AlphaQuest LLC Buys 21,942 Shares of TaskUs, Inc. $TASK

Key Points

• AlphaQuest LLC significantly increased its holdings in TaskUs, Inc., acquiring 21,942 additional shares, representing a total increase of 1,153.0% in the first quarter, with holdings valued at $325,000.
• Institutional investors own 44.64% of TaskUs stock, indicating strong interest from hedge funds and financial institutions.
• Wall Street analysts have mixed ratings for TaskUs, with one Strong Buy, two Buy, and five Hold ratings, along with an average target price of $17.40.

AlphaQuest LLC raised its position in TaskUs, Inc. (NASDAQ:TASK - Free Report) by 1,153.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,845 shares of the company's stock after buying an additional 21,942 shares during the period. AlphaQuest LLC's holdings in TaskUs were worth $325,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Think Investments LP boosted its position in TaskUs by 14.5% in the fourth quarter. Think Investments LP now owns 2,881,513 shares of the company's stock valued at $48,813,000 after buying an additional 364,608 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of TaskUs by 7.9% in the fourth quarter. Ameriprise Financial Inc. now owns 957,653 shares of the company's stock worth $16,223,000 after acquiring an additional 69,704 shares during the last quarter. Royce & Associates LP raised its position in TaskUs by 6.4% in the 1st quarter. Royce & Associates LP now owns 790,289 shares of the company's stock worth $10,772,000 after purchasing an additional 47,610 shares during the last quarter. Dalton Investments Inc. lifted its holdings in TaskUs by 10.3% during the 1st quarter. Dalton Investments Inc. now owns 750,146 shares of the company's stock worth $10,224,000 after buying an additional 69,900 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in TaskUs by 85.9% in the 1st quarter. SG Americas Securities LLC now owns 651,838 shares of the company's stock valued at $8,885,000 after buying an additional 301,119 shares during the last quarter. 44.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TASK. Baird R W lowered TaskUs from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. William Blair cut TaskUs from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Royal Bank Of Canada reduced their target price on shares of TaskUs from $20.00 to $16.50 and set a "sector perform" rating on the stock in a research note on Monday, May 12th. Zacks Research raised shares of TaskUs from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 20th. Finally, Robert W. Baird cut shares of 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. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, TaskUs presently has an average rating of "Moderate Buy" and an average price target of $17.40.

TaskUs Trading Up 0.7%

Shares of TaskUs stock traded up $0.12 on Friday, hitting $17.52. 247,357 shares of the company's stock traded hands, compared to its average volume of 235,462. The firm's 50-day moving average price is $17.06 and its two-hundred day moving average price is $15.49. The stock has a market capitalization of $1.57 billion, a PE ratio of 15.50 and a beta of 2.16. TaskUs, Inc. has a one year low of $10.57 and a one year high of $19.60. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.84 and a quick ratio of 2.84.

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.