Trustpilot Group (LON:TRST) Stock Price Up 15% - Here's What Happened

Key Points

• Trustpilot Group's shares surged by 15% on Tuesday, reaching a high of GBX 231.40 ($3.15), with trading volume increasing by 178% compared to the average session.
• A number of research firms have maintained a "buy" rating for Trustpilot Group, with target prices ranging from GBX 200 to GBX 420, while the consensus price target is set at GBX 340.
• Insider Peter Holten Mühlmann sold 250,000 shares at an average price of GBX 230, indicating confidence in the stock's current value and market performance.

Trustpilot Group plc (LON:TRST - Get Free Report)'s stock price rose 15% on Tuesday . The company traded as high as GBX 231.40 ($3.12) and last traded at GBX 230.60 ($3.11). Approximately 8,710,869 shares were traded during trading, an increase of 178% from the average daily volume of 3,128,278 shares. The stock had previously closed at GBX 200.60 ($2.70).

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Panmure Gordon began coverage on shares of Trustpilot Group in a research report on Monday, June 9th. They set a "sell" rating and a GBX 200 price objective for the company. Berenberg Bank restated a "buy" rating and set a GBX 420 price objective on shares of Trustpilot Group in a research report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft raised their target price on Trustpilot Group from GBX 331 to GBX 343 and gave the company a "buy" rating in a report on Tuesday. Finally, UBS Group reissued a "buy" rating and set a GBX 400 price target on shares of Trustpilot Group in a report on Friday, September 5th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Trustpilot Group currently has an average rating of "Moderate Buy" and a consensus price target of GBX 340.75.

Trustpilot Group Stock Down 3.6%

The firm has a market capitalization of £931.56 million, a price-to-earnings ratio of 16,328.57 and a beta of 1.02. The company has a debt-to-equity ratio of 41.16, a current ratio of 1.31 and a quick ratio of 1.71. The stock has a fifty day moving average of GBX 229.57 and a two-hundred day moving average of GBX 231.62.

Trustpilot Group declared that its board has authorized a stock buyback program on Tuesday, September 16th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Zillah Byng-Thorne acquired 27,755 shares of Trustpilot Group stock in a transaction on Tuesday, September 16th. The stock was purchased at an average price of GBX 215 per share, with a total value of £59,673.25. Also, insider Peter Holten Mühlmann sold 350,000 shares of Trustpilot Group stock in a transaction on Monday, June 23rd. The shares were sold at an average price of GBX 230, for a total transaction of £805,000. In the last three months, insiders have sold 838,976 shares of company stock worth $191,052,672. Corporate insiders own 17.61% of the company's stock.

About Trustpilot Group

Trustpilot began in 2007 with a simple yet powerful idea that is more relevant today than ever — to be the universal symbol of trust, bringing consumers and businesses together through reviews. Trustpilot is open, independent, and impartial — we help consumers make the right choices and businesses to build trust, grow and improve. Today, we have more than 300 million reviews and 67 million monthly active users across the globe, with 127 billion annual Trustpilot brand impressions, and the numbers keep growing.