TIAA CREF Investment Management LLC acquired a new position in shares of Internap Corporation (NASDAQ:INAP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 217,253 shares of the information technology services provider’s stock, valued at approximately $797,000. TIAA CREF Investment Management LLC owned about 0.34% of Internap Corporation at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INAP. Teachers Advisors LLC purchased a new position in shares of Internap Corporation in the 2nd quarter worth about $528,000. Symphony Asset Management LLC purchased a new position in shares of Internap Corporation in the 2nd quarter worth about $159,000. Wells Fargo & Company MN boosted its holdings in shares of Internap Corporation by 5,733.9% in the 2nd quarter. Wells Fargo & Company MN now owns 59,622 shares of the information technology services provider’s stock worth $219,000 after buying an additional 58,600 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Internap Corporation by 1,064.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 55,940 shares of the information technology services provider’s stock worth $205,000 after buying an additional 51,135 shares during the last quarter. Finally, Brighton Jones LLC purchased a new position in shares of Internap Corporation in the 2nd quarter worth about $160,000. 87.47% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Internap Corporation (NASDAQ:INAP) opened at $3.73 on Tuesday. Internap Corporation has a fifty-two week low of $0.80 and a fifty-two week high of $5.59. The company has a debt-to-equity ratio of 107.36, a current ratio of 0.69 and a quick ratio of 0.69.

Internap Corporation shares are set to reverse split on the morning of Monday, November 20th. The 1-4 reverse split was announced on Thursday, November 2nd. The number of shares owned by shareholders will be adjusted after the market closes on Friday, November 17th.

Internap Corporation (NASDAQ:INAP) last announced its quarterly earnings results on Thursday, November 2nd. The information technology services provider reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.04). Internap Corporation had a negative net margin of 18.09% and a negative return on equity of 282.42%. The company had revenue of $68.91 million for the quarter, compared to the consensus estimate of $69.10 million. During the same quarter in the prior year, the company earned ($1.75) earnings per share. The company’s quarterly revenue was down 6.8% on a year-over-year basis.

A number of equities analysts recently weighed in on INAP shares. Zacks Investment Research raised shares of Internap Corporation from a “hold” rating to a “buy” rating and set a $4.75 price target on the stock in a report on Wednesday, October 4th. Benchmark Co. reissued a “buy” rating and issued a $6.00 price target (up from $5.00) on shares of Internap Corporation in a report on Monday, September 25th. BidaskClub raised shares of Internap Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. Raymond James Financial, Inc. raised shares of Internap Corporation from an “outperform” rating to a “strong-buy” rating and set a $7.00 price objective on the stock in a report on Friday, August 4th. Finally, UBS AG raised shares of Internap Corporation from an “outperform” rating to a “strong-buy” rating in a report on Friday, August 4th. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Internap Corporation has an average rating of “Buy” and an average target price of $5.81.

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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.

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

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