KCG Holdings Inc. raised its stake in Internap Corporation (NASDAQ:INAP) by 85.5% during the first quarter, Holdings Channel reports. The institutional investor owned 27,373 shares of the information technology services provider’s stock after buying an additional 12,620 shares during the period. KCG Holdings Inc.’s holdings in Internap Corporation were worth $102,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC increased its position 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 valued at $1,249,000 after buying an additional 21,408 shares in the last quarter. Vanguard Group Inc. increased its position in 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 valued at $10,102,000 after buying an additional 1,680,128 shares in the last quarter. Segantii Capital Management Ltd purchased a new position in Internap Corporation during the first quarter valued at approximately $380,000. California Public Employees Retirement System increased its position 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 valued at $1,251,000 after buying an additional 28,500 shares in the last quarter. Finally, Avenir Corp increased its position in 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 valued at $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 (INAP) traded down 6.25% during trading on Friday, reaching $4.20. The company’s stock had a trading volume of 1,431,615 shares. The company’s market cap is $333.93 million. Internap Corporation has a 52-week low of $0.80 and a 52-week high of $4.79. The stock has a 50-day moving average price of $3.94 and a 200 day moving average price of $3.20.

Internap Corporation (NASDAQ:INAP) last issued its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.01. Internap Corporation had a negative return on equity of 234.35% and a negative net margin of 45.52%. The firm had revenue of $69.64 million for the quarter, compared to the consensus estimate of $70.59 million. During the same period last year, the firm earned ($0.21) EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, analysts expect that Internap Corporation will post ($0.42) EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “Internap Corporation (INAP) Stake Raised by KCG Holdings Inc.” was originally published by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another publication, it was stolen and reposted in violation of international trademark and copyright legislation. The correct version of this news story can be read at https://www.watchlistnews.com/internap-corporation-inap-stake-raised-by-kcg-holdings-inc/1479077.html.

INAP has been the subject of several research reports. BidaskClub upgraded Internap Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Zacks Investment Research upgraded Internap Corporation from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a research report on Tuesday, May 16th. Raymond James Financial, Inc. upgraded Internap Corporation from an “outperform” rating to a “strong-buy” rating and set a $7.00 target price for the company in a research report on Friday, August 4th. Finally, UBS AG upgraded Internap Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Friday, August 4th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. Internap Corporation currently has a consensus rating of “Buy” and a consensus price target of $5.31.

In other news, major shareholder Park West Asset Management Llc sold 125,000 shares of the business’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $4.19, for a total value of $523,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter J. Rogers, Jr. bought 15,280 shares of the stock in a transaction dated Tuesday, May 30th. The stock was bought at an average cost of $3.29 per share, with a total value of $50,271.20. Following the purchase, 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 ninety days, insiders have sold 3,482,700 shares of company stock valued at $13,640,242. Corporate insiders own 5.83% of the company’s stock.

About Internap Corporation

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.

Want to see what other hedge funds are holding INAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Internap Corporation (NASDAQ:INAP).

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

Receive News & Ratings for Internap Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Internap Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.