TaskUs, Inc. $TASK Shares Sold by Carmignac Gestion

Key Points

• Carmignac Gestion has reduced its stake in TaskUs, Inc. by 15% to 85,000 shares, representing a value of approximately $1.16 million.
• Institutional investors collectively own 44.64% of TaskUs, with several funds increasing their positions in the first quarter of 2023.
• Recent analyst ratings show a shift in sentiment, with Royal Bank of Canada and Baird both lowering their price targets and ratings for TaskUs shares, indicating a consensus rating of "Hold".

Carmignac Gestion lowered its position in TaskUs, Inc. (NASDAQ:TASK - Free Report) by 15.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,000 shares of the company's stock after selling 15,000 shares during the period. Carmignac Gestion owned approximately 0.09% of TaskUs worth $1,159,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new stake in shares of TaskUs in the 1st quarter worth approximately $63,000. BNP Paribas Financial Markets acquired a new stake in shares of TaskUs in the 4th quarter worth approximately $80,000. Point72 Asset Management L.P. acquired a new stake in shares of TaskUs in the 4th quarter worth approximately $83,000. Russell Investments Group Ltd. acquired a new stake in shares of TaskUs in the 4th quarter worth approximately $115,000. Finally, Lazard Asset Management LLC grew its holdings in shares of TaskUs by 9.6% in the 4th quarter. Lazard Asset Management LLC now owns 9,972 shares of the company's stock worth $167,000 after acquiring an additional 873 shares during the period. Institutional investors and hedge funds own 44.64% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on TASK shares. Robert W. Baird downgraded TaskUs from an "outperform" rating to a "neutral" rating and set a $16.50 price objective for the company. in a research report on Monday, May 12th. William Blair lowered TaskUs from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Royal Bank Of Canada reduced their target price on TaskUs from $20.00 to $16.50 and set a "sector perform" rating on the stock in a research note on Monday, May 12th. Baird R W lowered TaskUs from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. Finally, Zacks Research raised TaskUs from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, TaskUs has a consensus rating of "Moderate Buy" and an average price target of $17.40.

TaskUs Trading Up 0.5%

Shares of TaskUs stock traded up $0.0850 during trading hours on Monday, reaching $17.4650. 101,862 shares of the company's stock were exchanged, compared to its average volume of 366,501. TaskUs, Inc. has a 52-week low of $10.57 and a 52-week high of $19.60. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 25.31 and a beta of 2.16. The company has a fifty day moving average of $16.99 and a 200-day moving average of $15.43. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.42.

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.