Panagora Asset Management Inc. Has $1.28 Million Position in Aerohive Networks Inc (NYSE:HIVE)
Panagora Asset Management Inc. cut its stake in shares of Aerohive Networks Inc (NYSE:HIVE) by 70.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 288,072 shares of the communications equipment provider’s stock after selling 681,922 shares during the quarter. Panagora Asset Management Inc.’s holdings in Aerohive Networks were worth $1,276,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of HIVE. OMERS ADMINISTRATION Corp bought a new stake in Aerohive Networks in the second quarter valued at $1,148,000. JPMorgan Chase & Co. boosted its position in shares of Aerohive Networks by 5.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 662,156 shares of the communications equipment provider’s stock worth $2,953,000 after purchasing an additional 35,457 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Aerohive Networks by 10.3% in the 2nd quarter. Wells Fargo & Company MN now owns 63,557 shares of the communications equipment provider’s stock valued at $281,000 after buying an additional 5,949 shares during the period. Stone Ridge Asset Management LLC increased its position in Aerohive Networks by 24.0% in the 2nd quarter. Stone Ridge Asset Management LLC now owns 107,007 shares of the communications equipment provider’s stock valued at $474,000 after buying an additional 20,677 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Aerohive Networks in the 2nd quarter valued at about $2,193,000. 62.75% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have issued reports on HIVE. ValuEngine upgraded Aerohive Networks from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Craig Hallum downgraded Aerohive Networks from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Finally, Zacks Investment Research raised Aerohive Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th.
Aerohive Networks Profile
Aerohive Networks, Inc, together with its subsidiaries, designs and develops cloud networking and enterprise Wi-Fi solutions in the Americas, Europe, the Middle East and Africa, and the Asia Pacific. The company provides hardware products, such as wireless access points, branch routers, and switches; tiered maintenance and support services comprising technical support, bug fixes, access to priority hardware replacement service, and unspecified upgrades; and Software as a Service subscriptions, including comparable maintenance and support services.
Further Reading: Mutual funds are not immune from market timing
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.