JPMorgan Chase & Co. Reduces Stock Position in TaskUs, Inc. $TASK

Key Points

• JPMorgan Chase & Co. slashed its stake in TaskUs by 98.7% in the third quarter, selling 207,209 shares and leaving just 2,789 shares worth about $50,000.
• Analyst sentiment is mixed but tepid: the consensus rating is Hold with an average price target of $14.25, and several firms have cut targets (e.g., Morgan Stanley to $12, RBC to $13) while Weiss downgraded to a sell.
• Insider Jarrod Johnson sold 25,000 shares at $6.78 (a ~40.6% reduction in his position); TaskUs shares trade around $7.21 with a 52-week range of $6.20–$18.39, market cap about $653M and a reported $3.65 dividend paid March 25.

JPMorgan Chase & Co. lessened its position in shares of TaskUs, Inc. (NASDAQ:TASK - Free Report) by 98.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,789 shares of the company's stock after selling 207,209 shares during the quarter. JPMorgan Chase & Co.'s holdings in TaskUs were worth $50,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in TaskUs by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 205,442 shares of the company's stock valued at $3,444,000 after purchasing an additional 647 shares during the last quarter. First Trust Advisors LP grew its stake in TaskUs by 1.3% during the 2nd quarter. First Trust Advisors LP now owns 54,531 shares of the company's stock valued at $914,000 after purchasing an additional 716 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in TaskUs by 21.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 4,994 shares of the company's stock valued at $89,000 after purchasing an additional 896 shares during the last quarter. Lazard Asset Management LLC grew its stake in TaskUs by 7.8% during the 2nd quarter. Lazard Asset Management LLC now owns 18,522 shares of the company's stock valued at $308,000 after purchasing an additional 1,342 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in TaskUs by 4.9% during the 2nd quarter. American Century Companies Inc. now owns 43,404 shares of the company's stock valued at $727,000 after purchasing an additional 2,045 shares during the last quarter. Hedge funds and other institutional investors own 44.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TASK shares. Weiss Ratings downgraded TaskUs from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, April 16th. Morgan Stanley dropped their price target on TaskUs from $16.50 to $12.00 and set an "equal weight" rating on the stock in a research note on Friday, February 27th. Piper Sandler downgraded TaskUs to a "neutral" rating in a research note on Friday, February 27th. Wedbush reiterated an "outperform" rating and set a $14.00 price target on shares of TaskUs in a research note on Wednesday, April 15th. Finally, Royal Bank Of Canada lowered their target price on TaskUs from $17.00 to $13.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $14.25.

Insiders Place Their Bets

In related news, insider Jarrod Johnson sold 25,000 shares of the company's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $6.78, for a total value of $169,500.00. Following the completion of the transaction, the insider owned 36,536 shares of the company's stock, valued at approximately $247,714.08. This represents a 40.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 31.92% of the company's stock.

TaskUs Stock Down 0.3%

Shares of TASK opened at $7.21 on Wednesday. TaskUs, Inc. has a 52 week low of $6.20 and a 52 week high of $18.39. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $652.94 million, a price-to-earnings ratio of 6.50 and a beta of 2.06. The stock's 50-day moving average price is $9.12 and its 200-day moving average price is $11.06.

TaskUs (NASDAQ:TASK - Get Free Report) last issued its earnings results on Wednesday, February 25th. The company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.04. TaskUs had a return on equity of 22.52% and a net margin of 8.64%.The firm had revenue of $312.96 million for the quarter, compared to the consensus estimate of $303.68 million. On average, sell-side analysts predict that TaskUs, Inc. will post 1.16 EPS for the current year.

TaskUs Announces Dividend

The business also recently announced a dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th were paid a $3.65 dividend.

About TaskUs

TaskUs, Inc is a leading provider of outsourced digital customer experience and business process solutions, specializing in high-touch services for technology and digital-native companies. The firm delivers a range of offerings including customer care, content moderation, trust and safety monitoring, back-office processing and AI operations support. By combining technology-driven platforms with human-centric workflows, TaskUs helps clients optimize operational efficiency and maintain brand integrity across digital channels.

The company was founded in 2008 by Jaspar Weir and Bryce Maddock with the goal of reimagining traditional outsourcing through a focus on culture, technology and innovation.

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