State Street Corp Reduces Stake in TaskUs, Inc. (NASDAQ:TASK)

State Street Corp decreased its holdings in shares of TaskUs, Inc. (NASDAQ:TASK) by 5.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,370 shares of the company’s stock after selling 6,043 shares during the quarter. State Street Corp owned approximately 0.12% of TaskUs worth $1,361,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TASK. Royce & Associates LP raised its holdings in TaskUs by 8.9% during the third quarter. Royce & Associates LP now owns 669,579 shares of the company’s stock worth $8,651,000 after purchasing an additional 54,770 shares in the last quarter. Dalton Investments Inc. grew its position in shares of TaskUs by 2.5% in the 2nd quarter. Dalton Investments Inc. now owns 636,458 shares of the company’s stock valued at $8,471,000 after buying an additional 15,300 shares during the last quarter. Renaissance Technologies LLC raised its stake in TaskUs by 12.8% during the 2nd quarter. Renaissance Technologies LLC now owns 440,523 shares of the company’s stock worth $5,863,000 after acquiring an additional 50,000 shares in the last quarter. Seldon Capital LP purchased a new stake in TaskUs in the third quarter valued at $5,393,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in TaskUs by 12.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 396,274 shares of the company’s stock valued at $5,120,000 after acquiring an additional 42,750 shares in the last quarter. 44.64% of the stock is owned by institutional investors and hedge funds.

TaskUs Price Performance

Shares of NASDAQ TASK opened at $16.89 on Friday. The stock has a fifty day moving average price of $15.18 and a 200 day moving average price of $14.20. TaskUs, Inc. has a 1-year low of $10.56 and a 1-year high of $19.60. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.02 and a quick ratio of 3.02. The company has a market cap of $1.51 billion, a PE ratio of 28.63, a P/E/G ratio of 4.67 and a beta of 2.31.

Insiders Place Their Bets

In related news, COO Stephan Daoust sold 62,159 shares of TaskUs stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $18.23, for a total value of $1,133,158.57. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Steven Amaya sold 75,579 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $18.11, for a total value of $1,368,735.69. 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. 29.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TASK shares. Robert W. Baird lifted their target price on TaskUs from $16.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Morgan Stanley upgraded TaskUs from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $18.00 to $21.00 in a research note on Friday, December 13th. JPMorgan Chase & Co. lowered their target price on shares of TaskUs from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Finally, Bank of America upgraded shares of TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.00.

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.