Algert Global LLC Sells 46,062 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

Algert Global LLC cut its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 43.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,061 shares of the company's stock after selling 46,062 shares during the period. Algert Global LLC's holdings in LegalZoom.com were worth $444,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ararat Capital Management LP boosted its stake in LegalZoom.com by 26.6% in the fourth quarter. Ararat Capital Management LP now owns 3,248,482 shares of the company's stock valued at $24,396,000 after acquiring an additional 682,678 shares during the last quarter. Utah Retirement Systems purchased a new stake in shares of LegalZoom.com during the 4th quarter valued at approximately $477,000. PDT Partners LLC lifted its stake in shares of LegalZoom.com by 66.0% during the 4th quarter. PDT Partners LLC now owns 291,452 shares of the company's stock valued at $2,189,000 after buying an additional 115,849 shares in the last quarter. Quarry LP lifted its stake in shares of LegalZoom.com by 117.4% during the 4th quarter. Quarry LP now owns 17,837 shares of the company's stock valued at $134,000 after buying an additional 9,631 shares in the last quarter. Finally, Boothbay Fund Management LLC lifted its stake in shares of LegalZoom.com by 123.7% during the 4th quarter. Boothbay Fund Management LLC now owns 23,604 shares of the company's stock valued at $177,000 after buying an additional 13,053 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. JMP Securities reaffirmed a "market perform" rating on shares of LegalZoom.com in a report on Thursday. William Blair reaffirmed a "market perform" rating on shares of LegalZoom.com in a report on Thursday, February 27th. Barclays upped their target price on shares of LegalZoom.com from $8.00 to $9.00 and gave the stock an "equal weight" rating in a report on Thursday, February 27th. JPMorgan Chase & Co. upped their target price on shares of LegalZoom.com from $9.00 to $11.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Finally, Morgan Stanley upped their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an "underweight" rating in a report on Friday, May 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, LegalZoom.com currently has an average rating of "Hold" and an average price target of $9.19.

LegalZoom.com Stock Performance

Shares of LZ stock traded up $0.04 during trading hours on Friday, reaching $9.24. The company had a trading volume of 275,467 shares, compared to its average volume of 1,834,694. The business has a fifty day moving average price of $8.15 and a 200-day moving average price of $8.29. The firm has a market cap of $1.67 billion, a PE ratio of 70.97, a price-to-earnings-growth ratio of 1.73 and a beta of 1.14. LegalZoom.com, Inc. has a one year low of $5.33 and a one year high of $10.60.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share for the quarter, hitting analysts' consensus estimates of $0.13. The business had revenue of $183.11 million during the quarter, compared to analyst estimates of $176.17 million. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The company's revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share. Equities research analysts forecast that LegalZoom.com, Inc. will post 0.25 EPS for the current year.

About LegalZoom.com

LegalZoom.com, Inc, together with its subsidiaries, operates an online platform that supports the legal, compliance, and business management needs of small businesses and consumers in the United States. The company's platform offers business formation products, such as limited liability company, incorporation of C and S corporations, nonprofit formations, doing-business-as, corporate changes and filings, business licenses, legal forms, and beneficial ownership information reports; intellectual property products consisting of trademark and patent applications, and copyright registrations; and tax services, including business and personal tax preparations.