Ameriprise Financial Inc. Increases Stake in LegalZoom.com, Inc. (NASDAQ:LZ)

Ameriprise Financial Inc. boosted its position in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 30.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 322,510 shares of the company's stock after purchasing an additional 74,507 shares during the quarter. Ameriprise Financial Inc. owned about 0.19% of LegalZoom.com worth $2,422,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of LZ. Aigen Investment Management LP acquired a new stake in shares of LegalZoom.com in the 4th quarter worth $76,000. Olympiad Research LP acquired a new stake in shares of LegalZoom.com in the 4th quarter worth $78,000. Quantessence Capital LLC acquired a new stake in shares of LegalZoom.com in the 4th quarter worth $78,000. Sei Investments Co. acquired a new stake in shares of LegalZoom.com in the 4th quarter worth $83,000. Finally, Cibc World Markets Corp acquired a new stake in shares of LegalZoom.com in the 4th quarter worth $90,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LZ has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on LegalZoom.com from $11.00 to $12.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Barclays increased their price target on LegalZoom.com from $8.00 to $9.00 and gave the stock an "equal weight" rating in a report on Thursday, February 27th. William Blair reiterated a "market perform" rating on shares of LegalZoom.com in a report on Thursday, February 27th. Morgan Stanley increased their price target on LegalZoom.com from $7.00 to $8.00 and gave the stock an "underweight" rating in a report on Friday, May 9th. Finally, Wall Street Zen upgraded LegalZoom.com from a "buy" rating to a "strong-buy" rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $8.64.

LegalZoom.com Trading Down 0.3%

LegalZoom.com stock traded down $0.03 during midday trading on Monday, reaching $9.10. 2,143,166 shares of the stock traded hands, compared to its average volume of 1,783,035. The company has a 50-day simple moving average of $8.17 and a two-hundred day simple moving average of $8.43. LegalZoom.com, Inc. has a 12-month low of $5.33 and a 12-month high of $10.60. The firm has a market cap of $1.65 billion, a PE ratio of 70.01, a price-to-earnings-growth ratio of 1.73 and a beta of 1.14.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.13 EPS for the quarter, meeting 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 during the quarter, compared to analysts' expectations of $176.17 million. During the same period last year, the business posted $0.09 EPS. LegalZoom.com's revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts anticipate that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

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.