TaskUs, Inc. (NASDAQ:TASK) Shares Sold by Millennium Management LLC

Millennium Management LLC lowered its position in TaskUs, Inc. (NASDAQ:TASK - Free Report) by 55.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,676 shares of the company's stock after selling 154,903 shares during the quarter. Millennium Management LLC owned 0.14% of TaskUs worth $2,146,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new position in shares of TaskUs during the fourth quarter worth about $613,000. Blue Trust Inc. lifted its stake in shares of TaskUs by 71.5% during the fourth quarter. Blue Trust Inc. now owns 1,677 shares of the company's stock worth $28,000 after purchasing an additional 699 shares in the last quarter. Vontobel Holding Ltd. acquired a new position in shares of TaskUs during the fourth quarter worth about $338,000. Nkcfo LLC acquired a new position in shares of TaskUs during the fourth quarter worth about $339,000. Finally, Raymond James Financial Inc. acquired a new position in shares of TaskUs during the fourth quarter worth about $408,000. Institutional investors and hedge funds own 44.64% of the company's stock.

Wall Street Analysts Forecast Growth

TASK has been the topic of a number of recent research reports. Robert W. Baird cut TaskUs from an "outperform" rating to a "neutral" rating and set a $16.50 price objective on the stock. in a research note on Monday, May 12th. William Blair cut TaskUs from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Royal Bank of Canada lowered their price objective on TaskUs from $20.00 to $16.50 and set a "sector perform" rating for the company in a report on Monday, May 12th. Finally, Baird R W lowered TaskUs from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $16.86.

Insider Activity

In other news, insider Jarrod Johnson sold 21,437 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $13.60, for a total transaction of $291,543.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 30.63% of the company's stock.

TaskUs Stock Performance

Shares of NASDAQ:TASK traded up $0.03 during trading on Thursday, hitting $16.71. 190,728 shares of the company traded hands, compared to its average volume of 323,230. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 3.92 and a beta of 2.19. The business's fifty day moving average is $14.63 and its 200-day moving average is $15.11. TaskUs, Inc. has a one year low of $10.57 and a one year high of $19.60. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.50.

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.