D. E. Shaw & Co. Inc. Reduces Stock Holdings in LegalZoom.com, Inc. (NASDAQ:LZ)

D. E. Shaw & Co. Inc. lessened its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 44.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 553,029 shares of the company's stock after selling 444,398 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.32% of LegalZoom.com worth $4,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Mariner LLC grew its position in LegalZoom.com by 5.6% during the fourth quarter. Mariner LLC now owns 44,638 shares of the company's stock valued at $335,000 after buying an additional 2,348 shares during the period. Summit Trail Advisors LLC boosted its stake in shares of LegalZoom.com by 6.8% during the 4th quarter. Summit Trail Advisors LLC now owns 73,531 shares of the company's stock worth $552,000 after acquiring an additional 4,697 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of LegalZoom.com by 8.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 65,240 shares of the company's stock valued at $490,000 after acquiring an additional 5,045 shares during the period. Walleye Trading LLC increased its stake in shares of LegalZoom.com by 33.2% in the 4th quarter. Walleye Trading LLC now owns 21,090 shares of the company's stock valued at $158,000 after purchasing an additional 5,252 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in LegalZoom.com by 8.5% in the 4th quarter. MetLife Investment Management LLC now owns 85,168 shares of the company's stock worth $640,000 after purchasing an additional 6,669 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

LegalZoom.com Trading Down 2.9%

LZ stock traded down $0.28 during midday trading on Wednesday, reaching $9.43. The stock had a trading volume of 1,915,822 shares, compared to its average volume of 1,814,742. LegalZoom.com, Inc. has a 52-week low of $5.33 and a 52-week high of $10.60. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 72.54, a price-to-earnings-growth ratio of 1.73 and a beta of 1.14. The company's fifty day simple moving average is $8.18 and its 200 day simple moving average is $8.35.

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, hitting analysts' consensus estimates of $0.13. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The firm had revenue of $183.11 million for the quarter, compared to analyst estimates of $176.17 million. LegalZoom.com's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 earnings per share. Sell-side analysts predict that LegalZoom.com, Inc. will post 0.25 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on LZ. JPMorgan Chase & Co. raised their price objective on LegalZoom.com from $11.00 to $12.00 and gave the company an "overweight" rating in a report on Monday. Morgan Stanley boosted their price target on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an "underweight" rating in a report on Friday, May 9th. William Blair restated a "market perform" rating on shares of LegalZoom.com in a research report on Thursday, February 27th. JMP Securities reaffirmed a "market perform" rating on shares of LegalZoom.com in a report on Thursday, May 15th. Finally, Barclays lifted their target price on shares of LegalZoom.com from $8.00 to $9.00 and gave the company an "equal weight" rating in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, LegalZoom.com currently has an average rating of "Hold" and a consensus target price of $8.64.

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.