Wells Fargo & Company MN raised its stake in shares of Aerohive Networks Inc (NYSE:HIVE) by 66.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,691 shares of the communications equipment provider’s stock after buying an additional 13,865 shares during the period. Wells Fargo & Company MN owned 0.06% of Aerohive Networks worth $142,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Rhumbline Advisers raised its holdings in Aerohive Networks by 23.8% during the second quarter. Rhumbline Advisers now owns 31,530 shares of the communications equipment provider’s stock valued at $158,000 after buying an additional 6,061 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Aerohive Networks by 31.8% during the second quarter. The Manufacturers Life Insurance Company now owns 30,090 shares of the communications equipment provider’s stock valued at $150,000 after buying an additional 7,258 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Aerohive Networks by 15.3% in the second quarter. California State Teachers Retirement System now owns 55,641 shares of the communications equipment provider’s stock worth $278,000 after purchasing an additional 7,400 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Aerohive Networks by 18.5% in the second quarter. Bank of New York Mellon Corp now owns 103,384 shares of the communications equipment provider’s stock worth $517,000 after purchasing an additional 16,162 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Aerohive Networks by 51.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 112,011 shares of the communications equipment provider’s stock worth $561,000 after purchasing an additional 38,175 shares during the period. Institutional investors own 46.14% of the company’s stock.

HIVE has been the topic of a number of recent analyst reports. Craig Hallum initiated coverage on Aerohive Networks in a research note on Tuesday, October 17th. They issued a “buy” rating and a $6.00 price objective on the stock. Zacks Investment Research lowered Aerohive Networks from a “hold” rating to a “sell” rating in a research note on Saturday, January 20th. ValuEngine upgraded Aerohive Networks from a “strong sell” rating to a “sell” rating in a research note on Friday, November 10th. Finally, Dougherty & Co lowered Aerohive Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $6.25.

Shares of Aerohive Networks Inc (NYSE:HIVE) opened at $4.16 on Friday. Aerohive Networks Inc has a 1 year low of $3.02 and a 1 year high of $6.50. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.19 and a quick ratio of 1.95.

Aerohive Networks (NYSE:HIVE) last released its earnings results on Thursday, February 8th. The communications equipment provider reported ($0.06) earnings per share for the quarter. Aerohive Networks had a negative return on equity of 92.83% and a negative net margin of 14.99%. The firm had revenue of $37.20 million for the quarter, compared to analyst estimates of $37.04 million. During the same period last year, the business earned ($0.04) earnings per share. The firm’s quarterly revenue was down 10.8% compared to the same quarter last year. research analysts anticipate that Aerohive Networks Inc will post -0.34 earnings per share for the current year.

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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.

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

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