3 Best Stocks to Buy According to ‘Warren Buffett of Brazil’

2. TaskUs, Inc. (NASDAQ:TASK)

3G Capital’s Stake Value: $14,331,000

Percentage of 3G Capital’s 13F Portfolio: 23.71%

Number of Hedge Fund Holders: 15

TaskUs, Inc. (NASDAQ:TASK) got dethroned from its top spot in 3G Capital’s 13F portfolio in Q2 as the fund cut its stake in the company by half during that period. Founded in 2008, TaskUs, Inc. (NASDAQ:TASK) is an outsourcing company that handles content moderation for leading digital players like Facebook, DoorDash and many more. It filed for an IPO and started trading on the NASDAQ in the second quarter of 2021, the same quarter in which 3G Capital disclosed a stake in the company for the first time. Since then, the fund increased its stake in TaskUs, Inc. (NASDAQ:TASK) every quarter, but the consistent underperformance of the latter’s stock could be why 3G Capital stopped averaging down and cut its losses in Q2.

On August 10, analysts at The Goldman Sachs Group downgraded TaskUs, Inc.’s (NASDAQ:TASK) stock to ‘Neutral’ from ‘Buy’ and also reduced their price target on it to $24 from $26, which still represents a potential upside of over 60% from the stock’s last closing price.