American Century Companies Inc. Acquires 108,064 Shares of LegalZoom.com, Inc. $LZ

Key Points

• American Century Companies Inc. increased its stake in LegalZoom by 33.8%, acquiring an additional 108,064 shares this quarter, bringing its total to 427,942 shares valued at approximately $3.68 million.
• In insider trading activities, Director John Francis Murphy sold 24,250 shares at an average price of $10.57, resulting in a 25.74% decrease in his holdings.
• LegalZoom reported quarterly earnings of $0.15 EPS, meeting analysts' expectations, with revenue increasing 8.5% year-over-year to $192.51 million.

American Century Companies Inc. boosted its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 33.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 427,942 shares of the company's stock after purchasing an additional 108,064 shares during the quarter. American Century Companies Inc. owned 0.24% of LegalZoom.com worth $3,685,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new position in LegalZoom.com during the 1st quarter valued at $281,000. Ameriprise Financial Inc. raised its stake in LegalZoom.com by 30.0% during the 4th quarter. Ameriprise Financial Inc. now owns 322,510 shares of the company's stock valued at $2,422,000 after purchasing an additional 74,507 shares during the last quarter. Nuveen Asset Management LLC raised 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 purchasing an additional 877,125 shares during the last quarter. Graham Capital Management L.P. acquired a new position in LegalZoom.com during the 4th quarter valued at $334,000. Finally, State of Tennessee Department of Treasury acquired a new position in shares of LegalZoom.com in the 4th quarter valued at $270,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of LegalZoom.com from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 30th. Citigroup increased their price objective on shares of LegalZoom.com from $10.00 to $12.00 and gave the company a "neutral" rating in a research note on Monday, August 25th. Barclays increased their price objective on shares of LegalZoom.com from $9.00 to $10.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 12th. Bank of America upgraded shares of LegalZoom.com from an "underperform" rating to a "buy" rating and increased their price objective for the company from $8.00 to $12.00 in a research note on Friday, August 8th. Finally, JMP Securities restated a "market perform" rating on shares of LegalZoom.com in a research note on Thursday, May 15th. Two 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 data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $10.50.

LegalZoom.com Trading Down 0.6%

Shares of LegalZoom.com stock traded down $0.07 during mid-day trading on Thursday, reaching $10.94. 1,571,037 shares of the stock were exchanged, compared to its average volume of 2,104,744. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 68.29, a price-to-earnings-growth ratio of 2.53 and a beta of 1.25. The firm has a 50-day simple moving average of $9.66 and a 200 day simple moving average of $9.00. LegalZoom.com, Inc. has a fifty-two week low of $6.16 and a fifty-two week high of $11.93.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.15 EPS for the quarter, hitting analysts' consensus estimates of $0.15. LegalZoom.com had a net margin of 4.07% and a return on equity of 20.36%. The firm had revenue of $192.51 million for the quarter, compared to analyst estimates of $182.49 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The company's revenue was up 8.5% on a year-over-year basis. LegalZoom.com has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts predict that LegalZoom.com, Inc. will post 0.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other LegalZoom.com news, CFO Noel Bertram Watson sold 27,319 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $11.07, for a total transaction of $302,421.33. Following the sale, the chief financial officer owned 1,676,426 shares of the company's stock, valued at $18,558,035.82. This represents a 1.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Francis Murphy sold 24,250 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $10.57, for a total transaction of $256,322.50. Following the sale, the director directly owned 69,953 shares in the company, valued at approximately $739,403.21. This represents a 25.74% 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 in the last 90 days. 5.90% of the stock is currently owned by insiders.

About LegalZoom.com

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.