Geode Capital Management LLC Decreases Stake in TaskUs, Inc. (NASDAQ:TASK)

Geode Capital Management LLC cut its position in TaskUs, Inc. (NASDAQ:TASK) by 10.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 195,156 shares of the company’s stock after selling 23,692 shares during the period. Geode Capital Management LLC’s holdings in TaskUs were worth $2,522,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jacobs Levy Equity Management Inc. grew its stake in shares of TaskUs by 47.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 263,734 shares of the company’s stock worth $3,407,000 after purchasing an additional 84,988 shares in the last quarter. Royce & Associates LP lifted its holdings in TaskUs by 8.9% during the 3rd quarter. Royce & Associates LP now owns 669,579 shares of the company’s stock worth $8,651,000 after buying an additional 54,770 shares during the last quarter. Seldon Capital LP acquired a new position in shares of TaskUs during the 3rd quarter worth about $5,393,000. LSV Asset Management acquired a new stake in shares of TaskUs during the 2nd quarter worth about $990,000. Finally, Dimensional Fund Advisors LP lifted its stake in TaskUs by 15.2% during the second quarter. Dimensional Fund Advisors LP now owns 392,504 shares of the company’s stock worth $5,224,000 after purchasing an additional 51,935 shares during the last quarter. 44.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at TaskUs

In other TaskUs news, CAO Steven Amaya sold 2,600 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $18.08, for a total value of $47,008.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Stephan Daoust sold 62,159 shares of the business’s stock in a transaction on Friday, December 13th. The stock was 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. Company insiders own 29.26% of the company’s stock.

TaskUs Stock Performance

NASDAQ:TASK opened at $15.01 on Wednesday. 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 firm has a market cap of $1.34 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 4.67 and a beta of 2.23. The firm’s fifty day moving average price is $15.54 and its 200 day moving average price is $14.31. TaskUs, Inc. has a 1-year low of $10.56 and a 1-year high of $19.60.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TASK shares. Bank of America upgraded shares of TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Monday, December 9th. 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. Finally, Robert W. Baird lifted their target price on shares of TaskUs from $16.00 to $20.00 and gave the company 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 given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $17.00.

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.