Think Investments LP Boosts Stock Position in TaskUs, Inc. (NASDAQ:TASK)

Think Investments LP raised its stake in TaskUs, Inc. (NASDAQ:TASK - Free Report) by 14.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,881,513 shares of the company's stock after buying an additional 364,608 shares during the quarter. TaskUs accounts for about 10.7% of Think Investments LP's portfolio, making the stock its 2nd largest position. Think Investments LP owned approximately 3.23% of TaskUs worth $48,813,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TASK. Barclays PLC increased its stake in shares of TaskUs by 24.9% in the 3rd quarter. Barclays PLC now owns 24,774 shares of the company's stock valued at $321,000 after acquiring an additional 4,945 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in TaskUs during the third quarter valued at approximately $1,006,000. SG Americas Securities LLC increased its stake in TaskUs by 217.0% in the fourth quarter. SG Americas Securities LLC now owns 350,719 shares of the company's stock valued at $5,941,000 after purchasing an additional 240,093 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in TaskUs in the fourth quarter valued at approximately $613,000. Finally, Blue Trust Inc. raised its holdings in TaskUs by 71.5% in 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 during the period. Institutional investors own 44.64% of the company's stock.

TaskUs Stock Up 0.3%

Shares of TaskUs stock traded up $0.05 during trading on Tuesday, reaching $16.72. The stock had a trading volume of 379,304 shares, compared to its average volume of 312,991. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 28.34, a P/E/G ratio of 3.92 and a beta of 2.16. The stock has a fifty day moving average price of $13.87 and a two-hundred day moving average price of $14.96. TaskUs, Inc. has a 52 week low of $10.57 and a 52 week high of $19.60.

TaskUs (NASDAQ:TASK - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.12). The firm had revenue of $274.24 million during the quarter, compared to the consensus estimate of $268.65 million. TaskUs had a net margin of 5.58% and a return on equity of 17.73%. Sell-side analysts predict that TaskUs, Inc. will post 0.9 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity at TaskUs

In other TaskUs news, insider Jarrod Johnson sold 21,437 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.60, for a total transaction of $291,543.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 30.63% of the stock is owned by insiders.

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.