AQR Capital Management LLC Increases Stock Position in LegalZoom.com, Inc. $LZ

Key Points

• AQR Capital Management LLC significantly increased its stake in LegalZoom.com by 158.6%, acquiring an additional 576,528 shares to bring its total ownership to 939,999 shares, valued at approximately $8.1 million.
• Several other institutional investors have also made moves, with 81.99% of LegalZoom's stock currently owned by institutional investors and hedge funds.
• Analysts have varied opinions on LegalZoom's stock, with price targets ranging from $10.00 to $14.00 and an average rating of "Hold," reflecting mixed sentiments in the market.

AQR Capital Management LLC raised its position in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 158.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 939,999 shares of the company's stock after acquiring an additional 576,528 shares during the period. AQR Capital Management LLC owned approximately 0.52% of LegalZoom.com worth $8,093,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in LZ. Quantbot Technologies LP acquired a new position in shares of LegalZoom.com during the first quarter valued at about $29,000. State of Wyoming raised its position in LegalZoom.com by 42.1% in the fourth quarter. State of Wyoming now owns 8,347 shares of the company's stock worth $63,000 after purchasing an additional 2,475 shares in the last quarter. GAMMA Investing LLC raised its position in LegalZoom.com by 2,750.6% in the first quarter. GAMMA Investing LLC now owns 9,635 shares of the company's stock worth $83,000 after purchasing an additional 9,297 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in LegalZoom.com in the first quarter worth about $91,000. Finally, Bryce Point Capital LLC acquired a new position in LegalZoom.com in the first quarter worth about $103,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at LegalZoom.com

In related news, CFO Noel Bertram Watson sold 27,319 shares of the company's stock in a transaction that occurred on Monday, August 25th. The shares were 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 in the company, valued at $18,558,035.82. This represents a 1.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicole Miller sold 25,154 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $10.82, for a total transaction of $272,166.28. Following the completion of the transaction, the insider owned 960,032 shares of the company's stock, valued at approximately $10,387,546.24. This trade represents a 2.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,859 shares of company stock valued at $1,193,100 in the last quarter. Company insiders own 5.90% of the company's stock.

LegalZoom.com Price Performance

Shares of NASDAQ LZ traded up $0.25 during midday trading on Wednesday, reaching $10.67. 1,885,043 shares of the stock were exchanged, compared to its average volume of 2,263,315. LegalZoom.com, Inc. has a 12 month low of $6.26 and a 12 month high of $11.93. The business has a 50-day simple moving average of $9.96 and a two-hundred day simple moving average of $9.09. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 66.69, a P/E/G ratio of 3.19 and a beta of 1.25.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.15 EPS for the quarter, hitting analysts' consensus estimates of $0.15. LegalZoom.com had a net margin of 4.07% and a return on equity of 20.36%. The business had revenue of $192.51 million for the quarter, compared to analyst estimates of $182.49 million. During the same period last year, the business 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. Equities research analysts expect that LegalZoom.com, Inc. will post 0.25 earnings per share for the current fiscal year.

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.