Ieq Capital LLC Grows Stock Position in LegalZoom.com, Inc. $LZ

Key Points

• Ieq Capital LLC has increased its holdings in LegalZoom.com, Inc. by 73.6%, owning approximately 232,350 shares worth $2,001,000 as of the end of the first quarter.
• Insiders sold a total of 109,859 shares valued at $1,193,100 over the last 90 days, indicating a 25.74% decrease in ownership from Director John Francis Murphy.
• Wall Street analysts have raised their price targets for LegalZoom.com, with Bank of America upgrading the stock from 'underperform' to 'buy' and setting a price target of $12.00.

Ieq Capital LLC raised its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 73.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 232,350 shares of the company's stock after purchasing an additional 98,470 shares during the period. Ieq Capital LLC owned 0.13% of LegalZoom.com worth $2,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LZ. Brighton Jones LLC purchased a new stake in shares of LegalZoom.com in the fourth quarter worth approximately $185,000. Wells Fargo & Company MN raised its holdings in shares of LegalZoom.com by 34.1% in the fourth quarter. Wells Fargo & Company MN now owns 59,884 shares of the company's stock worth $450,000 after buying an additional 15,232 shares during the period. Mariner LLC raised its holdings in shares of LegalZoom.com by 5.6% in the fourth quarter. Mariner LLC now owns 44,638 shares of the company's stock worth $335,000 after buying an additional 2,348 shares during the period. Marshall Wace LLP purchased a new stake in shares of LegalZoom.com in the fourth quarter worth approximately $173,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of LegalZoom.com by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,396,523 shares of the company's stock worth $10,489,000 after buying an additional 32,075 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LZ has been the topic of several recent analyst reports. Bank of America upgraded LegalZoom.com from an "underperform" rating to a "buy" rating and increased their price target for the stock from $8.00 to $12.00 in a report on Friday, August 8th. Barclays increased their price objective on LegalZoom.com from $9.00 to $10.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 12th. Morgan Stanley increased their price objective on LegalZoom.com from $7.00 to $8.00 and gave the stock an "underweight" rating in a research note on Friday, May 9th. JMP Securities reissued a "market perform" rating on shares of LegalZoom.com in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. increased their price objective on LegalZoom.com from $11.00 to $12.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, LegalZoom.com currently has a consensus rating of "Hold" and an average target price of $10.50.

Insider Buying and Selling

In related news, CFO Noel Bertram Watson sold 27,319 shares of LegalZoom.com stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $11.07, for a total value of $302,421.33. Following the sale, the chief financial officer directly 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nicole Miller sold 25,154 shares of LegalZoom.com stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $10.82, for a total value of $272,166.28. Following the completion of the sale, the insider owned 960,032 shares in the company, valued at approximately $10,387,546.24. The trade was a 2.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 109,859 shares of company stock worth $1,193,100. Insiders own 5.90% of the company's stock.

LegalZoom.com Price Performance

LZ stock traded down $0.53 during trading on Friday, hitting $10.32. The stock had a trading volume of 2,412,866 shares, compared to its average volume of 2,914,495. LegalZoom.com, Inc. has a twelve month low of $6.16 and a twelve month high of $11.93. The stock has a market capitalization of $1.86 billion, a P/E ratio of 64.50, a PEG ratio of 2.36 and a beta of 1.25. The company's 50-day moving average price is $9.73 and its two-hundred day moving average price is $9.02.

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

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.