Creative Planning held its position in Aerohive Networks, Inc. (NYSE:HIVE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 203,465 shares of the communications equipment provider’s stock at the end of the second quarter. Creative Planning owned approximately 0.39% of Aerohive Networks worth $1,017,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Citadel Advisors LLC bought a new position in Aerohive Networks during the first quarter worth $108,000. Goldman Sachs Group Inc. raised its position in 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 during the period. Trexquant Investment LP bought a new position in Aerohive Networks during the first quarter worth $121,000. Stoneridge Investment Partners LLC bought a new position in Aerohive Networks during the first quarter worth $134,000. Finally, OppenheimerFunds Inc. raised its position in 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 during the period. 53.83% of the stock is owned by institutional investors.
Shares of Aerohive Networks, Inc. (NYSE:HIVE) traded down 2.74% during trading on Monday, hitting $4.61. The stock had a trading volume of 102,499 shares. The firm’s market cap is $201.02 million. The firm has a 50 day moving average price of $4.97 and a 200 day moving average price of $4.72. Aerohive Networks, Inc. has a 12-month low of $3.66 and a 12-month high of $7.40.
Aerohive Networks (NYSE:HIVE) last announced its quarterly earnings results on Wednesday, May 3rd. The communications equipment provider reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.09. The company had revenue of $36.35 million for the quarter, compared to the consensus estimate of $35.88 million. Aerohive Networks had a negative return on equity of 109.99% and a negative net margin of 20.12%. The firm’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.13) EPS. On average, equities analysts expect that Aerohive Networks, Inc. will post ($0.06) earnings per share for the current fiscal year.
A number of research analysts recently weighed in on the company. BidaskClub lowered Aerohive Networks from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Zacks Investment Research lowered Aerohive Networks from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. DA Davidson reissued a “buy” rating and issued a $9.00 target price on shares of Aerohive Networks in a report on Friday, May 19th. Finally, Wunderlich raised Aerohive Networks from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a report on Thursday, May 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $6.11.
In other Aerohive Networks news, CEO David K. Flynn bought 40,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were purchased at an average cost of $4.30 per share, for a total transaction of $172,000.00. Following the transaction, the chief executive officer now directly owns 209,236 shares of the company’s stock, valued at $899,714.80. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO John Ritchie bought 20,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were acquired at an average price of $4.31 per share, for a total transaction of $86,200.00. Following the completion of the transaction, the chief financial officer now directly owns 168,541 shares in the company, valued at $726,411.71. The disclosure for this purchase can be found here. 26.23% of the stock is currently owned by company insiders.
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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