Ameriprise Financial Inc. Raises Holdings in LegalZoom.com, Inc. (NASDAQ:LZ)

Ameriprise Financial Inc. increased its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 30.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 322,510 shares of the company's stock after acquiring an additional 74,507 shares during the period. Ameriprise Financial Inc. owned approximately 0.19% of LegalZoom.com worth $2,422,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. SG Americas Securities LLC increased its holdings in LegalZoom.com by 44.8% in the fourth quarter. SG Americas Securities LLC now owns 90,104 shares of the company's stock valued at $677,000 after buying an additional 27,867 shares in the last quarter. Brighton Jones LLC purchased a new position in LegalZoom.com in the 4th quarter valued at approximately $185,000. Oak Harvest Investment Services acquired a new position in LegalZoom.com during the fourth quarter worth $751,000. Savant Capital LLC purchased a new stake in LegalZoom.com during the fourth quarter worth $163,000. Finally, Summit Trail Advisors LLC grew its holdings in LegalZoom.com by 6.8% in the fourth quarter. Summit Trail Advisors LLC now owns 73,531 shares of the company's stock valued at $552,000 after purchasing an additional 4,697 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

LegalZoom.com Trading Up 0.9%

Shares of NASDAQ LZ traded up $0.08 during midday trading on Friday, reaching $9.18. 1,504,310 shares of the stock were exchanged, compared to its average volume of 1,782,267. The company has a market capitalization of $1.66 billion, a P/E ratio of 70.62, a P/E/G ratio of 1.73 and a beta of 1.14. The stock has a 50 day moving average price of $8.17 and a 200-day moving average price of $8.41. LegalZoom.com, Inc. has a 52-week low of $5.33 and a 52-week high of $10.60.

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

Analysts Set New Price Targets

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

LegalZoom.com Company 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.