Graypoint LLC Invests $342,000 in TaskUs, Inc. (NASDAQ:TASK)

Graypoint LLC purchased a new stake in shares of TaskUs, Inc. (NASDAQ:TASK) during the fourth quarter, Holdings Channel reports. The fund purchased 20,206 shares of the company’s stock, valued at approximately $342,000.

Several other institutional investors and hedge funds have also modified their holdings of TASK. Jane Street Group LLC raised its holdings in TaskUs by 9.9% during the third quarter. Jane Street Group LLC now owns 21,761 shares of the company’s stock valued at $281,000 after buying an additional 1,959 shares in the last quarter. US Bancorp DE raised its stake in shares of TaskUs by 101.2% in the 3rd quarter. US Bancorp DE now owns 5,001 shares of the company’s stock valued at $65,000 after acquiring an additional 2,516 shares in the last quarter. Hsbc Holdings PLC boosted its position in TaskUs by 19.7% during the second quarter. Hsbc Holdings PLC now owns 16,885 shares of the company’s stock worth $225,000 after purchasing an additional 2,779 shares during the period. American Century Companies Inc. boosted its position in TaskUs by 11.4% during the second quarter. American Century Companies Inc. now owns 27,976 shares of the company’s stock worth $372,000 after purchasing an additional 2,863 shares during the period. Finally, Centiva Capital LP lifted its stake in shares of TaskUs by 27.6% in the third quarter. Centiva Capital LP now owns 19,512 shares of the company’s stock worth $252,000 after buying an additional 4,218 shares during the last quarter. Institutional investors and hedge funds own 44.64% of the company’s stock.

Insider Activity

In other news, COO Stephan Daoust sold 62,159 shares of TaskUs 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Steven Amaya sold 75,579 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $18.11, for a total transaction of $1,368,735.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,338 shares of company stock worth $2,548,902. Company insiders own 29.26% of the company’s stock.

Analyst Upgrades and Downgrades

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

TaskUs Trading Down 2.2 %

Shares of TASK opened at $15.22 on Friday. The stock’s 50-day moving average price is $15.70 and its 200 day moving average price is $14.35. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 25.80, a P/E/G ratio of 4.67 and a beta of 2.23. TaskUs, Inc. has a 12-month low of $10.56 and a 12-month high of $19.60.

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.