Accurate Wealth Management LLC Takes Position in LegalZoom.com, Inc. (NASDAQ:LZ)

Accurate Wealth Management LLC acquired a new stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 56,916 shares of the company's stock, valued at approximately $490,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in LegalZoom.com by 14.5% in the 4th quarter. Vanguard Group Inc. now owns 20,271,769 shares of the company's stock worth $152,241,000 after purchasing an additional 2,574,700 shares during the last quarter. Renaissance Technologies LLC grew its holdings in LegalZoom.com by 7.6% in the 4th quarter. Renaissance Technologies LLC now owns 3,525,142 shares of the company's stock worth $26,474,000 after buying an additional 250,409 shares in the last quarter. Ararat Capital Management LP grew its holdings in LegalZoom.com by 26.6% in the 4th quarter. Ararat Capital Management LP now owns 3,248,482 shares of the company's stock worth $24,396,000 after buying an additional 682,678 shares in the last quarter. Franklin Resources Inc. grew its holdings in LegalZoom.com by 0.9% in the 4th quarter. Franklin Resources Inc. now owns 3,094,594 shares of the company's stock worth $23,240,000 after buying an additional 26,607 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in LegalZoom.com by 30.4% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,020,431 shares of the company's stock valued at $15,173,000 after acquiring an additional 471,338 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on LZ shares. Morgan Stanley lifted their target price on LegalZoom.com from $7.00 to $8.00 and gave the company an "underweight" rating in a research note on Friday, May 9th. Wall Street Zen raised LegalZoom.com from a "buy" rating to a "strong-buy" rating in a report on Friday, May 30th. JMP Securities reaffirmed a "market perform" rating on shares of LegalZoom.com in a report on Thursday, May 15th. JPMorgan Chase & Co. increased their target price on shares of LegalZoom.com from $11.00 to $12.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Finally, William Blair reissued a "market perform" rating on shares of LegalZoom.com in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $8.64.

LegalZoom.com Price Performance

Shares of LZ traded down $0.08 during mid-day trading on Wednesday, hitting $9.19. The company's stock had a trading volume of 1,653,184 shares, compared to its average volume of 1,781,037. The firm has a 50-day moving average price of $8.23 and a 200 day moving average price of $8.48. LegalZoom.com, Inc. has a fifty-two week low of $5.33 and a fifty-two week high of $10.60. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 70.70, a PEG ratio of 1.73 and a beta of 1.25.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share for the quarter, hitting analysts' consensus estimates of $0.13. The firm had revenue of $183.11 million during the quarter, compared to analysts' expectations of $176.17 million. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. As a group, equities analysts anticipate that LegalZoom.com, Inc. will post 0.25 EPS for the current fiscal 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.