Spark Investment Management LLC maintained its stake in shares of Aerohive Networks, Inc. (NYSE:HIVE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,200 shares of the communications equipment provider’s stock at the end of the second quarter. Spark Investment Management LLC’s holdings in Aerohive Networks were worth $751,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in HIVE. Parametric Portfolio Associates LLC boosted its stake in shares of Aerohive Networks by 0.9% in the first quarter. Parametric Portfolio Associates LLC now owns 109,437 shares of the communications equipment provider’s stock worth $461,000 after buying an additional 948 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in shares of Aerohive Networks by 1.4% in the first quarter. OppenheimerFunds Inc. now owns 83,636 shares of the communications equipment provider’s stock worth $352,000 after buying an additional 1,152 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Aerohive Networks by 18.3% in the first quarter. Goldman Sachs Group Inc. now owns 26,294 shares of the communications equipment provider’s stock worth $111,000 after buying an additional 4,074 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Aerohive Networks by 2.4% in the first quarter. Geode Capital Management LLC now owns 276,186 shares of the communications equipment provider’s stock worth $1,162,000 after buying an additional 6,421 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new stake in shares of Aerohive Networks during the first quarter worth approximately $108,000. Hedge funds and other institutional investors own 47.73% of the company’s stock.

Shares of Aerohive Networks, Inc. (NYSE:HIVE) opened at 3.29 on Friday. The stock’s 50 day moving average is $4.57 and its 200-day moving average is $4.58. The firm’s market cap is $143.46 million. Aerohive Networks, Inc. has a 1-year low of $3.02 and a 1-year high of $7.00.

Aerohive Networks (NYSE:HIVE) last issued its quarterly earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. The company had revenue of $42.30 million for the quarter, compared to the consensus estimate of $43.11 million. Aerohive Networks had a negative net margin of 18.58% and a negative return on equity of 107.93%. The firm’s quarterly revenue was down 11.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.02) EPS. Analysts expect that Aerohive Networks, Inc. will post ($0.14) earnings per share for the current year.

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A number of analysts have commented on the stock. Zacks Investment Research cut shares of Aerohive Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. DA Davidson restated a “buy” rating and set a $9.00 target price on shares of Aerohive Networks in a research note on Friday, May 19th. Wunderlich upgraded shares of Aerohive Networks from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a research note on Thursday, May 4th. Finally, BidaskClub cut shares of Aerohive Networks from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $5.87.

In other Aerohive Networks news, CFO John Ritchie acquired 20,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were acquired at an average cost of $4.31 per share, with a total value of $86,200.00. Following the completion of the acquisition, the chief financial officer now directly owns 168,541 shares in the company, valued at $726,411.71. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David K. Flynn acquired 40,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were acquired at an average cost of $4.30 per share, for a total transaction of $172,000.00. Following the completion of the acquisition, the chief executive officer now owns 209,236 shares of the company’s stock, valued at $899,714.80. The disclosure for this purchase can be found here. 26.23% of the stock is currently owned by insiders.

Aerohive Networks Company Profile

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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