Steven Amaya, Chief Accounting Officer of TaskUs, Inc. (NASDAQ:TASK), a $1.53 billion market cap company with a "GREAT" InvestingPro Financial Health score, recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. On December 13 and 16, Amaya sold a total of 78,179 shares of TaskUs' Class A Common Stock, amounting to approximately $1.42 million. The shares were sold at prices ranging from $17.13 to $18.17 per share, amid the stock's impressive 34% gain over the past six months and strong liquidity position with a current ratio of 3.02.
In addition to the sales, Amaya exercised stock options to acquire shares at prices between $2.33 and $11.96, totaling $626,914. Following these transactions, Amaya no longer holds any shares directly. The sales were conducted under a pre-established Rule 10b5-1 trading plan. For comprehensive insider trading analysis and 10+ additional key insights about TaskUs, visit InvestingPro.
In other recent news, TaskUs Inc. has reported record-breaking Q3 revenue of $255.3 million, a 13.2% increase year-over-year. The company has also raised its full-year revenue forecast for 2024 to between $988 million and $990 million. Despite these positive developments, TaskUs' adjusted EBITDA margin fell short due to increased operational investments. However, strong demand from top clients is expected to drive growth in Q4, particularly in trust and safety and AI services.
Morgan Stanley (NYSE:MS) has upgraded TaskUs shares, citing the company's robust AI service expansion potential and its competitive advantage in the market. TaskUs is also extending its share repurchase program until December 31, 2025, authorizing the repurchase of up to $200 million worth of shares. In addition to these developments, TaskUs is diversifying into countercyclical sectors such as healthcare and traditional banking, with expected growth in these areas by 2025. These are some of the recent developments in the company.
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