Millennium Management LLC Has $12.01 Million Position in Aerohive Networks (HIVE)

Millennium Management LLC boosted its position in shares of Aerohive Networks (NYSE:HIVE) by 307.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,060,321 shares of the communications equipment provider’s stock after purchasing an additional 1,555,157 shares during the period. Millennium Management LLC owned about 3.84% of Aerohive Networks worth $12,012,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its position in 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 valued at $150,000 after buying an additional 7,258 shares during the period. California State Teachers Retirement System boosted its position in 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 valued at $278,000 after buying an additional 7,400 shares during the period. Wells Fargo & Company MN boosted its position in Aerohive Networks by 66.6% in the 3rd quarter. Wells Fargo & Company MN now owns 34,691 shares of the communications equipment provider’s stock valued at $142,000 after buying an additional 13,865 shares during the period. Worth Venture Partners LLC boosted its position in Aerohive Networks by 8.9% in the 4th quarter. Worth Venture Partners LLC now owns 181,836 shares of the communications equipment provider’s stock valued at $1,060,000 after buying an additional 14,915 shares during the period. Finally, Koch Industries Inc. purchased a new stake in Aerohive Networks in the 4th quarter valued at about $122,000. Institutional investors own 46.75% of the company’s stock.

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Several equities research analysts have issued reports on the stock. Dougherty & Co cut shares of Aerohive Networks from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 17th. Zacks Investment Research raised shares of Aerohive Networks from a “sell” rating to a “hold” rating in a research report on Saturday, February 3rd. Pi Financial lowered their price objective on shares of Aerohive Networks from $5.25 to $4.50 in a research report on Friday, March 2nd. Finally, ValuEngine cut shares of Aerohive Networks from a “sell” rating to a “strong sell” rating in a research report on Wednesday, March 28th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Aerohive Networks has an average rating of “Hold” and a consensus target price of $5.85.

Shares of HIVE opened at $3.87 on Friday. Aerohive Networks has a fifty-two week low of $3.02 and a fifty-two week high of $6.50. The company has a market capitalization of $206.97, a PE ratio of -9.44 and a beta of 1.17. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.24 and a quick ratio of 1.99.

Aerohive Networks (NYSE:HIVE) last announced its quarterly earnings results on Thursday, February 8th. The communications equipment provider reported ($0.06) earnings per share for the quarter. Aerohive Networks had a negative return on equity of 94.14% and a negative net margin of 14.99%. The business had revenue of $37.20 million during the quarter, compared to analysts’ expectations of $37.04 million. During the same period in the previous year, the company posted ($0.04) EPS. Aerohive Networks’s revenue for the quarter was down 10.8% on a year-over-year basis. equities analysts expect that Aerohive Networks will post -0.31 EPS for the current year.

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Aerohive Networks 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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