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

Graypoint LLC acquired a new stake in TaskUs, Inc. (NASDAQ:TASK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 20,206 shares of the company’s stock, valued at approximately $342,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. US Bancorp DE boosted its position in shares of TaskUs by 101.2% during the third 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 period. CWM LLC boosted its position in TaskUs by 25,053.3% during the 3rd quarter. CWM LLC now owns 7,546 shares of the company’s stock worth $97,000 after acquiring an additional 7,516 shares during the period. Quantbot Technologies LP grew its stake in shares of TaskUs by 186.7% in the third quarter. Quantbot Technologies LP now owns 9,428 shares of the company’s stock worth $122,000 after purchasing an additional 6,140 shares in the last quarter. Paloma Partners Management Co acquired a new position in shares of TaskUs during the third quarter valued at $139,000. Finally, Olympiad Research LP bought a new stake in shares of TaskUs during the third quarter valued at about $143,000. 44.64% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at TaskUs

In other TaskUs news, COO Stephan Daoust sold 62,159 shares of the business’s stock in a transaction on 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 filing with the SEC, which is available through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders have sold 140,338 shares of company stock valued at $2,548,902 over the last three months. Company insiders own 29.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

TaskUs Price Performance

NASDAQ TASK opened at $15.22 on Friday. TaskUs, Inc. has a 1 year low of $10.56 and a 1 year high of $19.60. The business’s fifty day moving average is $15.70 and its two-hundred day moving average is $14.35. The stock has a market capitalization of $1.36 billion, a P/E ratio of 25.80, a P/E/G ratio of 4.67 and a beta of 2.23. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.02 and a current ratio of 3.02.

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.