TaskUs (NASDAQ:TASK) Trading Down 3.4% – Here’s Why

TaskUs, Inc. (NASDAQ:TASK)’s share price was down 3.4% during trading on Tuesday . The stock traded as low as $14.54 and last traded at $14.54. Approximately 18,563 shares changed hands during trading, a decline of 94% from the average daily volume of 286,744 shares. The stock had previously closed at $15.05.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TASK shares. Bank of America upgraded TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 target price for the company in a report on Monday, December 9th. Morgan Stanley raised shares of TaskUs from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $18.00 to $21.00 in a research report on Friday, December 13th. Finally, Robert W. Baird boosted their target price on shares of TaskUs from $16.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. 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.com, TaskUs has an average rating of “Hold” and a consensus price target of $17.00.

TaskUs Trading Up 0.8 %

The business has a fifty day moving average of $15.80 and a 200-day moving average of $14.40. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.02 and a current ratio of 3.02. The company has a market capitalization of $1.50 billion, a P/E ratio of 28.49, a PEG ratio of 3.85 and a beta of 2.23.

Insiders Place Their Bets

In other news, CAO Steven Amaya sold 75,579 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $18.11, for a total value of $1,368,735.69. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Stephan Daoust sold 62,159 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $18.23, for a total value of $1,133,158.57. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 140,338 shares of company stock worth $2,548,902. Insiders own 29.26% of the company’s stock.

Hedge Funds Weigh In On TaskUs

Hedge funds have recently bought and sold shares of the company. American Century Companies Inc. increased its stake in TaskUs by 11.4% in the 2nd quarter. American Century Companies Inc. now owns 27,976 shares of the company’s stock valued at $372,000 after buying an additional 2,863 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of TaskUs by 15.2% in the second quarter. Dimensional Fund Advisors LP now owns 392,504 shares of the company’s stock valued at $5,224,000 after buying an additional 51,935 shares during the period. Renaissance Technologies LLC increased its stake in shares of TaskUs by 12.8% in the second quarter. Renaissance Technologies LLC now owns 440,523 shares of the company’s stock worth $5,863,000 after purchasing an additional 50,000 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of TaskUs by 19.7% during the 2nd quarter. Hsbc Holdings PLC now owns 16,885 shares of the company’s stock valued at $225,000 after purchasing an additional 2,779 shares during the period. Finally, Dalton Investments Inc. raised its position in shares of TaskUs by 2.5% in the second quarter. Dalton Investments Inc. now owns 636,458 shares of the company’s stock worth $8,471,000 after buying an additional 15,300 shares in the last quarter. 44.64% of the stock is owned by hedge funds and other institutional investors.

About TaskUs

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.