Bank of New York Mellon Corp Cuts Stake in Internap Corporation (INAP)

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.

These funds have also shifted positions in (INAP). BlueCrest Capital Management Ltd purchased a new stake in shares of Internap Corporation during the first quarter worth approximately $157,000. Renaissance Technologies LLC now owns 1,563,420 shares of the information technology services provider's stock worth $2,408,000 after buying an additional 493,920 shares in the last quarter. Finally, UBS Oconnor LLC boosted its position in shares of Internap Corporation by 725.7% in the first quarter. As of quarter end California Public Employees Retirement System had disposed of 73,200 shares trimming its position 21.8%. Finally, Symphony Asset Management LLC acquired a new position in Internap Corporation during the second quarter valued at about $159,000. The company has a consensus rating of "Buy" and a consensus target price of $5.31.

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Internap Corporation (NASDAQ INAP) traded down 6.25% during trading on Friday, reaching $4.20. The volume of 1.3 Million shares climbed down over an trading activity of 478.45 Million shares. The company has a market cap of $1.83B and its 12 month revenue was nearly $306.50M. The stock appeared $4.78 above its 52-week highs and is up 12.56% for the last five trades. The firm has a 50 day moving average of $3.94 and a 200 day moving average of $3.20.

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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 analysts' consensus estimates of ($0.07) by $0.01. Internap Corporation had a negative net margin of 45.52% and a negative return on equity of 234.35%. For the current year the company's revenue estimates are $280.17 Million compared to low analyst estimates of $277.14 Million and high estimates of $285 Million according to 7 number of analysts. During the same period past year, the business earned ($0.21) earnings per share. The company reported revenue of $76.29 Million in the same period a year ago.

Internap Corporation (INAP) stock price moved Upswing on volume of 2.5 million shares in Wednesday session. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of United States and worldwide copyright & trademark legislation. Prnewswire.com's article titled: "Today's Research Report Coverage on IT Services Stocks - Wipro, Internap ..." and published on July 31, 2017 is yet another important article.

Amid volatile financial markets and the presidential election, various investment brokerages have made amendments to their price targets and ratings on shares of Internap Network Services Corporation (NASDAQ:INAP).

Internap Network Services Corporation was upgraded to "strong buy" by analysts at Raymond James.

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Based on the latest brokerage notes which have been released to investors, 3 brokers have issued a rating of "strong buy", 2 brokers "buy", 2 brokers "neutral", 0 brokers "sell" and 0 brokers "strong sell". With 487,400 shares average volume, it will take short sellers 17 days to cover their INAP's short positions. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

In other Internap Corporation news, Director Peter J. Rogers, Jr. acquired 15,280 shares of the company's stock in a transaction that occurred on Tuesday, May 30th. The shares were bought on May 30th for a price of $3.30. Following the acquisition, the director now directly owns 67,306 shares in the company, valued at $221,436.74. The disclosure for this purchase can be found here. Insiders have sold 3,482,700 shares of company stock valued at $13,640,242 in the last quarter. According to the past 5 years report, the company on average reported 43.90% year-over-year EPS growth and sales growth was recorded at 40.40%.

Internap Corporation is a technology provider of Internet infrastructure. The Company operates through two segments: Data Center and Network Services, and Cloud and Hosting Services.

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