Cerity Partners LLC Purchases 30,266 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

Cerity Partners LLC increased its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 190.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,179 shares of the company's stock after acquiring an additional 30,266 shares during the period. Cerity Partners LLC's holdings in LegalZoom.com were worth $398,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of LZ. Wealth Enhancement Advisory Services LLC bought a new stake in shares of LegalZoom.com during the first quarter valued at approximately $281,000. Ameriprise Financial Inc. lifted its stake in shares of LegalZoom.com by 30.0% during the fourth quarter. Ameriprise Financial Inc. now owns 322,510 shares of the company's stock valued at $2,422,000 after acquiring an additional 74,507 shares during the period. Nuveen Asset Management LLC raised its holdings in LegalZoom.com by 297.9% during the 4th quarter. Nuveen Asset Management LLC now owns 1,171,584 shares of the company's stock worth $8,799,000 after purchasing an additional 877,125 shares during the last quarter. Graham Capital Management L.P. bought a new stake in LegalZoom.com during the 4th quarter worth about $334,000. Finally, State of Tennessee Department of Treasury bought a new position in LegalZoom.com in the fourth quarter valued at approximately $270,000. Institutional investors own 81.99% of the company's stock.

Wall Street Analyst Weigh In

LZ has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on LegalZoom.com from $11.00 to $12.00 and gave the company an "overweight" rating in a report on Monday, May 19th. Wall Street Zen raised LegalZoom.com from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 30th. Morgan Stanley lifted their price objective on LegalZoom.com from $7.00 to $8.00 and gave the company an "underweight" rating in a report on Friday, May 9th. Finally, JMP Securities reissued a "market perform" rating on shares of LegalZoom.com in a research note on Thursday, May 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $9.08.

LegalZoom.com Stock Performance

Shares of LegalZoom.com stock opened at $9.08 on Friday. LegalZoom.com, Inc. has a 52-week low of $5.56 and a 52-week high of $10.60. The firm has a market cap of $1.65 billion, a PE ratio of 53.41, a P/E/G ratio of 3.87 and a beta of 1.23. The business's 50 day simple moving average is $9.03 and its 200 day simple moving average is $8.70.

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

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