Stock Traders Purchase Large Volume of Call Options on TaskUs (NASDAQ:TASK)

TaskUs, Inc. (NASDAQ:TASK) was the recipient of unusually large options trading on Wednesday. Traders purchased 5,750 call options on the stock. This is an increase of approximately 327% compared to the typical daily volume of 1,347 call options.

In other news, major shareholder Fc Aggregator L.P. Bcp sold 8,127,882 shares of the stock in a transaction dated Monday, October 25th. The shares were sold at an average price of $61.44, for a total transaction of $499,377,070.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Jaspar Weir sold 1,974,799 shares of the stock in a transaction dated Monday, October 25th. The stock was sold at an average price of $61.44, for a total transaction of $121,331,650.56. The disclosure for this sale can be found here.

Hedge funds have recently modified their holdings of the business. Financial Management Professionals Inc. purchased a new position in TaskUs in the third quarter valued at about $69,000. Cat Rock Capital Management LP bought a new stake in TaskUs during the 2nd quarter worth approximately $88,000. Advisor Group Holdings Inc. increased its holdings in TaskUs by 429.4% during the 3rd quarter. Advisor Group Holdings Inc. now owns 1,403 shares of the company’s stock worth $93,000 after acquiring an additional 1,138 shares during the period. Atticus Wealth Management LLC bought a new position in shares of TaskUs in the 3rd quarter worth $106,000. Finally, Rockefeller Capital Management L.P. bought a new position in shares of TaskUs in the 3rd quarter worth $152,000. 20.90% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of TaskUs from $43.00 to $69.00 and gave the company an “outperform” rating in a research note on Thursday, November 11th. Robert W. Baird reaffirmed a “buy” rating on shares of TaskUs in a report on Thursday, August 12th. JPMorgan Chase & Co. raised their target price on shares of TaskUs from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Tuesday, August 17th. Bank of America lowered shares of TaskUs from a “buy” rating to a “neutral” rating and raised their target price for the company from $42.00 to $65.00 in a research report on Tuesday, September 14th. Finally, Zacks Investment Research upgraded shares of TaskUs from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a report on Thursday, November 18th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $52.22.

TASK stock traded up $4.55 during midday trading on Wednesday, hitting $47.98. The stock had a trading volume of 125,260 shares, compared to its average volume of 923,350. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.61. TaskUs has a 1-year low of $26.66 and a 1-year high of $85.49. The company’s fifty day moving average price is $63.78.

TaskUs (NASDAQ:TASK) last posted its quarterly earnings results on Wednesday, November 10th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.23. Research analysts expect that TaskUs will post -0.74 earnings per share for the current year.

TaskUs Company Profile

TaskUs, Inc provides outsourcing services to Internet companies worldwide. It offers digital customer experience that consists of omni-channel customer care services primarily delivered through digital channels; and other solutions, including customer care services for new product or market launches, trust and safety solutions, and customer acquisition solutions.

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