TaskUs (NASDAQ:TASK) Stock Price Down 3.4% – Should You Sell?

TaskUs, Inc. (NASDAQ:TASK)’s share price was down 3.4% during trading on Tuesday . The stock traded as low as $14.54 and last traded at $14.54. Approximately 18,563 shares were traded during trading, a decline of 94% from the average daily volume of 286,744 shares. The stock had previously closed at $15.05.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Bank of America upgraded TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 target price for the company in a report on Monday, December 9th. Morgan Stanley upgraded shares of TaskUs from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $18.00 to $21.00 in a research note on Friday, December 13th. Finally, Robert W. Baird raised their price target on shares of TaskUs from $16.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $17.00.

TaskUs Price Performance

The stock has a market capitalization of $1.32 billion, a P/E ratio of 24.98, a price-to-earnings-growth ratio of 4.67 and a beta of 2.23. The business’s 50 day simple moving average is $15.73 and its two-hundred day simple moving average is $14.37. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.50.

Insider Buying and Selling at TaskUs

In other news, CAO Steven Amaya sold 2,600 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $18.08, for a total value of $47,008.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Stephan Daoust sold 62,159 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $18.23, for a total transaction of $1,133,158.57. The disclosure for this sale can be found here. In the last quarter, insiders sold 140,338 shares of company stock worth $2,548,902. Insiders own 29.26% of the company’s stock.

Institutional Investors Weigh In On TaskUs

Several large investors have recently made changes to their positions in the business. US Bancorp DE boosted its holdings in shares of TaskUs by 101.2% in the 3rd quarter. US Bancorp DE now owns 5,001 shares of the company’s stock worth $65,000 after buying an additional 2,516 shares during the last quarter. CWM LLC boosted its stake in TaskUs by 25,053.3% in the third quarter. CWM LLC now owns 7,546 shares of the company’s stock valued at $97,000 after acquiring an additional 7,516 shares during the last quarter. Quantbot Technologies LP grew its position in shares of TaskUs by 186.7% during the 3rd quarter. Quantbot Technologies LP now owns 9,428 shares of the company’s stock valued at $122,000 after acquiring an additional 6,140 shares during the period. Paloma Partners Management Co purchased a new stake in shares of TaskUs during the 3rd quarter worth approximately $139,000. Finally, Olympiad Research LP purchased a new stake in shares of TaskUs during the 3rd quarter worth approximately $143,000. 44.64% of the stock is owned by hedge funds and other institutional investors.

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.