TaskUs, Inc. (NASDAQ:TASK – Get Free Report)’s share price dropped 3.8% during mid-day trading on Monday . The stock traded as low as $17.52 and last traded at $17.76. Approximately 84,428 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 222,891 shares. The stock had previously closed at $18.46.
Analysts Set New Price Targets
TASK has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their price objective on shares of TaskUs from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Bank of America raised shares of TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Monday, December 9th. Robert W. Baird boosted their price objective on shares of TaskUs from $16.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Morgan Stanley upgraded TaskUs from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $18.00 to $21.00 in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, TaskUs has a consensus rating of “Hold” and an average target price of $17.00.
Get Our Latest Research Report on TASK
TaskUs Stock Down 2.1 %
Insider Activity at TaskUs
In other news, COO Stephan Daoust sold 62,159 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $18.23, for a total transaction of $1,133,158.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Steven Amaya sold 75,579 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $18.11, for a total transaction of $1,368,735.69. The disclosure for this sale can be found here. Insiders have sold a total of 140,338 shares of company stock worth $2,548,902 over the last quarter. Company insiders own 29.26% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in TASK. Seldon Capital LP bought a new stake in shares of TaskUs during the third quarter valued at approximately $5,393,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of TaskUs by 47.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 263,734 shares of the company’s stock valued at $3,407,000 after buying an additional 84,988 shares in the last quarter. LSV Asset Management bought a new position in shares of TaskUs in the second quarter valued at $990,000. Royce & Associates LP grew its holdings in shares of TaskUs by 8.9% during the third quarter. Royce & Associates LP now owns 669,579 shares of the company’s stock valued at $8,651,000 after buying an additional 54,770 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of TaskUs by 94.2% during the third quarter. SG Americas Securities LLC now owns 110,626 shares of the company’s stock worth $1,429,000 after acquiring an additional 53,672 shares in the last quarter. Institutional investors own 44.64% of the company’s stock.
TaskUs Company Profile
TaskUs, Inc provides digital outsourcing services for companies in Philippines, the United States, India, and internationally. It offers digital customer experience that consists of omni-channel customer care services primarily delivered through non-voice digital channels; and other solutions, including experience and customer care services for new product or market launches, and customer acquisition solutions.
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