BlackRock Inc. Has $14.34 Million Position in Internap Corp (INAP)

BlackRock Inc. boosted its position in shares of Internap Corp (NASDAQ:INAP) by 6.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,375,879 shares of the information technology services provider’s stock after purchasing an additional 84,729 shares during the period. BlackRock Inc. owned about 6.48% of Internap worth $14,336,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of INAP. Schwab Charles Investment Management Inc. lifted its holdings in Internap by 5.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 147,573 shares of the information technology services provider’s stock worth $1,624,000 after purchasing an additional 7,866 shares during the last quarter. Northern Trust Corp lifted its holdings in Internap by 4.3% in the 1st quarter. Northern Trust Corp now owns 231,410 shares of the information technology services provider’s stock worth $2,545,000 after purchasing an additional 9,613 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Internap by 15.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 575,905 shares of the information technology services provider’s stock worth $6,335,000 after purchasing an additional 76,747 shares during the last quarter. Sei Investments Co. acquired a new stake in Internap in the 1st quarter worth approximately $473,000. Finally, Guggenheim Capital LLC lifted its holdings in Internap by 25.6% in the 1st quarter. Guggenheim Capital LLC now owns 101,412 shares of the information technology services provider’s stock worth $1,115,000 after purchasing an additional 20,682 shares during the last quarter. Institutional investors own 83.90% of the company’s stock.

Shares of NASDAQ:INAP opened at $8.42 on Wednesday. Internap Corp has a fifty-two week low of $8.06 and a fifty-two week high of $19.00. The firm has a market capitalization of $188.21 million, a price-to-earnings ratio of -5.43 and a beta of 2.26. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 72.60.



Internap (NASDAQ:INAP) last posted its quarterly earnings data on Thursday, August 2nd. The information technology services provider reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.22. The company had revenue of $81.96 million for the quarter, compared to analyst estimates of $81.76 million. Internap had a negative return on equity of 2,471.65% and a negative net margin of 15.52%. The business’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.24) earnings per share. As a group, research analysts predict that Internap Corp will post -2.27 EPS for the current fiscal year.

Several research analysts have commented on the company. Zacks Investment Research downgraded Internap from a “buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub raised Internap from a “sell” rating to a “hold” rating in a research report on Wednesday, July 11th. Stifel Nicolaus set a $13.00 price target on Internap and gave the stock a “hold” rating in a research report on Friday, August 3rd. ValuEngine raised Internap from a “strong sell” rating to a “sell” rating in a research report on Friday, August 3rd. Finally, SunTrust Banks began coverage on Internap in a research report on Tuesday, September 18th. They set a “buy” rating and a $22.00 price objective on the stock. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $19.75.

Internap Profile

Internap Corporation provides Internet infrastructure services. It operates through two business segments, INAP COLO and INAP CLOUD. The INAP COLO segment offers colocation services, including physical space within data centers and related services, such as power, interconnection, environmental controls, monitoring, and security; and Internet protocol (IP) connectivity services comprising its patented Performance IP and content delivery network services, IP routing hardware and software platforms, and Managed Internet Route Optimizer controllers.

See Also: 52-Week High/Low

Institutional Ownership by Quarter for Internap (NASDAQ:INAP)

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