Shares of Trustpilot Group plc (LON:TRST) experienced a significant increase of 13.3% during trading on Saturday, following notable insider buying activities. The stock rose to a high of GBX 150 before closing at GBX 146.40, marking a sharp rise from the previous closing price of GBX 129.20. During this trading session, the volume surged to 8,857,204 shares, a remarkable increase of 137% compared to the average trading volume of 3,740,079 shares.
Insider transactions revealed that Joe Hurd acquired 718 shares on December 5, 2023, at an average price of GBX 140 per share, totaling £1,005.20. Earlier, on December 4, 2023, Hanno Damm purchased 50,000 shares at the same average price, amounting to £70,000. Another significant transaction involved Zillah Byng-Thorne, who bought 108,116 shares at an average price of GBX 138, with a total investment of approximately £149,200.08.
Analysts’ Insights and Market Performance
Equities research analysts have recently provided positive insights regarding Trustpilot Group’s stock. Deutsche Bank Aktiengesellschaft raised its price target from GBX 331 to GBX 343, maintaining a “buy” rating in a report dated September 16, 2023. Similarly, UBS Group reaffirmed a “buy” rating with a target price of GBX 400 on September 5, 2023. Currently, three investment analysts rate the stock as a Buy, while one has issued a Sell rating. According to MarketBeat, Trustpilot Group holds a consensus rating of “Moderate Buy” with an average price target of GBX 340.75.
The stock’s performance can be contextualized by its moving averages, with the 50-day moving average recorded at GBX 197.45 and the 200-day moving average at GBX 219.77. Trustpilot Group currently boasts a market capitalization of approximately £584.44 million, a price-to-earnings ratio of -1.24, and a beta of 1.02. The company’s debt-to-equity ratio stands at 41.16, complemented by a quick ratio of 1.71 and a current ratio of 1.31.
In a related development, the Board of Directors approved a stock buyback plan on September 16, 2023. This authorization enables the company to repurchase shares through open market purchases, often viewed as an indicator that the board believes the company’s shares are undervalued.
About Trustpilot Group
Founded in 2007, Trustpilot has established itself as a leading platform for consumer reviews, aiming to foster trust between consumers and businesses. With over 300 million reviews and 67 million monthly active users globally, the platform generates an impressive 127 billion annual brand impressions. As Trustpilot continues to grow, its commitment to providing impartial and independent reviews remains at the forefront of its mission.
Investors and market analysts will be closely monitoring further developments regarding Trustpilot Group as the company navigates its growth trajectory in the competitive landscape of online reviews.
