Short Interest in TaskUs, Inc. (NASDAQ:TASK) Expands By 18.9%

TaskUs, Inc. (NASDAQ:TASK) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 1,890,000 shares, a growth of 18.9% from the February 13th total of 1,590,000 shares. Based on an average daily volume of 348,000 shares, the short-interest ratio is presently 5.4 days. Currently, 10.6% of the shares of the company are sold short.

Insider Transactions at TaskUs

In related news, insider Jarrod Johnson sold 15,460 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $13.25, for a total value of $204,845.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 29.26% of the stock is owned by company insiders.

Institutional Trading of TaskUs

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in shares of TaskUs by 71.5% during the 4th quarter. Blue Trust Inc. now owns 1,677 shares of the company’s stock worth $28,000 after acquiring an additional 699 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of TaskUs by 9.6% during the 4th quarter. Lazard Asset Management LLC now owns 9,972 shares of the company’s stock worth $167,000 after acquiring an additional 873 shares during the period. Jane Street Group LLC lifted its stake in TaskUs by 9.9% in the 3rd quarter. Jane Street Group LLC now owns 21,761 shares of the company’s stock valued at $281,000 after purchasing an additional 1,959 shares during the last quarter. US Bancorp DE lifted its stake in 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 purchasing an additional 2,516 shares during the last quarter. Finally, PDT Partners LLC lifted its stake in TaskUs by 6.8% in the 4th quarter. PDT Partners LLC now owns 45,189 shares of the company’s stock valued at $766,000 after purchasing an additional 2,893 shares during the last quarter. Institutional investors own 44.64% of the company’s stock.

TaskUs Stock Performance

Shares of NASDAQ:TASK opened at $13.65 on Wednesday. The company’s 50 day moving average price is $15.24 and its two-hundred day moving average price is $14.50. TaskUs has a 12-month low of $10.56 and a 12-month high of $19.60. The firm has a market cap of $1.23 billion, a PE ratio of 23.14, a PEG ratio of 3.92 and a beta of 2.24. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.50.

TaskUs (NASDAQ:TASK) last announced its earnings results on Wednesday, February 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12). TaskUs had a return on equity of 17.73% and a net margin of 5.58%. The business had revenue of $274.24 million for the quarter, compared to analyst estimates of $268.65 million. Equities research analysts predict that TaskUs will post 0.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TASK has been the topic of a number of research reports. Bank of America upgraded shares of TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Monday, December 9th. Royal Bank of Canada upped their price target on shares of TaskUs from $18.00 to $20.00 and gave the company a “sector perform” rating in a research note on Thursday, February 27th. Finally, Morgan Stanley upgraded shares of TaskUs from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $18.00 to $21.00 in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $17.25.

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.