TaskUs (NASDAQ:TASK) Trading Down 6.9% – Time to Sell?

TaskUs, Inc. (NASDAQ:TASK)’s stock price fell 6.9% during trading on Tuesday . The stock traded as low as $14.76 and last traded at $14.80. 258,881 shares changed hands during trading, a decline of 8% from the average session volume of 281,354 shares. The stock had previously closed at $15.90.

Wall Street Analysts Forecast Growth

A number of equities 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 on the stock in a research note on Monday, December 9th. Robert W. Baird boosted their price target 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 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 research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, TaskUs currently has a consensus rating of “Hold” and a consensus price target of $17.00.

TaskUs Trading Down 2.6 %

The company has a market cap of $1.30 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 4.03 and a beta of 2.21. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.02 and a quick ratio of 3.02. The company has a 50-day moving average of $16.31 and a 200 day moving average of $14.53.

Insiders Place Their Bets

In other TaskUs 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 transaction of $47,008.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Stephan Daoust sold 62,159 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were 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. Insiders have sold a total of 140,338 shares of company stock worth $2,548,902 in the last three months. Corporate insiders own 29.26% of the company’s stock.

Hedge Funds Weigh In On TaskUs

Several institutional investors and hedge funds have recently modified their holdings of TASK. Blue Trust Inc. lifted its stake in shares of TaskUs by 71.5% in the fourth quarter. Blue Trust Inc. now owns 1,677 shares of the company’s stock worth $28,000 after buying an additional 699 shares in the last quarter. US Bancorp DE boosted its holdings in TaskUs by 101.2% in the 3rd quarter. US Bancorp DE now owns 5,001 shares of the company’s stock valued at $65,000 after purchasing an additional 2,516 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of TaskUs during the 4th quarter valued at approximately $80,000. KLP Kapitalforvaltning AS acquired a new position in TaskUs in the fourth quarter valued at approximately $81,000. Finally, Point72 Asset Management L.P. acquired a new position in TaskUs in the fourth quarter valued at approximately $83,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.

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.