Avory & Company LLC Makes New Investment in LegalZoom.com, Inc. (NASDAQ:LZ)

Avory & Company LLC acquired a new stake in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 368,537 shares of the company's stock, valued at approximately $3,173,000. LegalZoom.com accounts for about 2.0% of Avory & Company LLC's investment portfolio, making the stock its 13th biggest holding. Avory & Company LLC owned about 0.21% of LegalZoom.com as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. State of Wyoming grew its position in shares of LegalZoom.com by 42.1% in the 4th quarter. State of Wyoming now owns 8,347 shares of the company's stock valued at $63,000 after purchasing an additional 2,475 shares during the period. GAMMA Investing LLC lifted its stake in LegalZoom.com by 2,750.6% in the 1st quarter. GAMMA Investing LLC now owns 9,635 shares of the company's stock valued at $83,000 after acquiring an additional 9,297 shares in the last quarter. Aigen Investment Management LP bought a new stake in LegalZoom.com in the 4th quarter valued at approximately $76,000. Quantessence Capital LLC bought a new stake in shares of LegalZoom.com during the 4th quarter worth approximately $78,000. Finally, Sei Investments Co. bought a new stake in shares of LegalZoom.com during the 4th quarter worth approximately $83,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

LegalZoom.com Stock Performance

LZ traded up $0.07 during trading hours on Monday, reaching $8.91. The company's stock had a trading volume of 2,428,293 shares, compared to its average volume of 1,787,777. LegalZoom.com, Inc. has a 52 week low of $5.33 and a 52 week high of $10.60. The company's 50-day moving average is $8.63 and its 200-day moving average is $8.55. The firm has a market cap of $1.61 billion, a PE ratio of 52.41, a price-to-earnings-growth ratio of 3.77 and a beta of 1.25.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share for the quarter, meeting analysts' consensus estimates of $0.13. LegalZoom.com had a return on equity of 28.00% and a net margin of 4.39%. The business had revenue of $183.11 million for the quarter, compared to analysts' expectations of $176.17 million. During the same quarter in the prior year, the business earned $0.09 EPS. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts anticipate that LegalZoom.com, Inc. will post 0.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Wall Street Zen upgraded LegalZoom.com from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 30th. Morgan Stanley upped their price objective on LegalZoom.com from $7.00 to $8.00 and gave the stock an "underweight" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. upped their price objective on LegalZoom.com from $11.00 to $12.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Finally, JMP Securities reiterated a "market perform" rating on shares of LegalZoom.com in a research note on Thursday, May 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $8.64.

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.