Internap Corporation (INAP) Position Increased by UBS Oconnor LLC

UBS Oconnor LLC raised its position in shares of Internap Corporation (NASDAQ:INAP) by 725.7% during the first quarter, Holdings Channel reports. The firm owned 5,000,000 shares of the information technology services provider’s stock after buying an additional 4,394,481 shares during the period. UBS Oconnor LLC owned approximately 7.77% of Internap Corporation worth $18,600,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in INAP. KCG Holdings Inc. increased its stake in Internap Corporation by 85.5% in the first quarter. KCG Holdings Inc. now owns 27,373 shares of the information technology services provider’s stock worth $102,000 after buying an additional 12,620 shares during the period. Bank of America Corp DE increased its stake in Internap Corporation by 13.5% in the first quarter. Bank of America Corp DE now owns 127,510 shares of the information technology services provider’s stock worth $474,000 after buying an additional 15,180 shares during the period. Geode Capital Management LLC increased its stake in 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 during the period. California Public Employees Retirement System increased its stake in 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 during the period. Finally, Weiss Multi Strategy Advisers LLC increased its stake in Internap Corporation by 11.1% in the first quarter. Weiss Multi Strategy Advisers LLC now owns 350,000 shares of the information technology services provider’s stock worth $1,302,000 after buying an additional 35,000 shares during the period. 76.76% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Internap Corporation (NASDAQ:INAP)

Internap Corporation (NASDAQ:INAP) traded up 2.41% during midday trading on Friday, reaching $3.40. The company’s stock had a trading volume of 8,651,534 shares. Internap Corporation has a 1-year low of $0.80 and a 1-year high of $3.86. The company’s 50-day moving average price is $3.33 and its 200-day moving average price is $2.58. The company’s market capitalization is $218.79 million.

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A number of research firms have commented on INAP. Benchmark Co. reissued a “buy” rating and issued a $5.00 target price (up previously from $4.00) on shares of Internap Corporation in a report on Saturday, March 11th. Stifel Nicolaus raised Internap Corporation from a “hold” rating to a “buy” rating and raised their target price for the company from $2.00 to $5.50 in a report on Friday, March 10th. Finally, Zacks Investment Research raised Internap Corporation from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a report on Tuesday, May 16th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $4.55.

In other news, Director Peter J. Rogers, Jr. acquired 15,280 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was acquired at an average price of $3.29 per share, for a total transaction of $50,271.20. Following the completion of the acquisition, the director now directly owns 67,306 shares in the company, valued at approximately $221,436.74. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.83% of the company’s stock.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:INAP”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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