LegalZoom.com, Inc. (NASDAQ:LZ) Stock Position Reduced by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board reduced its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 60.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,400 shares of the company's stock after selling 162,600 shares during the period. Canada Pension Plan Investment Board owned about 0.06% of LegalZoom.com worth $792,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Barclays PLC lifted its holdings in 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 during the last quarter. Pathway Capital Management LP bought a new position in LegalZoom.com during the 4th quarter worth $2,387,000. JPMorgan Chase & Co. increased its position in LegalZoom.com by 14.4% in the third quarter. JPMorgan Chase & Co. now owns 567,675 shares of the company's stock worth $3,605,000 after buying an additional 71,291 shares during the period. Oak Harvest Investment Services acquired a new stake in LegalZoom.com in the fourth quarter worth $751,000. Finally, Citizens Financial Group Inc. RI lifted its stake in LegalZoom.com by 11.3% in the fourth quarter. Citizens Financial Group Inc. RI now owns 545,404 shares of the company's stock valued at $4,096,000 after buying an additional 55,336 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

Wall Street Analyst Weigh In

LZ has been the topic of several recent research reports. JMP Securities reiterated a "market perform" rating on shares of LegalZoom.com in a research report on Friday, April 11th. 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 report on Tuesday, February 11th. Barclays lifted their target price on LegalZoom.com from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. Morgan Stanley lowered their price target on LegalZoom.com from $10.00 to $7.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Finally, William Blair reiterated a "market perform" rating on shares of LegalZoom.com in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $9.06.

LegalZoom.com Stock Down 1.2 %

Shares of NASDAQ LZ traded down $0.09 during mid-day trading on Wednesday, hitting $7.32. 1,468,828 shares of the company traded hands, compared to its average volume of 1,825,595. The business has a 50 day moving average of $8.44 and a two-hundred day moving average of $8.18. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 56.31, a PEG ratio of 1.73 and a beta of 1.13. LegalZoom.com, Inc. has a 1 year low of $5.33 and a 1 year high of $12.43.

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.