Arkadios Wealth Advisors Makes New Investment in LegalZoom.com, Inc. (NASDAQ:LZ)

Key Points

• Arkadios Wealth Advisors acquired 70,076 shares of LegalZoom.com, Inc. valued at approximately $603,000, reflecting ongoing interest from institutional investors in the stock.
• LegalZoom's stock has shown volatility, currently trading down 3.6% at $8.67, with a 52-week range between $5.56 and $10.60.
• Analysts have a consensus rating of "Hold" on the stock, with price targets ranging from $7.00 to $12.00, reflecting diverse opinions on its future performance.

Arkadios Wealth Advisors acquired a new stake in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 70,076 shares of the company's stock, valued at approximately $603,000.

A number of other hedge funds also recently made changes to their positions in the stock. State of Wyoming grew its stake in LegalZoom.com by 42.1% during the 4th quarter. State of Wyoming now owns 8,347 shares of the company's stock valued at $63,000 after purchasing an additional 2,475 shares in the last quarter. Quantessence Capital LLC acquired a new position in LegalZoom.com during the 4th quarter valued at approximately $78,000. Sei Investments Co. bought a new stake in LegalZoom.com during the 4th quarter valued at $83,000. GAMMA Investing LLC raised its stake in LegalZoom.com by 2,750.6% during the 1st quarter. GAMMA Investing LLC now owns 9,635 shares of the company's stock valued at $83,000 after acquiring an additional 9,297 shares in the last quarter. Finally, Bryce Point Capital LLC acquired a new stake in shares of LegalZoom.com in the 1st quarter worth approximately $103,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on LZ. JMP Securities reaffirmed a "market perform" rating on shares of LegalZoom.com in a report on Thursday, May 15th. Wall Street Zen upgraded LegalZoom.com from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 30th. Morgan Stanley upped their price target on LegalZoom.com from $7.00 to $8.00 and gave the stock an "underweight" rating in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. increased their target price on LegalZoom.com from $11.00 to $12.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $9.30.

LegalZoom.com Price Performance

LZ traded down $0.22 during trading on Thursday, hitting $8.35. 2,161,082 shares of the stock traded hands, compared to its average volume of 1,979,490. LegalZoom.com, Inc. has a twelve month low of $5.56 and a twelve month high of $10.60. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 48.98, a PEG ratio of 3.54 and a beta of 1.23. The business has a 50 day moving average price of $8.93 and a 200 day moving average price of $8.75.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.13. LegalZoom.com had a net margin of 4.39% and a return on equity of 28.00%. The company had revenue of $183.11 million for the quarter, compared to analysts' expectations of $176.17 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The business's revenue was up 5.1% on a year-over-year basis. On average, equities research analysts predict 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.