TaskUs (NASDAQ:TASK) Trading Down 3.8% – Here’s Why

TaskUs, Inc. (NASDAQ:TASK)’s share price was down 3.8% during 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.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TASK. Bank of America raised TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price target for the company in a report on Monday, December 9th. Robert W. Baird lifted their target price on TaskUs from $16.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. reduced their target price on shares of TaskUs from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Finally, Morgan Stanley raised shares of TaskUs from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $18.00 to $21.00 in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.00.

TaskUs Trading Down 2.1 %

The stock has a market capitalization of $1.54 billion, a P/E ratio of 29.25, a P/E/G ratio of 4.67 and a beta of 2.31. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.50. The business has a 50-day moving average price of $14.21 and a two-hundred day moving average price of $14.01.

Insider Activity at TaskUs

In related news, CAO Steven Amaya sold 2,600 shares of TaskUs stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $18.08, for a total value of $47,008.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Stephan Daoust sold 62,159 shares of the business’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 disclosure for this sale can be found here. Insiders sold a total of 140,338 shares of company stock valued at $2,548,902 over the last quarter. 29.26% of the stock is owned by corporate insiders.

Institutional Trading of TaskUs

Institutional investors and hedge funds have recently modified their holdings of the business. Seldon Capital LP bought a new position in TaskUs in the 3rd quarter valued at approximately $5,393,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of TaskUs by 47.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 263,734 shares of the company’s stock worth $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 2nd quarter valued at $990,000. Royce & Associates LP boosted its holdings in shares of TaskUs by 8.9% during the 3rd quarter. Royce & Associates LP now owns 669,579 shares of the company’s stock valued at $8,651,000 after acquiring an additional 54,770 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in TaskUs by 94.2% during the 3rd 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 during the last quarter. 44.64% of the stock is currently owned by institutional investors.

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.