Boston Partners Grows Position in Aerohive Networks, Inc. (HIVE)

Boston Partners increased its position in shares of Aerohive Networks, Inc. (NYSE:HIVE) by 25.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,130,549 shares of the communications equipment provider’s stock after buying an additional 641,667 shares during the quarter. Boston Partners owned about 7.18% of Aerohive Networks worth $12,804,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in HIVE. Parametric Portfolio Associates LLC grew its stake in shares of Aerohive Networks by 0.9% in the 1st 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 during the last quarter. OppenheimerFunds Inc. grew its stake in shares of Aerohive Networks by 1.4% in the 1st 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 during the last quarter. Geode Capital Management LLC grew its stake in shares of Aerohive Networks by 2.4% in the 1st 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 during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Aerohive Networks by 18.3% in 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 during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Aerohive Networks by 33.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,056,900 shares of the communications equipment provider’s stock valued at $5,284,000 after purchasing an additional 263,879 shares during the last quarter. Institutional investors own 45.86% of the company’s stock.

Shares of Aerohive Networks, Inc. (NYSE HIVE) opened at $4.65 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.95 and a current ratio of 2.19. Aerohive Networks, Inc. has a 12 month low of $3.02 and a 12 month high of $6.14.

Aerohive Networks (NYSE:HIVE) last posted its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported ($0.03) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.02. Aerohive Networks had a negative return on equity of 103.45% and a negative net margin of 17.00%. The firm had revenue of $37.07 million for the quarter, compared to the consensus estimate of $38.41 million. During the same period in the previous year, the business earned ($0.06) earnings per share. The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. equities analysts predict that Aerohive Networks, Inc. will post -0.43 EPS for the current year.

Aerohive Networks declared that its Board of Directors has initiated a stock repurchase program on Wednesday, November 1st that permits the company to buyback $10.00 million in shares. This buyback authorization permits the communications equipment provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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Several brokerages have weighed in on HIVE. Zacks Investment Research downgraded 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 research note on Friday, July 28th. ValuEngine upgraded Aerohive Networks from a “strong sell” rating to a “sell” rating in a research note on Friday, November 10th. Finally, Craig Hallum began coverage on Aerohive Networks in a research note on Tuesday, October 17th. They issued a “buy” rating and a $6.00 target price on the stock. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Aerohive Networks currently has an average rating of “Hold” and a consensus target price of $6.05.

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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