Acadian Asset Management LLC Invests $6.36 Million 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 position in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 740,063 shares of the company's stock, valued at approximately $6,360,000. Acadian Asset Management LLC owned approximately 0.41% of LegalZoom.com as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in LegalZoom.com by 1.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 275,978 shares of the company's stock worth $2,376,000 after purchasing an additional 4,607 shares in the last quarter. Caxton Associates LLP purchased a new stake in LegalZoom.com during the 1st quarter worth about $387,000. Goldman Sachs Group Inc. lifted its holdings in LegalZoom.com by 9.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,313,429 shares of the company's stock worth $11,309,000 after purchasing an additional 113,769 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in LegalZoom.com by 23.8% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 50,039 shares of the company's stock worth $431,000 after purchasing an additional 9,635 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. purchased a new stake in LegalZoom.com during the 1st quarter worth about $6,897,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

LegalZoom.com Stock Up 4.0%

Shares of LegalZoom.com stock traded up $0.43 during trading on Thursday, hitting $11.10. 2,165,343 shares of the stock traded hands, compared to its average volume of 2,261,752. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 69.38, a PEG ratio of 3.27 and a beta of 1.25. The firm's fifty day moving average is $10.00 and its 200-day moving average is $9.10. LegalZoom.com, Inc. has a 52 week low of $6.26 and a 52 week high of $11.93.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. The firm had revenue of $192.51 million for the quarter, compared to analyst estimates of $182.49 million. LegalZoom.com had a return on equity of 20.36% and a net margin of 4.07%.The company's revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 EPS. LegalZoom.com has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, analysts forecast that LegalZoom.com, Inc. will post 0.25 earnings per share for the current fiscal year.

Insider Activity

In related news, Director John Francis Murphy sold 24,250 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $10.57, for a total transaction of $256,322.50. Following the transaction, the director directly owned 69,953 shares in the company, valued at $739,403.21. This trade represents a 25.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicole Miller sold 25,154 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $10.82, for a total value of $272,166.28. Following the transaction, the insider owned 960,032 shares in the company, valued at approximately $10,387,546.24. The trade was a 2.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 109,859 shares of company stock worth $1,193,100. 5.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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