TaskUs Target of Unusually Large Options Trading (NASDAQ:TASK)

TaskUs, Inc. (NASDAQ:TASK) was the recipient of some unusual options trading activity on Thursday. Investors acquired 3,193 put options on the company. This represents an increase of approximately 1,123% compared to the average daily volume of 261 put options.

TaskUs Price Performance

NASDAQ TASK traded down $0.70 during mid-day trading on Thursday, hitting $14.95. The stock had a trading volume of 714,002 shares, compared to its average volume of 344,801. The company has a 50 day simple moving average of $16.13 and a 200 day simple moving average of $14.52. 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 company has a market cap of $1.33 billion, a price-to-earnings ratio of 25.51, a P/E/G ratio of 3.92 and a beta of 2.21. TaskUs has a 52-week low of $10.56 and a 52-week high of $19.60.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TASK shares. Morgan Stanley upgraded shares of 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 note on Friday, December 13th. Robert W. Baird increased their price objective on shares of TaskUs from $16.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, 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 research report on Monday, December 9th. 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $17.00.

Insider Buying and Selling

In other TaskUs news, CAO Steven Amaya sold 2,600 shares of the business’s stock in a transaction on Monday, December 16th. The shares were 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 accessible through the SEC website. Also, COO Stephan Daoust sold 62,159 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 140,338 shares of company stock valued at $2,548,902 in the last ninety days. Company insiders own 29.26% of the company’s stock.

Institutional Trading of TaskUs

Several large investors have recently modified their holdings of the business. Think Investments LP boosted its stake in shares of TaskUs by 14.5% during the fourth quarter. Think Investments LP now owns 2,881,513 shares of the company’s stock valued at $48,813,000 after acquiring an additional 364,608 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of TaskUs by 7.9% in the 4th quarter. Ameriprise Financial Inc. now owns 957,653 shares of the company’s stock valued at $16,223,000 after purchasing an additional 69,704 shares during the last quarter. Royce & Associates LP increased its stake in TaskUs by 10.9% during the fourth quarter. Royce & Associates LP now owns 742,679 shares of the company’s stock worth $12,581,000 after acquiring an additional 73,100 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of TaskUs by 7.0% in the 4th quarter. Renaissance Technologies LLC now owns 497,623 shares of the company’s stock valued at $8,430,000 after purchasing an additional 32,500 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in TaskUs by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 471,011 shares of the company’s stock valued at $7,979,000 after buying an additional 23,713 shares in the last quarter. 44.64% of the stock is currently owned by institutional investors and hedge funds.

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.