Caxton Associates LLP Buys Shares of 44,901 LegalZoom.com, Inc. $LZ

Key Points

• Caxton Associates LLP acquired a new stake in LegalZoom.com, purchasing approximately $387,000 worth of shares in the first quarter.
• Insider sales were notable, with Nicole Miller selling 25,154 shares and John Francis Murphy selling 24,250 shares, indicating a potential decrease in insider confidence.
• Analysts are optimistic about LegalZoom, with multiple firms raising their price targets and Bank of America upgrading the stock to a "buy" rating.

Caxton Associates LLP acquired a new stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 44,901 shares of the company's stock, valued at approximately $387,000.

Several other large investors have also bought and sold shares of the stock. Jacobs Levy Equity Management Inc. lifted its stake in LegalZoom.com by 8.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,186,816 shares of the company's stock valued at $18,828,000 after acquiring an additional 166,385 shares in the last quarter. Nuveen LLC bought a new position in LegalZoom.com during the 1st quarter valued at $18,585,000. Goldman Sachs Group Inc. lifted its stake in LegalZoom.com by 9.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,313,429 shares of the company's stock valued at $11,309,000 after acquiring an additional 113,769 shares in the last quarter. Driehaus Capital Management LLC bought a new position in LegalZoom.com during the 1st quarter valued at $10,822,000. Finally, Cubist Systematic Strategies LLC lifted its stake in LegalZoom.com by 169.1% during the 1st quarter. Cubist Systematic Strategies LLC now owns 1,190,167 shares of the company's stock valued at $10,247,000 after acquiring an additional 747,960 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Noel Bertram Watson sold 27,319 shares of LegalZoom.com stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $11.07, for a total value of $302,421.33. Following the completion of the sale, the chief financial officer owned 1,676,426 shares of the company's stock, valued at approximately $18,558,035.82. This trade represents a 1.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Francis Murphy sold 24,250 shares of LegalZoom.com stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $10.57, for a total value of $256,322.50. Following the completion of the sale, the director directly owned 69,953 shares of the company's stock, valued at approximately $739,403.21. This trade represents a 25.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,859 shares of company stock valued at $1,193,100. 5.90% of the stock is owned by insiders.

Analysts Set New Price Targets

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

LegalZoom.com Stock Up 4.0%

LZ traded up $0.43 during trading hours on Thursday, hitting $11.10. The stock had a trading volume of 2,165,343 shares, compared to its average volume of 2,261,752. The company's fifty day simple moving average is $10.00 and its 200 day simple moving average is $9.10. LegalZoom.com, Inc. has a 1 year low of $6.26 and a 1 year high of $11.93. The stock has a market cap of $2.00 billion, a PE ratio of 69.38, a price-to-earnings-growth ratio of 3.27 and a beta of 1.25.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. LegalZoom.com had a return on equity of 20.36% and a net margin of 4.07%.The company had revenue of $192.51 million during the quarter, compared to analyst estimates of $182.49 million. During the same quarter last year, the firm posted $0.10 EPS. The firm's revenue for the quarter 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. As a group, equities analysts expect that LegalZoom.com, Inc. will post 0.25 EPS for the current year.

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.