Granahan Investment Management Inc. MA Has $5.39 Million Stake in Aerohive Networks, Inc. (HIVE)

Granahan Investment Management Inc. MA decreased its position in Aerohive Networks, Inc. (NYSE:HIVE) by 32.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,279,645 shares of the communications equipment provider’s stock after selling 627,089 shares during the period. Granahan Investment Management Inc. MA owned 2.93% of Aerohive Networks worth $5,387,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the company. Boston Partners increased its position in shares of Aerohive Networks by 29.0% in the first quarter. Boston Partners now owns 2,602,810 shares of the communications equipment provider’s stock worth $10,958,000 after buying an additional 585,565 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Aerohive Networks by 6.3% in the first quarter. Vanguard Group Inc. now owns 956,657 shares of the communications equipment provider’s stock worth $4,028,000 after buying an additional 56,984 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Aerohive Networks by 36.7% in the first quarter. Russell Investments Group Ltd. now owns 793,021 shares of the communications equipment provider’s stock worth $3,339,000 after buying an additional 212,899 shares during the last quarter. Mutual of America Capital Management LLC increased its position in shares of Aerohive Networks by 8.0% in the first quarter. Mutual of America Capital Management LLC now owns 680,519 shares of the communications equipment provider’s stock worth $2,865,000 after buying an additional 50,323 shares during the last quarter. Finally, VIEX Capital Advisors LLC bought a new position in shares of Aerohive Networks during the first quarter worth approximately $1,578,000. Hedge funds and other institutional investors own 53.31% of the company’s stock.

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

Aerohive Networks, Inc. (NYSE:HIVE) traded up 5.19% during midday trading on Tuesday, reaching $5.47. The company’s stock had a trading volume of 3,313,240 shares. Aerohive Networks, Inc. has a 1-year low of $3.66 and a 1-year high of $7.45. The company has a 50 day moving average price of $4.56 and a 200 day moving average price of $4.84. The firm’s market cap is $238.52 million.

Aerohive Networks (NYSE:HIVE) last issued its quarterly earnings results on Wednesday, May 3rd. The communications equipment provider reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.09. Aerohive Networks had a negative return on equity of 109.99% and a negative net margin of 20.12%. The company had revenue of $36.35 million for the quarter, compared to analyst estimates of $35.88 million. During the same quarter in the prior year, the company posted ($0.13) EPS. The business’s revenue for the quarter was down 9.4% compared to the same quarter last year. On average, equities research analysts expect that Aerohive Networks, Inc. will post ($0.06) EPS for the current year.

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HIVE has been the topic of a number of analyst reports. Wunderlich upgraded Aerohive Networks from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a research report on Thursday, May 4th. Zacks Investment Research upgraded Aerohive Networks from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a research report on Monday, May 22nd. Finally, DA Davidson reiterated a “buy” rating and set a $9.00 price objective on shares of Aerohive Networks in a research report on Friday, May 19th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $6.11.

In other news, CEO David K. Flynn bought 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were acquired at an average cost of $4.30 per share, with a total value of $172,000.00. Following the transaction, the chief executive officer now owns 209,236 shares of the company’s stock, valued at approximately $899,714.80. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO John Ritchie bought 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was purchased at an average cost 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 approximately $726,411.71. The disclosure for this purchase can be found here. Company insiders own 26.23% of the company’s stock.

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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