TaskUs (NASDAQ:TASK) Trading Down 3.4% – Time to Sell?

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Robert W. Baird raised their target price on TaskUs from $16.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Bank of America raised TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Monday, December 9th. Finally, Morgan Stanley upgraded TaskUs from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $18.00 to $21.00 in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $17.00.

TaskUs Trading Up 0.8 %

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 firm has a market capitalization of $1.50 billion, a P/E ratio of 28.49, a price-to-earnings-growth ratio of 3.85 and a beta of 2.23. The stock has a 50-day simple moving average of $15.80 and a two-hundred day simple moving average of $14.40.

Insider Activity

In other news, COO Stephan Daoust sold 62,159 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $18.23, for a total transaction of $1,133,158.57. The transaction was disclosed in a filing with the SEC, which is accessible through 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. Over the last ninety days, insiders have sold 140,338 shares of company stock worth $2,548,902. Corporate insiders own 29.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. 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 acquiring an additional 84,988 shares in the last quarter. Royce & Associates LP raised its position in shares of TaskUs by 8.9% during the 3rd quarter. Royce & Associates LP now owns 669,579 shares of the company’s stock worth $8,651,000 after purchasing an additional 54,770 shares during the last quarter. Seldon Capital LP purchased a new position in TaskUs in the 3rd quarter valued at $5,393,000. Dimensional Fund Advisors LP boosted its holdings in shares of TaskUs by 15.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 392,504 shares of the company’s stock worth $5,224,000 after purchasing an additional 51,935 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of TaskUs by 24.9% during the 3rd quarter. Barclays PLC now owns 24,774 shares of the company’s stock worth $321,000 after buying an additional 4,945 shares during the last quarter. 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.