LegalZoom.com, Inc. (NASDAQ:LZ) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. lowered its holdings in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 19.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 193,577 shares of the company's stock after selling 47,922 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.11% of LegalZoom.com worth $1,454,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Aigen Investment Management LP purchased a new position in LegalZoom.com during the fourth quarter valued at $76,000. Olympiad Research LP purchased a new stake in LegalZoom.com during the fourth quarter valued at $78,000. Quantessence Capital LLC bought a new stake in LegalZoom.com during the fourth quarter valued at about $78,000. Sei Investments Co. bought a new stake in LegalZoom.com during the fourth quarter valued at about $83,000. Finally, Cibc World Markets Corp bought a new position in shares of LegalZoom.com in the fourth quarter worth about $90,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LZ. William Blair reissued a "market perform" rating on shares of LegalZoom.com in a research note on Thursday, February 27th. JMP Securities reiterated a "market perform" rating on shares of LegalZoom.com in a report on Thursday. JPMorgan Chase & Co. increased their price objective on LegalZoom.com from $9.00 to $11.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. Barclays increased their price objective on LegalZoom.com from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 27th. Finally, Morgan Stanley increased their target price on LegalZoom.com from $7.00 to $8.00 and gave the company an "underweight" rating in a research report on Friday, May 9th. Two investment 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, LegalZoom.com has an average rating of "Hold" and an average target price of $9.19.

LegalZoom.com Price Performance

LZ traded up $0.09 during trading hours on Friday, reaching $9.29. The company's stock had a trading volume of 1,459,476 shares, compared to its average volume of 1,835,748. LegalZoom.com, Inc. has a fifty-two week low of $5.33 and a fifty-two week high of $10.60. The stock has a market cap of $1.68 billion, a PE ratio of 71.47, a P/E/G ratio of 1.73 and a beta of 1.14. The business's 50-day moving average is $8.16 and its 200-day moving average is $8.31.

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

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.