ArrowMark Colorado Holdings LLC Sells 531,442 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

ArrowMark Colorado Holdings LLC decreased its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 22.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,888,788 shares of the company's stock after selling 531,442 shares during the quarter. ArrowMark Colorado Holdings LLC owned about 1.09% of LegalZoom.com worth $14,185,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in LZ. Aigen Investment Management LP acquired a new position in shares of LegalZoom.com during the 4th quarter worth approximately $76,000. Olympiad Research LP acquired a new position in shares of LegalZoom.com in the fourth quarter valued at $78,000. Quantessence Capital LLC acquired a new stake in shares of LegalZoom.com during the 4th quarter worth about $78,000. Sei Investments Co. bought a new stake in shares of LegalZoom.com during the 4th quarter worth about $83,000. Finally, Cibc World Markets Corp bought a new stake in shares of LegalZoom.com during the 4th quarter worth about $90,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LZ. Barclays boosted their price objective on 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 price objective on LegalZoom.com from $9.00 to $11.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. JMP Securities reissued a "market perform" rating on shares of LegalZoom.com in a report on Friday, April 11th. William Blair restated a "market perform" rating on shares of LegalZoom.com in a research note on Thursday, February 27th. Finally, Morgan Stanley lowered their price objective on LegalZoom.com from $10.00 to $7.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $9.06.

LegalZoom.com Price Performance

LZ stock traded down $0.03 during midday trading on Monday, reaching $7.35. 1,909,746 shares of the stock were exchanged, compared to its average volume of 1,837,278. LegalZoom.com, Inc. has a 52 week low of $5.33 and a 52 week high of $12.21. The company has a fifty day moving average price of $8.35 and a 200 day moving average price of $8.21. The stock has a market capitalization of $1.29 billion, a PE ratio of 56.54, a P/E/G ratio of 1.73 and a beta of 1.14.

LegalZoom.com Profile

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.