Acadian Asset Management LLC Takes $6.36 Million Position in LegalZoom.com, Inc. $LZ

Key Points

• Acadian Asset Management LLC has acquired a new stake in LegalZoom.com, Inc., purchasing 740,063 shares valued at approximately $6.36 million, representing about 0.41% of the company.
• LegalZoom.com reported its earnings for the quarter, achieving $0.15 earnings per share, meeting consensus estimates, with revenues of $192.51 million, exceeding expectations of $182.49 million.
• A number of research firms have upgraded their ratings and price targets for LegalZoom.com, including Bank of America, which raised its target from $8.00 to $12.00 and upgraded the stock to a "buy" rating.

Acadian Asset Management LLC acquired a new stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 740,063 shares of the company's stock, valued at approximately $6,360,000. Acadian Asset Management LLC owned about 0.41% of LegalZoom.com at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of LegalZoom.com during the first quarter valued at about $281,000. Ameriprise Financial Inc. raised its stake in shares of LegalZoom.com by 30.0% during the fourth quarter. Ameriprise Financial Inc. now owns 322,510 shares of the company's stock valued at $2,422,000 after acquiring an additional 74,507 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of LegalZoom.com by 297.9% during the fourth quarter. Nuveen Asset Management LLC now owns 1,171,584 shares of the company's stock valued at $8,799,000 after acquiring an additional 877,125 shares during the last quarter. Graham Capital Management L.P. bought a new position in shares of LegalZoom.com during the fourth quarter valued at about $334,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of LegalZoom.com by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 46,857 shares of the company's stock valued at $403,000 after acquiring an additional 16,430 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Insider Activity

In other LegalZoom.com news, Director John Francis Murphy sold 24,250 shares of LegalZoom.com stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $10.57, for a total value of $256,322.50. Following the sale, the director directly owned 69,953 shares in the company, valued at approximately $739,403.21. The trade was a 25.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Noel Bertram Watson sold 27,319 shares of LegalZoom.com stock in a transaction on Monday, August 25th. The stock was sold at an average price of $11.07, for a total transaction of $302,421.33. Following the completion of the transaction, the chief financial officer directly owned 1,676,426 shares of the company's stock, valued at $18,558,035.82. The trade was a 1.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,859 shares of company stock worth $1,193,100 in the last three months. Company insiders own 5.90% of the company's stock.

LegalZoom.com Trading Up 0.1%

Shares of LZ stock opened at $10.56 on Friday. LegalZoom.com, Inc. has a 12-month low of $6.26 and a 12-month high of $11.93. The firm's 50 day moving average is $9.87 and its 200 day moving average is $9.08. The stock has a market capitalization of $1.90 billion, a P/E ratio of 66.00, a P/E/G ratio of 2.53 and a beta of 1.25.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.15. LegalZoom.com had a net margin of 4.07% and a return on equity of 20.36%. The company had revenue of $192.51 million for the quarter, compared to analysts' expectations of $182.49 million. During the same quarter last year, the company posted $0.10 earnings per share. The firm's quarterly revenue was up 8.5% on a year-over-year basis. LegalZoom.com has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts predict that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on LZ. Citigroup increased their price target on shares of LegalZoom.com from $10.00 to $12.00 and gave the stock a "neutral" rating in a research note on Monday, August 25th. Barclays increased their price target on shares of LegalZoom.com from $9.00 to $10.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 12th. Bank of America raised shares of LegalZoom.com from an "underperform" rating to a "buy" rating and increased their price target for the stock from $8.00 to $12.00 in a research note on Friday, August 8th. Wall Street Zen downgraded shares of LegalZoom.com from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of LegalZoom.com from $12.00 to $14.00 and gave the company an "overweight" rating in a research note on Monday, September 8th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $10.83.

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.

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