Mutual of America Capital Management LLC Reduces Position in Aerohive Networks, Inc. (HIVE)

Mutual of America Capital Management LLC decreased its stake in shares of Aerohive Networks, Inc. (NYSE:HIVE) by 48.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 351,084 shares of the communications equipment provider’s stock after selling 329,435 shares during the quarter. Mutual of America Capital Management LLC owned about 0.65% of Aerohive Networks worth $1,755,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of HIVE. Parametric Portfolio Associates LLC raised its stake in Aerohive Networks by 0.9% during the first quarter. Parametric Portfolio Associates LLC now owns 109,437 shares of the communications equipment provider’s stock valued at $461,000 after purchasing an additional 948 shares in the last quarter. OppenheimerFunds Inc. raised its stake in Aerohive Networks by 1.4% during the first quarter. OppenheimerFunds Inc. now owns 83,636 shares of the communications equipment provider’s stock valued at $352,000 after purchasing an additional 1,152 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Aerohive Networks by 18.3% during the first quarter. Goldman Sachs Group Inc. now owns 26,294 shares of the communications equipment provider’s stock valued at $111,000 after purchasing an additional 4,074 shares in the last quarter. Rhumbline Advisers raised its stake in Aerohive Networks by 23.8% during the second quarter. Rhumbline Advisers now owns 31,530 shares of the communications equipment provider’s stock valued at $158,000 after purchasing an additional 6,061 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Aerohive Networks by 2.4% during the first quarter. Geode Capital Management LLC now owns 276,186 shares of the communications equipment provider’s stock valued at $1,162,000 after purchasing an additional 6,421 shares in the last quarter. Hedge funds and other institutional investors own 44.70% of the company’s stock.

A number of research firms recently issued reports on HIVE. ValuEngine raised shares of Aerohive Networks from a “strong sell” rating to a “sell” rating in a research note on Monday. Zacks Investment Research downgraded shares of Aerohive Networks from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Finally, BidaskClub downgraded shares of Aerohive Networks from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $6.05.

Shares of Aerohive Networks, Inc. (NYSE:HIVE) opened at 4.10 on Friday. The stock’s market cap is $178.78 million. The company’s 50-day moving average is $3.70 and its 200-day moving average is $4.23. Aerohive Networks, Inc. has a 1-year low of $3.02 and a 1-year high of $6.14.

Aerohive Networks (NYSE:HIVE) last announced its earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. Aerohive Networks had a negative net margin of 18.58% and a negative return on equity of 107.93%. The company had revenue of $42.30 million for the quarter, compared to analysts’ expectations of $43.11 million. During the same quarter in the previous year, the company posted ($0.02) EPS. The firm’s quarterly revenue was down 11.2% on a year-over-year basis. Equities analysts expect that Aerohive Networks, Inc. will post ($0.14) EPS for the current fiscal year.

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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.

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

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