TaskUs, Inc. $TASK Position Boosted by Think Investments LP

Key Points

• Think Investments LP increased its stake in TaskUs, Inc. by 12.9%, owning over 3.25 million shares, making TaskUs its second largest position within the investment portfolio.
• Recent hedge fund activity included significant increases in stakes by several firms, highlighting a growing interest in TaskUs, which is currently 44.64% owned by institutional investors.
• TaskUs has received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and target prices adjusted between $16.50 and $18.00 by different research firms.

Think Investments LP raised its holdings in TaskUs, Inc. (NASDAQ:TASK - Free Report) by 12.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,253,358 shares of the company's stock after acquiring an additional 371,845 shares during the period. TaskUs makes up 8.6% of Think Investments LP's investment portfolio, making the stock its 2nd largest position. Think Investments LP owned about 3.61% of TaskUs worth $44,343,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Harbor Capital Advisors Inc. bought a new position in shares of TaskUs in the first quarter worth approximately $63,000. BNP Paribas Financial Markets bought a new position in shares of TaskUs in the 4th quarter worth $80,000. Point72 Asset Management L.P. purchased a new stake in shares of TaskUs during the 4th quarter valued at $83,000. Quarry LP bought a new stake in shares of TaskUs during the 1st quarter worth $83,000. Finally, Lazard Asset Management LLC grew its position in TaskUs by 9.6% in the fourth quarter. Lazard Asset Management LLC now owns 9,972 shares of the company's stock worth $167,000 after acquiring an additional 873 shares in the last quarter. Hedge funds and other institutional investors own 44.64% of the company's stock.

TaskUs Trading Down 0.0%

TaskUs stock traded down $0.01 during trading hours on Friday, reaching $17.39. The company had a trading volume of 118,678 shares, compared to its average volume of 381,827. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.84 and a quick ratio of 2.84. The company has a 50-day moving average price of $17.23 and a 200 day moving average price of $15.65. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 25.20 and a beta of 2.16. TaskUs, Inc. has a 12-month low of $10.57 and a 12-month high of $19.60.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TASK. Zacks Research upgraded TaskUs from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th. Morgan Stanley cut TaskUs from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $21.00 to $16.50 in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, 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.