In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Aerohive Networks Inc. (NYSE:HIVE) reported that Discovery Group I, Llc. has picked up 4,284,507 of common stock as of 2017-05-11.
The acquisition brings the aggregate amount owned by Discovery Group I, Llc. to a total of 4,284,507 representing less than 8.1% stake in the company.
For those not familiar with the company, 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. It conducts its business in geographic regions, including Americas; Europe, the Middle East and Africa, and Asia Pacific. Its product portfolio includes hardware products, cloud-based network management and applications, and support services. Its hardware products include access points, branch routers and access switches. Its hardware products are developed by its hardware design team working in conjunction with original design manufacturer partners, and leverage the commercially available Wi-Fi radios, network processors, crypto accelerators and switching chips.
A glance at Aerohive Networks Inc. (NYSE:HIVE)’s key stats reveals a current market capitalization of 221.93 Million based on 52.84 Million shares outstanding and a price at last close of $4.20 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-09-04, Flynn picked up 3,728 at a purchase price of $6.16. This brings their total holding to 40,000 as of the date of the filing.
On the sell side, the most recent transaction saw Wilburn unload 20,000 shares at a sale price of $6.00. This brings their total holding to 280,924.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Aerohive Networks Inc. (NYSE:HIVE) as things move forward to see if its progress aligns with these transactions.
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