Trustpilot Group (LON:TRST) Stock Price Down 23.5% – Here’s What Happened

Trustpilot Group plc (LON:TRST)’s stock price dropped 23.5% during trading on Thursday . The stock traded as low as GBX 144.10 and last traded at GBX 145.10. Approximately 14,177,045 shares traded hands during mid-day trading, an increase of 295% from the average daily volume of 3,585,266 shares. The stock had previously closed at GBX 189.70.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TRST shares. UBS Group reissued a “buy” rating and set a GBX 400 target price on shares of Trustpilot Group in a research report on Friday, September 5th. Deutsche Bank Aktiengesellschaft increased their price target on Trustpilot Group from GBX 331 to GBX 343 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of GBX 340.75.

Trustpilot Group Price Performance

The firm has a market cap of £584.44 million, a PE ratio of -1.24 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 business’s fifty day moving average is GBX 197.45 and its 200-day moving average is GBX 219.77.

Trustpilot Group announced that its Board of Directors has initiated a stock buyback program on Tuesday, September 16th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Trustpilot Group

In other news, insider Hanno Damm acquired 50,000 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were acquired at an average price of GBX 140 per share, for a total transaction of £70,000. Also, insider Adrian Blair acquired 74,300 shares of Trustpilot Group stock in a transaction on Wednesday, October 22nd. The shares were purchased at an average cost of GBX 201 per share, with a total value of £149,343. Over the last quarter, insiders purchased 327,012 shares of company stock worth $56,344,753. Company insiders own 17.92% 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.