Yiheng Capital buys $5.3 Million stake in Aerohive Networks Inc (HIVE)

Aerohive Networks Inc (HIVE) : Yiheng Capital scooped up 278,106 additional shares in Aerohive Networks Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 911,198 shares of Aerohive Networks Inc which is valued at $5.3 Million.Aerohive Networks Inc makes up approximately 3.58% of Yiheng Capital’s portfolio.

Other Hedge Funds, Including , Geode Capital Management boosted its stake in HIVE in the latest quarter, The investment management firm added 8,906 additional shares and now holds a total of 123,240 shares of Aerohive Networks Inc which is valued at $718,489.Spark Investment Management boosted its stake in HIVE in the latest quarter, The investment management firm added 31,924 additional shares and now holds a total of 144,000 shares of Aerohive Networks Inc which is valued at $839,520. Aerohive Networks Inc makes up approx 0.09% of Spark Investment Management’s portfolio.Blackrock Advisors boosted its stake in HIVE in the latest quarter, The investment management firm added 2,012 additional shares and now holds a total of 8,021 shares of Aerohive Networks Inc which is valued at $46,762.

Aerohive Networks Inc opened for trading at $6.34 and hit $6.41 on the upside on Wednesday, eventually ending the session at $6.38, with a gain of 2.08% or 0.13 points. The heightened volatility saw the trading volume jump to 1,55,041 shares. Company has a market cap of $316 M.

On the company’s financial health, Aerohive Networks Inc reported $-0.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 4, 2016. Analyst had a consensus of $-0.16. The company had revenue of $40.10 million for the quarter, compared to analysts expectations of $39.59 million. The company’s revenue was up 55.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.26 EPS.

Aerohive Networks Inc. together with its subsidiaries has designed and developed a cloud-managed mobile networking platform that enables enterprises to deploy a mobile-centric network edge. The Company’s hardware products are managed by the Company’s Cloud Services Platform which delivers cloud-managed network management and mobility applications giving end customers a single unified and contextual view of the entire network edge. The Company conducts its business in three geographic regions: Americas; Europe the Middle East and Africa (EMEA) and Asia Pacific (APAC). The Company’s product portfolio includes hardware products cloud-based network management and applications and support services. The Company’s hardware products include access points branch routers and access switches. The Company’s cloud-based product offering includes HiveManager ID Manager Client Management and Social Login applications.

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