Aerohive Networks Inc (HIVE): Discovery Group Slightly Ups Its Stake

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

The total purchase price for the 4,154,136 shares of Common
Stock beneficially owned by the Reporting Persons as of May 17, 2016 was approximately $24,619,388. 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 and Messrs. Donoghue and Murphy.

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 shares of 49,451,573 Common Stock outstanding as of May 2, 2016,
as reported in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2016.

Discovery Equity Partners beneficially owns 4,154,136 shares
of Common Stock as of May 17, 2016, which represents 8.4% of the outstanding Common Stock.

Discovery Group beneficially owns 4,154,136 shares of Common
Stock as of May 17, 2016, which represents 8.4% of the outstanding Common Stock.

Mr. Donoghue beneficially owns 4,154,136 shares of Common Stock
as of May 17, 2016, which represents 8.4% of the outstanding Common Stock.

Mr. Murphy beneficially owns 4,154,136 shares of Common Stock
as of May 17, 2016, which represents 8.4% of the outstanding Common Stock..

Discovery Group is the
sole general partner of Discovery Equity Partners.  Messrs. Donoghue and Murphy are the sole managing members of Discovery
Group.  As a consequence, Discovery Group and Messrs. Donoghue and Murphy may be deemed to share beneficial ownership
of all of the shares of Common Stock owned by Discovery Equity Partners.

The transactions in Common Stock effected by the Reporting Persons
during the past 60 days are set out in Exhibit 1 hereto.

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. 3 included as Exhibit 2 to this Amendment No. 3, and the Powers of Attorney granted by Messrs
Donoghue and Murphy with respect to reports under Section 13 of the Securities Exchange Act of 1934, as amended, which Powers of
Attorney are included as Exhibit 3 and Exhibit 4, respectively, to this Amendment No. 3.

DISCOVERY GROUP I, LLC,

for itself and as general partner of

DISCOVERY EQUITY PARTNERS, L.P.

Mark Buckley

Attorney-in-Fact for Daniel J. Donoghue

Attorney-in-Fact for Michael R. Murphy