Standard Life Aberdeen plc cut its position in Aerohive Networks Inc (NYSE:HIVE) by 33.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 37,387 shares of the communications equipment provider’s stock after selling 19,078 shares during the period. Standard Life Aberdeen plc’s holdings in Aerohive Networks were worth $122,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Mutual of America Capital Management LLC boosted its position in shares of Aerohive Networks by 3.4% in the 3rd quarter. Mutual of America Capital Management LLC now owns 391,129 shares of the communications equipment provider’s stock valued at $1,611,000 after purchasing an additional 12,841 shares during the period. Rhumbline Advisers boosted its position in shares of Aerohive Networks by 51.3% in the 4th quarter. Rhumbline Advisers now owns 42,443 shares of the communications equipment provider’s stock valued at $138,000 after purchasing an additional 14,394 shares during the period. Teachers Advisors LLC boosted its position in shares of Aerohive Networks by 7.3% in the 3rd quarter. Teachers Advisors LLC now owns 244,874 shares of the communications equipment provider’s stock valued at $1,009,000 after purchasing an additional 16,748 shares during the period. SG Americas Securities LLC purchased a new stake in Aerohive Networks during the 4th quarter valued at approximately $68,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Aerohive Networks during the 4th quarter valued at approximately $68,000. 59.14% of the stock is owned by hedge funds and other institutional investors.
Several analysts have commented on the company. ValuEngine raised Aerohive Networks from a “hold” rating to a “buy” rating in a research note on Thursday, February 28th. Zacks Investment Research raised Aerohive Networks from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a research note on Wednesday, February 13th. Finally, Dougherty & Co reaffirmed a “neutral” rating on shares of Aerohive Networks in a research note on Thursday, February 7th.
In other news, VP Stephen Debenham sold 12,960 shares of the 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 transaction, the vice president now directly owns 289,838 shares of the company’s stock, valued at approximately $1,370,933.74. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Alan Amrod sold 40,555 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $4.34, for a total value of $176,008.70. Following the transaction, the senior vice president now directly owns 276,606 shares of the company’s stock, valued at $1,200,470.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,306 shares of company stock valued at $240,426. 26.13% of the stock is owned by company insiders.
HIVE traded up $0.01 on Tuesday, hitting $4.61. 4,629 shares of the company traded hands, compared to its average volume of 426,593. The company has a market cap of $245.82 million, a PE ratio of -15.90 and a beta of 1.32. Aerohive Networks Inc has a 12-month low of $3.19 and a 12-month high of $5.18.
Aerohive Networks (NYSE:HIVE) last posted its quarterly earnings data on Wednesday, February 6th. The communications equipment provider reported ($0.06) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. The firm had revenue of $38.12 million during the quarter, compared to the consensus estimate of $39.00 million. Aerohive Networks had a negative return on equity of 76.07% and a negative net margin of 11.84%. Analysts predict that Aerohive Networks Inc will post -0.19 earnings per share for the current fiscal year.
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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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