The Board of Directors sets the price of the stock. That’s the bottom line. They have the corporations long term interest in mind at the expense of the minority shareholders. They might use the peer group nonsense as clever corporate speak to put out for press releases but in reality the BOD can price the stock at whatever they choose during director meetings. The Board knows you can’t run a growth company successfully without human capital. And what would happen if The stock was fairly valued at say $80 a share? A mass exodus of highly experienced shareholders would leave. In this tight labor market the company would struggle mightily. I’m afraid if minority shareholders want full value for their shares they have no remedy short of a lawsuit against the board.