1,256,917 Shares in LegalZoom.com, Inc. $LZ Bought by Driehaus Capital Management LLC

Key Points

• Driehaus Capital Management LLC has acquired 1,256,917 shares of LegalZoom.com, valued at approximately $10.8 million, increasing its ownership stake to 0.71% as of the latest SEC filing.
• LegalZoom.com has experienced significant increases in institutional investments, with 81.99% of the stock now owned by hedge funds and institutional investors.
• Equities analysts have shown increased optimism for LegalZoom.com, with JPMorgan Chase raising their price target from $11.00 to $12.00 and several analysts upgrading their ratings.

Driehaus Capital Management LLC bought a new position in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,256,917 shares of the company's stock, valued at approximately $10,822,000. Driehaus Capital Management LLC owned approximately 0.71% of LegalZoom.com at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Quantbot Technologies LP acquired a new stake in LegalZoom.com in the first quarter valued at $29,000. State of Wyoming increased its holdings in shares of LegalZoom.com by 42.1% in the 4th quarter. State of Wyoming now owns 8,347 shares of the company's stock valued at $63,000 after purchasing an additional 2,475 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of LegalZoom.com by 2,750.6% in the first quarter. GAMMA Investing LLC now owns 9,635 shares of the company's stock valued at $83,000 after purchasing an additional 9,297 shares during the period. Jefferies Financial Group Inc. purchased a new stake in LegalZoom.com during the first quarter worth about $91,000. Finally, Bryce Point Capital LLC purchased a new stake in LegalZoom.com during the first quarter worth about $103,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

LegalZoom.com Stock Down 1.2%

Shares of LZ stock traded down $0.14 during trading hours on Thursday, hitting $10.87. 1,719,149 shares of the company were exchanged, compared to its average volume of 2,105,924. The firm has a market cap of $1.96 billion, a PE ratio of 67.91, a PEG ratio of 2.53 and a beta of 1.25. The firm has a fifty day moving average of $9.66 and a 200 day moving average of $9.00. LegalZoom.com, Inc. has a 1 year low of $6.16 and a 1 year high of $11.93.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.15 earnings per share for the quarter, meeting analysts' consensus estimates of $0.15. The firm had revenue of $192.51 million for 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 firm's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 earnings per share. LegalZoom.com has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts expect that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

Insider Buying and Selling at LegalZoom.com

In other news, CFO Noel Bertram Watson sold 27,319 shares of the firm's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $11.07, for a total value of $302,421.33. Following the transaction, the chief financial officer owned 1,676,426 shares of the company's stock, valued at approximately $18,558,035.82. This trade represents a 1.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicole Miller sold 25,154 shares of LegalZoom.com stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $10.82, for a total transaction of $272,166.28. Following the transaction, the insider owned 960,032 shares in the company, valued at $10,387,546.24. The trade was a 2.55% 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 valued at $1,193,100 over the last ninety days. Corporate insiders own 5.90% of the company's stock.

Analyst Ratings Changes

LZ has been the topic of several research analyst reports. Bank of America raised LegalZoom.com from an "underperform" rating to a "buy" rating and boosted their price target for the stock from $8.00 to $12.00 in a research note on Friday, August 8th. Morgan Stanley raised their price target 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 boosted their price objective on shares of LegalZoom.com from $9.00 to $10.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 12th. JMP Securities restated a "market perform" rating on shares of LegalZoom.com in a research report on Thursday, May 15th. Finally, Citigroup upped their price target on shares of LegalZoom.com from $10.00 to $12.00 and gave the company a "neutral" rating in a report on Monday, August 25th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, LegalZoom.com currently has an average rating of "Hold" and a consensus price target of $10.50.

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.