Inspire Investing LLC Buys Shares of 25,295 TaskUs, Inc. $TASK

Key Points

• Inspire Investing LLC acquired 25,295 shares of TaskUs, Inc. for approximately $345,000 in the first quarter, indicating increasing institutional interest in the company's stock.
• Analysts have mixed views on TaskUs, with Zacks Research upgrading the stock to a "strong-buy" rating, while Morgan Stanley downgraded it and reduced its price target from $21 to $16.50.
• TaskUs currently has a market capitalization of $1.56 billion and a consensus rating of "Hold" with an average price target of $16.88.

Inspire Investing LLC bought a new stake in shares of TaskUs, Inc. (NASDAQ:TASK - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 25,295 shares of the company's stock, valued at approximately $345,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Two Sigma Investments LP grew its position in shares of TaskUs by 25.5% during the 4th quarter. Two Sigma Investments LP now owns 281,864 shares of the company's stock valued at $4,775,000 after buying an additional 57,248 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of TaskUs by 95.8% during the fourth quarter. Bank of America Corp DE now owns 68,783 shares of the company's stock valued at $1,165,000 after purchasing an additional 33,661 shares during the last quarter. AlphaQuest LLC grew its holdings in shares of TaskUs by 1,153.0% during the first quarter. AlphaQuest LLC now owns 23,845 shares of the company's stock valued at $325,000 after purchasing an additional 21,942 shares during the last quarter. Tocqueville Asset Management L.P. bought a new position in shares of TaskUs during the first quarter valued at approximately $2,576,000. Finally, Ritholtz Wealth Management bought a new position in TaskUs during the 1st quarter worth $236,000. Institutional investors own 44.64% of the company's stock.

TaskUs Stock Up 0.2%

TASK opened at $17.40 on Tuesday. The business has a 50 day moving average price of $17.25 and a 200 day moving average price of $15.69. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.84 and a current ratio of 2.84. TaskUs, Inc. has a twelve month low of $10.57 and a twelve month high of $19.60. The firm has a market cap of $1.56 billion, a P/E ratio of 25.22 and a beta of 2.16.

Analysts Set New Price Targets

A number of research analysts recently commented on TASK shares. Zacks Research upgraded TaskUs from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 20th. Morgan Stanley lowered shares of TaskUs from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $21.00 to $16.50 in a research report on Tuesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, TaskUs has a consensus rating of "Hold" and an average price target of $16.88.

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.

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