Woodline Partners LP Takes $277,000 Position in TaskUs, Inc. (NASDAQ:TASK)

Woodline Partners LP purchased a new position in TaskUs, Inc. (NASDAQ:TASK - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 16,372 shares of the company's stock, valued at approximately $277,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Two Sigma Advisers LP grew its position in shares of TaskUs by 26.8% during the fourth quarter. Two Sigma Advisers LP now owns 264,800 shares of the company's stock worth $4,486,000 after acquiring an additional 55,900 shares during the last quarter. Two Sigma Investments LP grew its position in TaskUs by 25.5% in the 4th quarter. Two Sigma Investments LP now owns 281,864 shares of the company's stock worth $4,775,000 after purchasing an additional 57,248 shares during the last quarter. Think Investments LP increased its stake in shares of 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 purchasing an additional 364,608 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of TaskUs during the fourth quarter valued at approximately $83,000. Finally, Lazard Asset Management LLC raised its holdings in shares of TaskUs by 9.6% during the fourth quarter. Lazard Asset Management LLC now owns 9,972 shares of the company's stock valued at $167,000 after buying an additional 873 shares during the last quarter. 44.64% of the stock is owned by institutional investors and hedge funds.

TaskUs Price Performance

Shares of NASDAQ:TASK traded down $0.09 during trading hours on Friday, hitting $16.65. 298,224 shares of the company's stock traded hands, compared to its average volume of 321,758. The company's fifty day simple moving average is $14.32 and its two-hundred day simple moving average is $15.03. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 28.22, a price-to-earnings-growth ratio of 3.92 and a beta of 2.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.02 and a current ratio of 3.02. 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 issued its earnings results on Wednesday, February 26th. The company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.12). The business had revenue of $274.24 million for the quarter, compared to the consensus estimate of $268.65 million. TaskUs had a return on equity of 17.73% and a net margin of 5.58%. As a group, equities analysts anticipate that TaskUs, Inc. will post 0.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on TASK shares. Robert W. Baird cut TaskUs from an "outperform" rating to a "neutral" rating and set a $16.50 target price on the stock. in a research report on Monday, May 12th. Baird R W cut shares of TaskUs from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. William Blair lowered shares of TaskUs from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Finally, Royal Bank of Canada dropped their price target on shares of TaskUs from $20.00 to $16.50 and set a "sector perform" rating on the stock in a research 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's stock. Based on data from MarketBeat.com, TaskUs currently has an average rating of "Hold" and an average price target of $16.86.

Insider Buying and Selling

In other news, insider Jarrod Johnson sold 15,460 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $13.25, for a total transaction of $204,845.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 30.63% of the company's stock.

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.