Cubist Systematic Strategies LLC Acquires Shares of 442,207 LegalZoom.com, Inc. (NASDAQ:LZ)

Cubist Systematic Strategies LLC bought a new position in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 442,207 shares of the company's stock, valued at approximately $3,321,000. Cubist Systematic Strategies LLC owned approximately 0.26% of LegalZoom.com at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Centiva Capital LP bought a new position in LegalZoom.com in the fourth quarter worth approximately $334,000. Bank of America Corp DE grew its stake in LegalZoom.com by 23.5% in the fourth quarter. Bank of America Corp DE now owns 322,221 shares of the company's stock worth $2,420,000 after purchasing an additional 61,405 shares in the last quarter. BNP Paribas Financial Markets bought a new position in LegalZoom.com in the fourth quarter worth approximately $1,122,000. Ameriprise Financial Inc. grew its stake in LegalZoom.com by 30.0% in the fourth quarter. Ameriprise Financial Inc. now owns 322,510 shares of the company's stock worth $2,422,000 after purchasing an additional 74,507 shares in the last quarter. Finally, Ararat Capital Management LP grew 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 worth $24,396,000 after purchasing an additional 682,678 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LZ. 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. JMP Securities reaffirmed a "market perform" rating on shares of LegalZoom.com in a research report on Friday, April 11th. Barclays increased their target price on LegalZoom.com from $8.00 to $9.00 and gave the company an "equal weight" rating in a research report on Thursday, February 27th. William Blair reaffirmed a "market perform" rating on shares of LegalZoom.com in a research report 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 assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, LegalZoom.com presently has a consensus rating of "Hold" and an average price target of $9.19.

LegalZoom.com Trading Down 3.3%

Shares of LZ traded down $0.31 during midday trading on Wednesday, hitting $9.20. 2,564,987 shares of the company's stock traded hands, compared to its average volume of 1,844,660. LegalZoom.com, Inc. has a 1 year low of $5.33 and a 1 year high of $10.60. The firm's fifty day moving average is $8.17 and its 200-day moving average is $8.27. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 70.77, a price-to-earnings-growth ratio of 1.73 and a beta of 1.14.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $183.11 million during the quarter, compared to analyst estimates of $176.17 million. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 EPS. On average, equities research analysts anticipate 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.