26,699 Shares in TaskUs, Inc. $TASK Bought by Clearline Capital LP

Key Points

• Clearline Capital LP has acquired a new stake in TaskUs, Inc. by purchasing 26,699 shares valued at approximately $364,000.
• Multiple institutional investors, including Think Investments LP and SG Americas Securities LLC, have increased their positions in TaskUs, indicating growing institutional interest in the company.
• Analysts have mixed opinions on TaskUs, with Zacks Research upgrading the stock to a "strong-buy" while Baird R W downgraded it to a "hold," reflecting varying perspectives on its future performance.

Clearline Capital LP purchased a new stake in shares of TaskUs, Inc. (NASDAQ:TASK - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 26,699 shares of the company's stock, valued at approximately $364,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new position in TaskUs during the 1st quarter valued at approximately $63,000. BNP Paribas Financial Markets bought a new position in shares of TaskUs in the 4th quarter worth approximately $80,000. Point72 Asset Management L.P. bought a new position in shares of TaskUs in the 4th quarter worth approximately $83,000. Quarry LP bought a new position in shares of TaskUs in the 1st quarter worth approximately $83,000. Finally, Lazard Asset Management LLC raised its position 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 in the last quarter. Institutional investors own 44.64% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TASK. Morgan Stanley lowered TaskUs from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $21.00 to $16.50 in a research report on Tuesday. Zacks Research raised TaskUs from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $16.88.

TaskUs Stock Down 0.2%

TASK traded down $0.03 during trading on Friday, hitting $17.36. 340,418 shares of the company's stock traded hands, compared to its average volume of 436,495. The company's 50 day simple moving average is $17.24 and its two-hundred day simple moving average is $15.66. 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, Inc. has a 12-month low of $10.57 and a 12-month high of $19.60. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 25.16 and a beta of 2.16.

TaskUs 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.