000. Menta Capital LLC acquired a new position in shares of Aerohive Networks during the 2nd quarter valued at $523,000. Cooper Creek Partners Management LLC acquired a new position in shares of Aerohive Networks during the 2nd quarter valued at $2,487,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Aerohive Networks by 33.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,056,900 shares of the communications equipment provider’s stock valued at $5,284,000 after acquiring an additional 263,879 shares in the last quarter. Institutional investors own 45.86% of the company’s stock.

Several equities analysts recently weighed in on HIVE shares. ValuEngine lowered shares of Aerohive Networks from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 6th. Craig Hallum started coverage on shares of Aerohive Networks in a report on Tuesday, October 17th. They set a “buy” rating and a $6.00 target price on the stock. BidaskClub lowered shares of Aerohive Networks from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Finally, Zacks Investment Research lowered shares of Aerohive Networks from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $6.05.

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Aerohive Networks, Inc. (NYSE HIVE) traded down $0.12 during trading hours on Tuesday, hitting $4.55. 428,500 shares of the company traded hands, compared to its average volume of 338,831. The company has a current ratio of 2.19, a quick ratio of 1.95 and a debt-to-equity ratio of 0.94. Aerohive Networks, Inc. has a 1-year low of $3.02 and a 1-year high of $6.14.

Aerohive Networks (NYSE:HIVE) last released its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. Aerohive Networks had a negative net margin of 17.00% and a negative return on equity of 103.45%. The firm had revenue of $37.07 million for the quarter, compared to the consensus estimate of $38.41 million. During the same quarter in the previous year, the firm posted ($0.06) EPS. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. sell-side analysts forecast that Aerohive Networks, Inc. will post -0.43 EPS for the current year.

Aerohive Networks announced that its board has initiated a stock buyback program on Wednesday, November 1st that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the communications equipment provider to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

About Aerohive Networks

Aerohive Networks, Inc together with its subsidiaries, has designed and developed a cloud-managed mobile networking platform that enables enterprises to deploy and manage a mobile-centric network edge. Its portfolio of products and solutions is built around sets of technologies and solutions, which include Enterprise Cloud Networking, Wireless Fidelity (Wi-Fi) Connectivity and Application and Insights.

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

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