LegalZoom.com, Inc. $LZ Shares Sold by Charles Schwab Investment Management Inc.

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. decreased its position in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,174,743 shares of the company's stock after selling 58,004 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.67% of LegalZoom.com worth $10,115,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen Asset Management LLC lifted its stake 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 valued at $8,799,000 after acquiring an additional 877,125 shares in the last quarter. Ararat Capital Management LP boosted its position in shares of LegalZoom.com by 26.6% during the 4th quarter. Ararat Capital Management LP now owns 3,248,482 shares of the company's stock valued at $24,396,000 after acquiring an additional 682,678 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of LegalZoom.com during the 1st quarter valued at about $4,157,000. Jacobs Levy Equity Management Inc. lifted its position in LegalZoom.com by 30.4% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,020,431 shares of the company's stock worth $15,173,000 after buying an additional 471,338 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in LegalZoom.com in the 4th quarter worth approximately $3,321,000. 81.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JMP Securities reissued a "market perform" rating on shares of LegalZoom.com in a research note on Thursday, May 15th. Barclays upped their price objective 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 raised LegalZoom.com from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 30th. Morgan Stanley raised their price target on LegalZoom.com from $7.00 to $8.00 and gave the company an "underweight" rating in a report on Friday, May 9th. Finally, Citigroup raised their price objective on LegalZoom.com from $10.00 to $12.00 and gave the company a "neutral" rating in a research note on Monday. 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 stock. According to data from MarketBeat, LegalZoom.com presently has an average rating of "Hold" and a consensus price target of $10.50.

LegalZoom.com Trading Up 1.2%

Shares of LZ traded up $0.13 during trading hours on Wednesday, hitting $11.18. The company had a trading volume of 1,818,373 shares, compared to its average volume of 3,161,708. The company has a market capitalization of $2.02 billion, a PE ratio of 69.88, a price-to-earnings-growth ratio of 2.53 and a beta of 1.23. LegalZoom.com, Inc. has a one year low of $6.16 and a one year high of $11.93. The company's fifty day moving average price is $9.42 and its two-hundred day moving average price is $8.94.

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

Insider Buying and Selling

In related news, CFO Noel Bertram Watson sold 27,319 shares of the business's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $11.07, for a total transaction of $302,421.33. Following the transaction, the chief financial officer directly owned 1,676,426 shares in the company, valued at $18,558,035.82. The trade was a 1.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Francis Murphy sold 24,250 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $10.57, for a total value of $256,322.50. Following the transaction, the director owned 69,953 shares in the company, valued at approximately $739,403.21. This trade represents a 25.74% decrease in their ownership of the stock. 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 ninety days. 5.90% of the stock is owned by insiders.

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.