Charles Schwab Investment Management Inc. Decreases Stock Holdings in LegalZoom.com, Inc. $LZ

Key Points

• Charles Schwab Investment Management Inc. reduced its **stake** in LegalZoom.com by **4.7%** by selling **58,004 shares**, bringing its total ownership to about **1,174,743 shares** valued at **$10.1 million**.
• LegalZoom.com has seen a mix of **analyst ratings**, with Bank of America upgrading it from **"underperform" to "buy"**, raising the price target from **$8** to **$12**.
• Despite recent insider selling, **institutional investors** still own **81.99%** of LegalZoom.com's stock, with recent trades by insiders involving significant share sales amounting to a total of **64,404 shares** worth nearly **$690,639**.

Charles Schwab Investment Management Inc. trimmed its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 4.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 1,174,743 shares of the company's stock after selling 58,004 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.67% of LegalZoom.com worth $10,115,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Blueshift Asset Management LLC bought a new stake in shares of LegalZoom.com during the 1st quarter valued at $121,000. Jefferies Financial Group Inc. bought a new stake in shares of LegalZoom.com during the 1st quarter valued at $91,000. US Bancorp DE lifted its position in shares of LegalZoom.com by 30.6% during the 1st quarter. US Bancorp DE now owns 42,639 shares of the company's stock valued at $367,000 after acquiring an additional 9,981 shares during the period. Arkadios Wealth Advisors bought a new stake in shares of LegalZoom.com during the 1st quarter valued at $603,000. Finally, Federated Hermes Inc. lifted its position in shares of LegalZoom.com by 1,316.9% during the 1st quarter. Federated Hermes Inc. now owns 34,204 shares of the company's stock valued at $294,000 after acquiring an additional 31,790 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Insider Activity at LegalZoom.com

In related news, insider Nicole Miller sold 25,154 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $10.82, for a total transaction of $272,166.28. Following the sale, the insider owned 960,032 shares in the company, valued at $10,387,546.24. This represents a 2.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Noel Bertram Watson sold 27,319 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $11.07, for a total value of $302,421.33. Following the sale, the chief financial officer owned 1,676,426 shares in the company, valued at approximately $18,558,035.82. The trade was a 1.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,859 shares of company stock worth $1,193,100 in the last 90 days. Corporate insiders own 5.90% of the company's stock.

LegalZoom.com Trading Down 0.6%

LZ traded down $0.07 on Friday, reaching $11.08. The stock had a trading volume of 1,727,589 shares, compared to its average volume of 3,141,987. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 69.25, a price-to-earnings-growth ratio of 2.53 and a beta of 1.23. The firm has a 50-day moving average of $9.52 and a 200-day moving average of $8.96. LegalZoom.com, Inc. has a fifty-two week low of $6.16 and a fifty-two week high of $11.93.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. The company had revenue of $192.51 million during the quarter, compared to analysts' expectations of $182.49 million. LegalZoom.com had a return on equity of 20.36% and a net margin of 4.07%.The business's quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 earnings per share. LegalZoom.com has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts anticipate that LegalZoom.com, Inc. will post 0.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LZ has been the subject of a number of recent analyst reports. Morgan Stanley upped their target price on LegalZoom.com from $7.00 to $8.00 and gave the company an "underweight" rating in a research report on Friday, May 9th. Barclays upped their price objective on LegalZoom.com from $9.00 to $10.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 12th. Wall Street Zen upgraded LegalZoom.com from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 30th. Bank of America upgraded LegalZoom.com from an "underperform" rating to a "buy" rating and upped their price objective for the stock from $8.00 to $12.00 in a research report on Friday, August 8th. Finally, JPMorgan Chase & Co. upped their price objective on LegalZoom.com from $11.00 to $12.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $10.50.

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.