Trexquant Investment LP Has $1.93 Million Stock Position in TaskUs, Inc. $TASK

Key Points

• Trexquant Investment LP significantly increased its ownership in TaskUs, acquiring an additional 123,809 shares, resulting in a total holding of 141,562 shares, which is worth approximately $1.93 million.
• TaskUs shares traded at $17.99, showing a 1.2% increase, while the stock has seen a 52-week low of $10.57 and a high of $19.60.
• Recent analyst reports indicate mixed ratings on TaskUs, with one upgrade to "strong-buy" but also multiple downgrades, leading to a current average price target of $17.40.

Trexquant Investment LP lifted its position in TaskUs, Inc. (NASDAQ:TASK - Free Report) by 697.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,562 shares of the company's stock after buying an additional 123,809 shares during the period. Trexquant Investment LP owned about 0.16% of TaskUs worth $1,929,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Two Sigma Investments LP grew its stake in TaskUs by 25.5% in the fourth quarter. Two Sigma Investments LP now owns 281,864 shares of the company's stock valued at $4,775,000 after acquiring an additional 57,248 shares during the period. Dimensional Fund Advisors LP raised its position in shares of TaskUs by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 471,011 shares of the company's stock worth $7,979,000 after purchasing an additional 23,713 shares during the period. Bank of America Corp DE lifted its holdings in shares of TaskUs by 95.8% during the 4th quarter. Bank of America Corp DE now owns 68,783 shares of the company's stock valued at $1,165,000 after purchasing an additional 33,661 shares in the last quarter. Tocqueville Asset Management L.P. acquired a new position in shares of TaskUs in the 1st quarter valued at approximately $2,576,000. Finally, AlphaQuest LLC increased its stake in TaskUs by 1,153.0% during the 1st quarter. AlphaQuest LLC now owns 23,845 shares of the company's stock worth $325,000 after purchasing an additional 21,942 shares in the last quarter. Institutional investors and hedge funds own 44.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Baird R W lowered shares of TaskUs from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. Zacks Research upgraded shares of TaskUs from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 20th. Robert W. Baird lowered shares of TaskUs from an "outperform" rating to a "neutral" rating and set a $16.50 target price for the company. in a research note on Monday, May 12th. Finally, Royal Bank Of Canada dropped their price target on TaskUs from $20.00 to $16.50 and set a "sector perform" rating on the stock in a research note on Monday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, TaskUs presently has a consensus rating of "Moderate Buy" and an average target price of $18.00.

TaskUs Stock Performance

TaskUs stock traded up $0.03 during trading hours on Monday, hitting $18.21. The company had a trading volume of 305,394 shares, compared to its average volume of 376,434. The firm has a 50-day moving average of $17.17 and a 200 day moving average of $15.58. 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 firm has a market cap of $1.64 billion, a PE ratio of 26.39 and a beta of 2.16. TaskUs, Inc. has a one year low of $10.57 and a one year high of $19.60.

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.