TaskUs, Inc. (NASDAQ:TASK – Get Rating)’s share price was down 4.9% on Wednesday after Robert W. Baird lowered their price target on the stock from $24.00 to $22.00. The company traded as low as $17.51 and last traded at $17.54. Approximately 2,350 shares changed hands during trading, a decline of 100% from the average daily volume of 639,534 shares. The stock had previously closed at $18.45.
TASK has been the subject of several other research reports. Wells Fargo & Company dropped their price target on TaskUs from $20.00 to $18.00 and set an “equal weight” rating for the company in a research report on Thursday, September 8th. BTIG Research dropped their price target on TaskUs to $30.00 in a research report on Tuesday, November 15th. Finally, Royal Bank of Canada dropped their target price on TaskUs from $36.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, September 14th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $29.78.
Hedge Funds Weigh In On TaskUs
A number of large investors have recently made changes to their positions in the business. FMR LLC increased its position in shares of TaskUs by 1.1% during the second quarter. FMR LLC now owns 4,158,412 shares of the company’s stock worth $70,111,000 after purchasing an additional 43,744 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of TaskUs by 26.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,852,513 shares of the company’s stock valued at $62,026,000 after buying an additional 811,728 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of TaskUs by 9.1% during the third quarter. Vanguard Group Inc. now owns 2,746,708 shares of the company’s stock valued at $44,222,000 after buying an additional 229,026 shares during the last quarter. Wasatch Advisors Inc. grew its holdings in shares of TaskUs by 47.0% during the first quarter. Wasatch Advisors Inc. now owns 2,138,576 shares of the company’s stock valued at $82,250,000 after buying an additional 683,441 shares during the last quarter. Finally, 3G Capital Partners LP grew its holdings in shares of TaskUs by 9.7% during the first quarter. 3G Capital Partners LP now owns 1,700,000 shares of the company’s stock valued at $65,382,000 after buying an additional 150,000 shares during the last quarter. 25.23% of the stock is owned by institutional investors and hedge funds.
TaskUs Stock Down 4.9 %