13D Filing: Discovery Group I, LLC and Aerohive Networks Inc (HIVE)

UNITED STATES

SECURITIES AND
EXCHANGE COMMISSION

Washington,
D.C. 20549

SCHEDULE
13D

(Rule 13d-101)

INFORMATION
TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO §
240.13d-1(a) AND AMENDMENTS THERETO FILED

PURSUANT
TO § 240.13d-2(a)

Item 3 of the Schedule 13D is hereby amended to read in its entirety
as follows:

The total purchase price for the 2,551,879 shares of Common Stock
beneficially owned by the Reporting Persons as of May 31, 2017 was $16,866,373. The source of such funds was the assets of Discovery
Equity Partners, including proceeds of margin loans under margin loan facilities maintained in the ordinary course of business
by Discovery Equity Partners with a broker on customary terms and conditions. Discovery Equity Partners is the legal owner of all
of the Common Stock beneficially owned by Discovery Group.

Item 5 of the Schedule 13D is hereby amended to read in its entirety
as follows:

The information concerning percentages of ownership set forth below
is based on 52,840,074 shares of Common Stock outstanding as of April 28, 2017, as reported in the Company’s Quarterly Report
on Form 10-Q for the quarter ended March 31, 2017.

Discovery Equity Partners beneficially owns 2,551,879 shares of
Common Stock as of June 12, 2017, which represents 4.8% of the outstanding Common Stock.

Discovery Group beneficially owns 2,551,879 shares of Common Stock
as of June 12, 2017, which represents 4.8% of the outstanding Common Stock.

Discovery Group is the investment
manager of Discovery Equity Partners.   Discovery Group exercises ultimate voting and dispositive power of the securities
held by Discovery Equity Partners. As a consequence, Discovery Group may be deemed to share beneficial ownership of all of the
Common Shares owned by Discovery Equity Partners. Voting and disposition decisions at Discovery Group with respect to the investment
of such securities are made by a five-person investment committee (the “Committee”) which makes such investment
decisions by majority vote. No member of the Committee may act individually to vote or sell Common Shares held by Discovery Equity
Partners, nor does any such member have a veto right concerning the vote or sale of any such common stock. Accordingly, no individual
member of the Committee is deemed to beneficially own, and each individual member of the Committee expressly disclaims beneficial
ownership of, within the meaning of Rule 13d-3, any Common Shares held by Discovery Equity Partners solely by virtue of the fact
that he or she is a member of the Committee.

The transactions in Common Stock effected by the Reporting Persons
since those reported in the Schedule 13D filed by the Reporting Persons on June 1, 2017 are set out in Exhibit 1 hereto.

The Reporting Persons ceased to be beneficial owners of more than
five percent of the Common Stock on June 9, 2017.

No person other than Discovery
Equity Partners is known to any Reporting Person to have the right to receive or the power to direct the receipt of dividends
from, or the proceeds from the sale of, any of the shares of Common Stock reported herein.

Item 6 of the Schedule 13D is hereby amended to read in its entirety
as follows:

There are no contracts, arrangements,
understandings or relationships (legal or otherwise) between or among any of the Reporting Persons and any other person with respect
to any securities of the Company other than the governing documents of Discovery Group and Discovery Equity Partners, the
margin loan facilities referred to under Item 3 above, the Joint Filing Agreements of the Reporting Persons with respect to the
Schedule 13D that were included as exhibits thereto, the Joint Filing Agreement of the Reporting Persons with respect to this Amendment
No. 7 included as Exhibit 2 to this Amendment No. 7, and the Power of Attorney granted by Michael R. Murphy with respect
to reports under Section 13 of the Securities Exchange Act of 1934, as amended, which Power of Attorney is included as Exhibit
3 to this Amendment No. 7.

Date

DISCOVERY EQUITY PARTNERS, L.P.

By: Michael R. Murphy*

DISCOVERY GROUP I, LLC

By: Michael R. Murphy*

Mark Buckley

Attorney-in-Fact for Michael R. Murphy

List of transactions effected by the Reporting Persons
in the Company’s Common Stock since those reported in the Schedule 13D filed by the Reporting Persons on June 1, 2017.

Joint Filing Agreement dated as of June 13, 2017, by and
between Discovery Equity Partners and Discovery Group.