Sqn Investors Lp buys $16,598,457 stake in Aerohive Networks Inc (HIVE)

Aerohive Networks Inc (HIVE) : Sqn Investors Lp scooped up 71,255 additional shares in Aerohive Networks Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 3,051,187 shares of Aerohive Networks Inc which is valued at $16,598,457.Aerohive Networks Inc makes up approximately 11.85% of Sqn Investors Lp’s portfolio.

Other Hedge Funds, Including , Two Sigma Advisers Lp reduced its stake in HIVE by selling 22,400 shares or 19.38% in the most recent quarter. The Hedge Fund company now holds 93,200 shares of HIVE which is valued at $507,008.Rhumbline Advisers boosted its stake in HIVE in the latest quarter, The investment management firm added 420 additional shares and now holds a total of 22,511 shares of Aerohive Networks Inc which is valued at $116,382.Diam Ltd. boosted its stake in HIVE in the latest quarter, The investment management firm added 42,200 additional shares and now holds a total of 66,800 shares of Aerohive Networks Inc which is valued at $345,356. Aerohive Networks Inc makes up approx 0.01% of Diam Ltd.’s portfolio.

Aerohive Networks Inc opened for trading at $5.61 and hit $5.91 on the upside on Monday, eventually ending the session at $5.75, with a gain of 3.23% or 0.18 points. The heightened volatility saw the trading volume jump to 2,38,958 shares. Company has a market cap of $294 M.

On the company’s financial health, Aerohive Networks Inc reported $-0.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Nov 2, 2016. Analyst had a consensus of $-0.07. The company had revenue of $40.40 million for the quarter, compared to analysts expectations of $40.05 million. The company’s revenue was down -5.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.12 EPS.

Many Wall Street Analysts have commented on Aerohive Networks Inc. Shares were Downgraded by Wunderlich on Oct 14, 2016 to ” Hold” and Lowered the Price Target to $ 5 from a previous price target of $8 .Aerohive Networks Inc was Downgraded by Buckingham Research to ” Neutral” on Oct 14, 2016.

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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