ArrowMark Colorado Holdings LLC Has $14.19 Million Stock Position in LegalZoom.com, Inc. (NASDAQ:LZ)

ArrowMark Colorado Holdings LLC lessened its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 22.0% in the fourth quarter, according to its most recent filing with the SEC. The firm 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Barclays PLC increased its position in shares of LegalZoom.com by 308.5% in the third quarter. Barclays PLC now owns 224,782 shares of the company's stock worth $1,427,000 after acquiring an additional 169,761 shares in the last quarter. Pathway Capital Management LP purchased a new position in shares of LegalZoom.com during the fourth quarter valued at $2,387,000. JPMorgan Chase & Co. lifted its stake in LegalZoom.com by 14.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 567,675 shares of the company's stock worth $3,605,000 after acquiring an additional 71,291 shares in the last quarter. Oak Harvest Investment Services purchased a new position in LegalZoom.com during the 4th quarter valued at about $751,000. Finally, Citizens Financial Group Inc. RI lifted its position in shares of LegalZoom.com by 11.3% in the fourth quarter. Citizens Financial Group Inc. RI now owns 545,404 shares of the company's stock worth $4,096,000 after purchasing an additional 55,336 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LZ has been the subject of a number of research reports. Morgan Stanley reduced their price objective on LegalZoom.com from $10.00 to $7.00 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. increased their price target on shares of LegalZoom.com from $9.00 to $11.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. Barclays upped their price objective 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. JMP Securities reaffirmed a "market perform" rating on shares of LegalZoom.com in a research report on Friday, April 11th. Finally, William Blair reissued a "market perform" rating on shares of LegalZoom.com in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $9.06.

LegalZoom.com Trading Up 26.9 %

NASDAQ:LZ traded up $1.95 during mid-day trading on Thursday, hitting $9.20. 3,136,337 shares of the company's stock were exchanged, compared to its average volume of 1,848,201. The firm has a market capitalization of $1.62 billion, a P/E ratio of 70.77, a PEG ratio of 1.73 and a beta of 1.14. The company has a 50 day simple moving average of $8.23 and a 200-day simple moving average of $8.20. LegalZoom.com, Inc. has a fifty-two week low of $5.33 and a fifty-two week high of $10.60.

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