Goldman Sachs Group Inc. raised its position in shares of Internap Corporation (NASDAQ:INAP) by 47.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 437,210 shares of the information technology services provider’s stock after buying an additional 140,465 shares during the period. Goldman Sachs Group Inc. owned about 0.80% of Internap Corporation worth $1,626,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC raised its stake in shares of Internap Corporation by 6.8% in the first quarter. Geode Capital Management LLC now owns 335,826 shares of the information technology services provider’s stock worth $1,249,000 after buying an additional 21,408 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Internap Corporation by 162.2% in the first quarter. Vanguard Group Inc. now owns 2,715,665 shares of the information technology services provider’s stock worth $10,102,000 after buying an additional 1,680,128 shares in the last quarter. Segantii Capital Management Ltd purchased a new stake in shares of Internap Corporation during the first quarter worth about $380,000. California Public Employees Retirement System raised its stake in shares of Internap Corporation 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 worth $1,251,000 after buying an additional 28,500 shares in the last quarter. Finally, Avenir Corp raised its stake in shares of Internap Corporation by 289.0% in the first quarter. Avenir Corp now owns 7,840,204 shares of the information technology services provider’s stock worth $29,166,000 after buying an additional 5,824,967 shares in the last quarter. Institutional investors and hedge funds own 77.37% of the company’s stock.
Internap Corporation (NASDAQ INAP) traded up 1.148% during trading on Monday, reaching $4.319. The company’s stock had a trading volume of 270,805 shares. The company’s market capitalization is $277.93 million. Internap Corporation has a 52 week low of $0.80 and a 52 week high of $4.37. The company has a 50 day moving average price of $3.73 and a 200-day moving average price of $3.08.
Internap Corporation (NASDAQ:INAP) last announced its earnings results on Thursday, August 3rd. The information technology services provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $69.64 million for the quarter, compared to analyst estimates of $70.59 million. Internap Corporation had a negative net margin of 45.52% and a negative return on equity of 234.35%. Internap Corporation’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.21) EPS. Equities research analysts anticipate that Internap Corporation will post ($0.28) earnings per share for the current year.
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A number of analysts have recently issued reports on INAP shares. Zacks Investment Research raised Internap Corporation from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a research note on Tuesday, May 16th. BidaskClub lowered Internap Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Raymond James Financial, Inc. raised Internap Corporation from an “outperform” rating to a “strong-buy” rating and set a $7.00 price target on the stock in a research note on Friday. Finally, UBS AG raised Internap Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $4.95.
In other Internap Corporation news, major shareholder Park West Asset Management Llc sold 125,000 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $4.19, for a total transaction of $523,750.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Peter J. Rogers, Jr. bought 15,280 shares of the stock in a transaction on Tuesday, May 30th. The shares were bought at an average price of $3.29 per share, for a total transaction of $50,271.20. Following the acquisition, the director now owns 67,306 shares in the company, valued at approximately $221,436.74. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 3,482,700 shares of company stock worth $13,640,242. 5.83% of the stock is owned by insiders.
Internap Corporation Company Profile
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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