70,076 Shares in LegalZoom.com, Inc. (NASDAQ:LZ) Purchased by Arkadios Wealth Advisors

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 bought a new position in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 70,076 shares of the company's stock, valued at approximately $603,000.

Several other large investors have also made changes to their positions in LZ. Brighton Jones LLC acquired a new position in LegalZoom.com in the 4th quarter valued at $185,000. American Century Companies Inc. raised its stake in LegalZoom.com by 24.7% in the 4th quarter. American Century Companies Inc. now owns 319,878 shares of the company's stock valued at $2,402,000 after purchasing an additional 63,392 shares during the last quarter. Sei Investments Co. acquired a new position in LegalZoom.com in the 4th quarter valued at $83,000. KLP Kapitalforvaltning AS acquired a new position in LegalZoom.com in the 4th quarter valued at $161,000. Finally, Vanguard Group Inc. raised its stake in LegalZoom.com by 14.5% in the 4th quarter. Vanguard Group Inc. now owns 20,271,769 shares of the company's stock valued at $152,241,000 after purchasing an additional 2,574,700 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

LegalZoom.com Price Performance

Shares of LZ stock traded up $0.09 during midday trading on Monday, hitting $8.76. The company had a trading volume of 1,738,194 shares, compared to its average volume of 1,505,912. The company's 50 day simple moving average is $8.97 and its 200 day simple moving average is $8.75. LegalZoom.com, Inc. has a 52-week low of $5.56 and a 52-week high of $10.60. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 51.53, a PEG ratio of 3.70 and a beta of 1.23.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last announced its quarterly earnings data 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 28.00% and a net margin of 4.39%. The firm 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 earnings per share. LegalZoom.com's quarterly revenue was up 5.1% on a year-over-year basis. Analysts anticipate that LegalZoom.com, Inc. will post 0.25 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on LegalZoom.com from $11.00 to $12.00 and gave the company an "overweight" rating in a report on Monday, May 19th. JMP Securities restated 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 report on Friday, May 30th. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $9.30.

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.