New York State Common Retirement Fund raised its holdings in Aerohive Networks Inc (NYSE:HIVE) by 292.3% during the third quarter, Holdings Channel reports. The institutional investor owned 83,169 shares of the communications equipment provider’s stock after buying an additional 61,969 shares during the quarter. New York State Common Retirement Fund’s holdings in Aerohive Networks were worth $340,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company grew its position in shares of Aerohive Networks by 31.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,090 shares of the communications equipment provider’s stock worth $150,000 after buying an additional 7,258 shares during the last quarter. Rhumbline Advisers grew its position in shares of Aerohive Networks by 23.8% in the 2nd quarter. Rhumbline Advisers now owns 31,530 shares of the communications equipment provider’s stock worth $158,000 after buying an additional 6,061 shares during the last quarter. Thompson Davis & CO. Inc. bought a new stake in shares of Aerohive Networks in the 2nd quarter worth approximately $161,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Aerohive Networks in the 2nd quarter worth approximately $201,000. Finally, California State Teachers Retirement System grew its position in shares of Aerohive Networks by 15.3% in the 2nd quarter. California State Teachers Retirement System now owns 55,641 shares of the communications equipment provider’s stock worth $278,000 after buying an additional 7,400 shares during the last quarter. Hedge funds and other institutional investors own 46.13% of the company’s stock.
A number of research firms have recently commented on HIVE. Zacks Investment Research cut Aerohive Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. 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 for the company. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $6.05.
Aerohive Networks Inc (NYSE HIVE) opened at $5.81 on Monday. The company has a market capitalization of $311.41, a P/E ratio of -11.62 and a beta of 1.79. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.19 and a quick ratio of 1.95. Aerohive Networks Inc has a one year low of $3.02 and a one year high of $6.50.
Aerohive Networks (NYSE:HIVE) last released its earnings results on Wednesday, November 1st. The communications equipment provider reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.02. The company had revenue of $37.07 million during the quarter, compared to analysts’ expectations of $38.41 million. Aerohive Networks had a negative return on equity of 103.45% and a negative net margin of 17.00%. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) EPS. analysts expect that Aerohive Networks Inc will post -0.43 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This piece was published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece on another website, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this piece can be accessed at https://www.dispatchtribunal.com/2018/01/08/aerohive-networks-inc-hive-stake-raised-by-new-york-state-common-retirement-fund.html.
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.
Want to see what other hedge funds are holding HIVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aerohive Networks Inc (NYSE:HIVE).
Receive News & Ratings for Aerohive Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aerohive Networks and related companies with MarketBeat.com's FREE daily email newsletter.