Marshall Wace North America L.P. Takes $2.04 Million Position in Aerohive Networks, Inc. (HIVE)
Marshall Wace North America L.P. bought a new stake in shares of Aerohive Networks, Inc. (NYSE:HIVE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 408,298 shares of the communications equipment provider’s stock, valued at approximately $2,041,000. Marshall Wace North America L.P. owned approximately 0.94% of Aerohive Networks as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Essex Investment Management Co. LLC bought a new stake in Aerohive Networks during the 2nd quarter valued at $100,000. Citadel Advisors LLC bought a new stake in Aerohive Networks during the 1st quarter valued at $108,000. Goldman Sachs Group Inc. raised its position in Aerohive Networks by 18.3% during the 1st 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. Trexquant Investment LP bought a new stake in Aerohive Networks during the 1st quarter valued at $121,000. Finally, Rhumbline Advisers raised its position in Aerohive Networks by 23.8% during the 2nd 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. 44.70% of the stock is owned by institutional investors and hedge funds.
HIVE has been the subject of a number of research analyst reports. BidaskClub lowered Aerohive Networks from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Zacks Investment Research raised Aerohive Networks from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a research report on Monday, May 22nd. Finally, DA Davidson reaffirmed a “buy” rating and set a $9.00 target price on shares of Aerohive Networks in a research report on Friday, May 19th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $5.87.
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Aerohive Networks, Inc. (NYSE:HIVE) opened at 3.43 on Tuesday. The stock’s market capitalization is $149.57 million. Aerohive Networks, Inc. has a one year low of $3.02 and a one year high of $6.92. The stock has a 50 day moving average price of $3.92 and a 200-day moving average price of $4.37.
Aerohive Networks (NYSE:HIVE) last posted its quarterly earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. Aerohive Networks had a negative return on equity of 107.93% and a negative net margin of 18.58%. The company had revenue of $42.30 million for the quarter, compared to analysts’ expectations of $43.11 million. During the same period last year, the firm earned ($0.02) earnings per share. Aerohive Networks’s quarterly revenue was down 11.2% on a year-over-year basis. Analysts anticipate that Aerohive Networks, Inc. will post ($0.14) earnings per share for the current 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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