TaskUs, Inc. (NASDAQ:TASK) Sees Large Decline in Short Interest

TaskUs, Inc. (NASDAQ:TASK - Get Free Report) was the target of a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 874,700 shares, a decrease of 15.1% from the April 30th total of 1,030,000 shares. Currently, 5.3% of the shares of the stock are short sold. Based on an average daily volume of 529,600 shares, the days-to-cover ratio is presently 1.7 days.

Insider Buying and Selling

In related news, insider Jarrod Johnson sold 21,437 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.60, for a total value of $291,543.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 30.63% of the company's stock.

Hedge Funds Weigh In On TaskUs

Several institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. grew its stake in TaskUs by 71.5% during the 4th quarter. Blue Trust Inc. now owns 1,677 shares of the company's stock valued at $28,000 after acquiring an additional 699 shares in the last quarter. Lazard Asset Management LLC grew its stake in TaskUs by 9.6% during the 4th quarter. Lazard Asset Management LLC now owns 9,972 shares of the company's stock valued at $167,000 after acquiring an additional 873 shares in the last quarter. PDT Partners LLC grew its stake in TaskUs by 6.8% during the 4th quarter. PDT Partners LLC now owns 45,189 shares of the company's stock valued at $766,000 after acquiring an additional 2,893 shares in the last quarter. American Century Companies Inc. grew its stake in TaskUs by 11.6% during the 4th quarter. American Century Companies Inc. now owns 36,888 shares of the company's stock valued at $625,000 after acquiring an additional 3,841 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of TaskUs in the 1st quarter valued at approximately $63,000. Hedge funds and other institutional investors own 44.64% of the company's stock.

Analyst Ratings Changes

TASK has been the subject of several research analyst reports. Baird R W downgraded shares of TaskUs from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Robert W. Baird cut shares of TaskUs from an "outperform" rating to a "neutral" rating and set a $16.50 price target on the stock. in a research report on Monday, May 12th. 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. Finally, William Blair cut shares of TaskUs from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, TaskUs presently has an average rating of "Hold" and a consensus price target of $16.86.

TaskUs Trading Up 0.2%

NASDAQ TASK traded up $0.03 on Thursday, hitting $16.71. 190,728 shares of the company were exchanged, compared to its average volume of 322,544. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.02 and a quick ratio of 3.02. TaskUs has a twelve month low of $10.57 and a twelve month high of $19.60. The company's 50 day moving average price is $14.56 and its 200-day moving average price is $15.09. The firm has a market capitalization of $1.49 billion, a P/E ratio of 28.32, a price-to-earnings-growth ratio of 3.92 and a beta of 2.19.

About TaskUs

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.