Aerohive Networks Inc (NYSE:HIVE) – Analysts at DA Davidson cut their Q1 2019 earnings per share estimates for shares of Aerohive Networks in a note issued to investors on Tuesday, April 16th. DA Davidson analyst M. Kelleher now anticipates that the communications equipment provider will post earnings per share of ($0.16) for the quarter, down from their prior estimate of ($0.06). DA Davidson also issued estimates for Aerohive Networks’ Q2 2019 earnings at ($0.11) EPS, Q3 2019 earnings at ($0.09) EPS, Q4 2019 earnings at ($0.06) EPS and FY2019 earnings at ($0.41) EPS.

Aerohive Networks (NYSE:HIVE) last issued its quarterly earnings data on Wednesday, February 6th. The communications equipment provider reported ($0.06) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. Aerohive Networks had a negative return on equity of 78.97% and a negative net margin of 11.84%. The company had revenue of $38.12 million during the quarter, compared to analyst estimates of $39.00 million.

HIVE has been the subject of several other research reports. Zacks Investment Research lowered Aerohive Networks from a “buy” rating to a “hold” rating in a report on Friday, January 18th. ValuEngine raised Aerohive Networks from a “hold” rating to a “buy” rating in a report on Thursday, February 28th. Finally, Dougherty & Co reissued a “neutral” rating on shares of Aerohive Networks in a report on Thursday, February 7th.

Shares of NYSE HIVE opened at $3.41 on Thursday. Aerohive Networks has a 12 month low of $3.19 and a 12 month high of $5.18. The stock has a market cap of $237.15 million, a PE ratio of -11.76 and a beta of 1.30.

Institutional investors and hedge funds have recently modified their holdings of the business. D. E. Shaw & Co. Inc. boosted its stake in Aerohive Networks by 13.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 790,401 shares of the communications equipment provider’s stock worth $2,577,000 after buying an additional 96,242 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Aerohive Networks by 213.8% in the third quarter. JPMorgan Chase & Co. now owns 363,770 shares of the communications equipment provider’s stock valued at $1,499,000 after purchasing an additional 247,850 shares during the last quarter. Jefferies Group LLC bought a new stake in Aerohive Networks in the third quarter valued at approximately $117,000. Citadel Advisors LLC lifted its position in Aerohive Networks by 188.3% in the third quarter. Citadel Advisors LLC now owns 97,963 shares of the communications equipment provider’s stock valued at $403,000 after purchasing an additional 63,986 shares during the last quarter. Finally, Strs Ohio lifted its position in Aerohive Networks by 122.7% in the fourth quarter. Strs Ohio now owns 157,200 shares of the communications equipment provider’s stock valued at $512,000 after purchasing an additional 86,600 shares during the last quarter. 59.24% of the stock is owned by institutional investors and hedge funds.

In other Aerohive Networks news, SVP Alan Amrod sold 40,555 shares of the company’s 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 completion of the sale, the senior vice president now owns 276,606 shares of the company’s stock, valued at $1,200,470.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Stephen Debenham sold 12,960 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $4.73, for a total value of $61,300.80. Following the completion of the sale, the vice president now directly owns 289,838 shares of the company’s stock, valued at approximately $1,370,933.74. The disclosure for this sale can be found here. 26.13% of the stock is currently owned by insiders.

Aerohive Networks Company 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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