Vanguard Group Inc. raised its holdings in Internap Corporation (NASDAQ:INAP) by 13.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,081,341 shares of the information technology services provider’s stock after acquiring an additional 365,676 shares during the quarter. Vanguard Group Inc. owned about 4.79% of Internap worth $11,309,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of INAP. California Public Employees Retirement System lifted its stake in Internap by 9.3% in the first quarter. California Public Employees Retirement System now owns 336,400 shares of the information technology services provider’s stock valued at $1,251,000 after acquiring an additional 28,500 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Internap by 6.8% in the first quarter. Geode Capital Management LLC now owns 335,826 shares of the information technology services provider’s stock valued at $1,249,000 after purchasing an additional 21,408 shares during the period. Morgan Stanley raised its position in shares of Internap by 91.3% in the first quarter. Morgan Stanley now owns 370,816 shares of the information technology services provider’s stock valued at $1,380,000 after purchasing an additional 176,932 shares during the period. Renaissance Technologies LLC raised its position in shares of Internap by 18.6% in the first quarter. Renaissance Technologies LLC now owns 1,854,219 shares of the information technology services provider’s stock valued at $6,898,000 after purchasing an additional 290,799 shares during the period. Finally, KCG Holdings Inc. raised its position in shares of Internap by 85.5% in the first quarter. KCG Holdings Inc. now owns 27,373 shares of the information technology services provider’s stock valued at $102,000 after purchasing an additional 12,620 shares during the period.
A number of equities analysts have recently commented on the stock. ValuEngine lowered shares of Internap from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Zacks Investment Research raised shares of Internap from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Wednesday, October 4th. Benchmark reissued a “buy” rating and issued a $24.00 price target (up previously from $20.00) on shares of Internap in a research report on Monday, September 25th. Finally, BidaskClub lowered shares of Internap from a “hold” rating to a “sell” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $23.25.
Shares of Internap Corporation (INAP) traded down $0.53 during mid-day trading on Thursday, reaching $14.05. 427,909 shares of the company were exchanged, compared to its average volume of 228,387. The company has a debt-to-equity ratio of 107.36, a quick ratio of 0.69 and a current ratio of 0.69. Internap Corporation has a fifty-two week low of $3.20 and a fifty-two week high of $22.36.
Internap (NASDAQ:INAP) last announced its quarterly earnings results on Thursday, November 2nd. The information technology services provider reported ($0.56) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.16). Internap had a negative net margin of 18.09% and a negative return on equity of 282.42%. The business had revenue of $68.91 million during the quarter, compared to the consensus estimate of $69.10 million. During the same period last year, the firm earned ($7.00) EPS. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. analysts predict that Internap Corporation will post -2.44 EPS for the current year.
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Internap Corporation is a technology provider of Internet infrastructure. The Company provides Internet infrastructure through both Colocation Business and Enterprise Services and Cloud Services. The Company operates through two segments: Data Center and Network Services, and Cloud and Hosting Services.
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