SG Americas Securities LLC trimmed its holdings in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 82.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 94,670 shares of the company's stock after selling 439,441 shares during the quarter. SG Americas Securities LLC owned 0.05% of LegalZoom.com worth $537,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC boosted its stake in shares of LegalZoom.com by 2.8% in the second quarter. EP Wealth Advisors LLC now owns 41,352 shares of the company's stock worth $368,000 after buying an additional 1,139 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in LegalZoom.com by 37.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 5,179 shares of the company's stock worth $51,000 after purchasing an additional 1,403 shares in the last quarter. Prelude Capital Management LLC grew its stake in shares of LegalZoom.com by 11.6% during the 3rd quarter. Prelude Capital Management LLC now owns 14,185 shares of the company's stock worth $147,000 after purchasing an additional 1,470 shares during the period. Chase Investment Counsel Corp increased its holdings in shares of LegalZoom.com by 12.3% during the 4th quarter. Chase Investment Counsel Corp now owns 13,601 shares of the company's stock valued at $135,000 after purchasing an additional 1,489 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of LegalZoom.com by 2.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 59,862 shares of the company's stock valued at $594,000 after purchasing an additional 1,705 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
LZ has been the subject of a number of analyst reports. Citigroup decreased their price objective on shares of LegalZoom.com from $8.50 to $7.50 and set a "neutral" rating for the company in a research report on Friday, May 22nd. Wall Street Zen lowered LegalZoom.com from a "buy" rating to a "hold" rating in a report on Saturday. JPMorgan Chase & Co. decreased their target price on LegalZoom.com from $11.00 to $8.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 24th. Weiss Ratings reissued a "sell (d+)" rating on shares of LegalZoom.com in a report on Thursday, July 2nd. Finally, UBS Group dropped their target price on shares of LegalZoom.com from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $8.25.
View Our Latest Stock Analysis on LZ
Insiders Place Their Bets
In other news, CEO Jeffrey M. Stibel acquired 125,000 shares of the company's stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $6.15 per share, with a total value of $768,750.00. Following the completion of the acquisition, the chief executive officer owned 2,955,609 shares of the company's stock, valued at $18,176,995.35. This trade represents a 4.42% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicole Miller sold 19,199 shares of LegalZoom.com stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $6.58, for a total transaction of $126,329.42. Following the transaction, the insider directly owned 1,119,222 shares in the company, valued at $7,364,480.76. This trade represents a 1.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 5.90% of the company's stock.
LegalZoom.com Stock Up 4.1%
Shares of NASDAQ LZ opened at $7.33 on Wednesday. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 122.19, a price-to-earnings-growth ratio of 1.24 and a beta of 1.31. LegalZoom.com, Inc. has a 52 week low of $5.22 and a 52 week high of $12.40. The firm has a 50-day simple moving average of $6.18 and a 200-day simple moving average of $7.10.
LegalZoom.com (NASDAQ:LZ - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). The business had revenue of $206.78 million during the quarter, compared to analyst estimates of $202.14 million. LegalZoom.com had a net margin of 1.46% and a return on equity of 11.53%. The firm's revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.13 EPS. As a group, equities research analysts expect that LegalZoom.com, Inc. will post 0.32 EPS for the current year.
LegalZoom.com Company Profile
(
Free Report)
LegalZoom.com, Inc NASDAQ: LZ operates as a leading online legal technology company that provides a broad range of legal and business services to individuals, families and small businesses. Through its digital platform, the company offers customized legal documents and filing services, including business formation (LLCs, corporations and nonprofits), estate planning (wills and trusts), intellectual property protection (trademarks and copyrights), and ongoing compliance support. LegalZoom also connects customers with independent attorneys for consultations on matters such as family law, immigration and real estate.
Founded in 2001 by entrepreneurs Brian Lee, Brian P.
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