Counterpoint Mutual Funds LLC Takes $414,000 Position in LegalZoom.com, Inc. $LZ

Key Points

• Counterpoint Mutual Funds LLC acquired a new position in LegalZoom.com, Inc., purchasing 46,450 shares valued at approximately $414,000.
• Insider trading activity was noted, with CFO Noel Bertram Watson selling 27,319 shares, resulting in a 1.60% decrease in his position.
• LegalZoom.com reported $192.51 million in revenue for the last quarter, exceeding analysts' expectations and reflecting an 8.5% increase year-over-year.

Counterpoint Mutual Funds LLC purchased a new position in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 46,450 shares of the company's stock, valued at approximately $414,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of LZ. Wealth Enhancement Advisory Services LLC boosted its stake in shares of LegalZoom.com by 84.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 60,120 shares of the company's stock worth $548,000 after acquiring an additional 27,527 shares during the period. Pallas Capital Advisors LLC boosted its position in LegalZoom.com by 90.4% during the second quarter. Pallas Capital Advisors LLC now owns 27,311 shares of the company's stock worth $243,000 after purchasing an additional 12,965 shares during the period. Harbor Capital Advisors Inc. boosted its position in LegalZoom.com by 92.2% during the second quarter. Harbor Capital Advisors Inc. now owns 928,183 shares of the company's stock worth $8,270,000 after purchasing an additional 445,343 shares during the period. Strs Ohio acquired a new position in shares of LegalZoom.com in the first quarter valued at $552,000. Finally, Acadian Asset Management LLC bought a new position in shares of LegalZoom.com in the first quarter valued at about $6,360,000. Institutional investors own 81.99% of the company's stock.

Insider Activity

In other 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 completion of the transaction, the chief financial officer owned 1,676,426 shares of the company's stock, valued at approximately $18,558,035.82. The trade was a 1.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Francis Murphy sold 24,250 shares of the company'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 sale, the director owned 69,953 shares of the company's stock, valued at approximately $739,403.21. This represents a 25.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 109,859 shares of company stock worth $1,193,100. Insiders own 5.90% of the company's stock.

LegalZoom.com Stock Down 2.7%

LZ stock opened at $10.72 on Wednesday. The company's 50-day moving average price is $10.12 and its two-hundred day moving average price is $9.11. The firm has a market cap of $1.93 billion, a P/E ratio of 67.00, a P/E/G ratio of 3.38 and a beta of 1.25. LegalZoom.com, Inc. has a 12 month low of $6.26 and a 12 month 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, hitting analysts' consensus estimates of $0.15. The company had revenue of $192.51 million during the quarter, compared to the consensus estimate of $182.49 million. LegalZoom.com had a net margin of 4.07% and a return on equity of 20.36%. The firm'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 EPS. LegalZoom.com has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities analysts predict that LegalZoom.com, Inc. will post 0.25 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on LZ. Citigroup lifted their target price on shares of LegalZoom.com from $10.00 to $12.00 and gave the stock a "neutral" rating in a report on Monday, August 25th. JPMorgan Chase & Co. upped their target price on LegalZoom.com from $12.00 to $14.00 and gave the company an "overweight" rating in a research report on Monday, September 8th. Barclays lifted their price target on LegalZoom.com from $9.00 to $10.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th. Wall Street Zen lowered LegalZoom.com from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Finally, Bank of America raised LegalZoom.com from an "underperform" rating to a "buy" rating and lifted their target price for the stock from $8.00 to $12.00 in a 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's stock. According to MarketBeat.com, LegalZoom.com currently has an average rating of "Hold" and an average target price of $10.83.

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.

Want to see what other hedge funds are holding LZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LegalZoom.com, Inc. (NASDAQ:LZ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.