S Squared Technology LLC Purchases Shares of 272,110 Aerohive Networks, Inc. (HIVE)
S Squared Technology LLC purchased a new position in shares of Aerohive Networks, Inc. (NYSE:HIVE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 272,110 shares of the communications equipment provider’s stock, valued at approximately $1,361,000. Aerohive Networks makes up approximately 1.2% of S Squared Technology LLC’s portfolio, making the stock its 28th biggest position. S Squared Technology LLC owned 0.51% of Aerohive Networks at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. Essex Investment Management Co. LLC purchased a new stake in Aerohive Networks in the 2nd quarter valued at approximately $100,000. Citadel Advisors LLC purchased a new stake in Aerohive Networks in the 1st quarter valued at approximately $108,000. Goldman Sachs Group Inc. lifted its stake in Aerohive Networks by 18.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,294 shares of the communications equipment provider’s stock valued at $111,000 after buying an additional 4,074 shares in the last quarter. Trexquant Investment LP purchased a new stake in Aerohive Networks in the 1st quarter valued at approximately $121,000. Finally, Rhumbline Advisers lifted its stake in Aerohive Networks by 23.8% in the 2nd 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. 44.70% of the stock is currently owned by institutional investors and hedge funds.
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HIVE has been the topic of a number of recent research reports. ValuEngine lowered Aerohive Networks from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 6th. Zacks Investment Research raised Aerohive Networks from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research note on Monday, May 22nd. BidaskClub lowered Aerohive Networks from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $9.00 target price on shares of Aerohive Networks in a research note on Friday, May 19th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $5.87.
Aerohive Networks, Inc. (NYSE HIVE) traded up 1.08% during midday trading on Monday, reaching $3.73. The company had a trading volume of 76,185 shares. The company’s market capitalization is $162.65 million. The company’s 50 day moving average is $3.72 and its 200-day moving average is $4.31. Aerohive Networks, Inc. has a 52-week low of $3.02 and a 52-week high of $6.35.
Aerohive Networks (NYSE:HIVE) last issued its 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 firm had revenue of $42.30 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 11.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.02) earnings per share. Equities analysts expect that Aerohive Networks, Inc. will post ($0.14) earnings per share for the current fiscal year.
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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