Renaissance Technologies LLC cut its stake in shares of Aerohive Networks, Inc. (NYSE:HIVE) by 7.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 837,900 shares of the communications equipment provider’s stock after selling 69,600 shares during the period. Renaissance Technologies LLC’s holdings in Aerohive Networks were worth $3,528,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in HIVE. Parametric Portfolio Associates LLC raised its position in Aerohive Networks by 0.9% in the first quarter. Parametric Portfolio Associates LLC now owns 109,437 shares of the communications equipment provider’s stock valued at $461,000 after buying an additional 948 shares in the last quarter. 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 valued at $352,000 after buying an additional 1,152 shares in the last quarter. Geode Capital Management LLC raised its position in Aerohive Networks by 2.4% in 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 buying an additional 6,421 shares in the last quarter. Citadel Advisors LLC purchased a new position in Aerohive Networks during the first quarter valued at $108,000. Finally, Trexquant Investment LP purchased a new position in Aerohive Networks during the first quarter valued at $121,000. 47.73% of the stock is currently owned by institutional investors and hedge funds.

Shares of Aerohive Networks, Inc. (HIVE) traded down 1.49% during midday trading on Thursday, hitting $3.30. The company had a trading volume of 74,497 shares. The firm’s market cap is $143.90 million. The company’s 50 day moving average is $4.69 and its 200 day moving average is $4.61. Aerohive Networks, Inc. has a one year low of $3.02 and a one year high of $7.00.

Aerohive Networks (NYSE:HIVE) last released its quarterly 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. The company had revenue of $42.30 million during the quarter, compared to the consensus estimate of $43.11 million. Aerohive Networks had a negative return on equity of 107.93% and a negative net margin of 18.58%. The firm’s revenue was down 11.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.02) EPS. Equities analysts forecast that Aerohive Networks, Inc. will post ($0.14) earnings per share for the current fiscal year.

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Several equities analysts have recently weighed in on the company. Zacks Investment Research lowered Aerohive Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. BidaskClub downgraded Aerohive Networks from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. DA Davidson reiterated a “buy” rating and set a $9.00 target price on shares of Aerohive Networks in a report on Friday, May 19th. Finally, Wunderlich upgraded Aerohive Networks from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $5.87.

In other Aerohive Networks news, CEO David K. Flynn bought 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was purchased at an average price of $4.30 per share, for a total transaction of $172,000.00. Following the purchase, the chief executive officer now directly owns 209,236 shares in the company, valued at $899,714.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John Ritchie bought 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were acquired at an average price of $4.31 per share, with a total value of $86,200.00. Following the purchase, the chief financial officer now owns 168,541 shares in the company, valued at $726,411.71. The disclosure for this purchase can be found here. Corporate insiders own 26.23% of the company’s stock.

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

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