TaskUs (NASDAQ:TASK) Shares Down 3.4% – Should You Sell?

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TASK. Bank of America raised TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Monday, December 9th. Robert W. Baird lifted their target price 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 raised shares of TaskUs from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $18.00 to $21.00 in a research report on Friday, December 13th. One equities 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $17.00.

TaskUs Price Performance

The business’s 50-day moving average price is $15.73 and its 200 day moving average price is $14.37. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $1.32 billion, a P/E ratio of 24.98, a price-to-earnings-growth ratio of 4.67 and a beta of 2.23.

Insider Transactions at TaskUs

In related news, CAO Steven Amaya sold 2,600 shares of the company’s 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 transaction 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 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,338 shares of company stock valued at $2,548,902. 29.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TASK. Jacobs Levy Equity Management Inc. raised its position in TaskUs by 47.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 263,734 shares of the company’s stock valued at $3,407,000 after purchasing an additional 84,988 shares in the last quarter. Royce & Associates LP increased its position in shares of TaskUs by 8.9% in the third 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 during the period. Seldon Capital LP purchased a new stake in TaskUs in the 3rd quarter worth approximately $5,393,000. Dimensional Fund Advisors LP increased its stake in shares of TaskUs by 15.2% during 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. Finally, Barclays PLC raised its holdings in shares of TaskUs by 24.9% during the third quarter. Barclays PLC now owns 24,774 shares of the company’s stock valued at $321,000 after acquiring an additional 4,945 shares in the last quarter. 44.64% of the stock is currently owned by hedge funds and other 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.