Harbor Capital Advisors Inc. Purchases 445,343 Shares of LegalZoom.com, Inc. $LZ

Key Points

• Harbor Capital Advisors Inc. increased its stake in LegalZoom.com by 92.2% during Q2, owning 928,183 shares valued at approximately $8.27 million.
• LegalZoom.com reported a revenue of $192.51 million for the last quarter, surpassing analysts' expectations and marking an 8.5% year-over-year increase.
• Insider transactions included the sales of over 52,000 shares by executives, indicating a decrease in their ownership positions, while institutional ownership remains high at 81.99%.

Harbor Capital Advisors Inc. lifted its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 92.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 928,183 shares of the company's stock after purchasing an additional 445,343 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.51% of LegalZoom.com worth $8,270,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in LegalZoom.com during the 1st quarter worth $29,000. State of Wyoming lifted its stake in shares of LegalZoom.com by 42.1% during the fourth quarter. State of Wyoming now owns 8,347 shares of the company's stock valued at $63,000 after acquiring an additional 2,475 shares during the period. GAMMA Investing LLC lifted its stake in shares of LegalZoom.com by 2,750.6% during the first quarter. GAMMA Investing LLC now owns 9,635 shares of the company's stock valued at $83,000 after acquiring an additional 9,297 shares during the period. Jefferies Financial Group Inc. acquired a new position in LegalZoom.com during the 1st quarter valued at about $91,000. Finally, Bryce Point Capital LLC acquired a new position in LegalZoom.com during the 1st quarter valued at about $103,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Activity at LegalZoom.com

In related news, CFO Noel Bertram Watson sold 27,319 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $18,558,035.82. This represents a 1.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Francis Murphy sold 24,250 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $10.57, for a total value of $256,322.50. Following the completion of the transaction, the director directly owned 69,953 shares in the company, valued at $739,403.21. The trade was a 25.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,859 shares of company stock worth $1,193,100. Insiders own 5.90% of the company's stock.

Wall Street Analyst Weigh In

LZ has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on LegalZoom.com from $12.00 to $14.00 and gave the company an "overweight" rating in a research note on Monday, September 8th. Bank of America raised LegalZoom.com from an "underperform" rating to a "buy" rating and increased their target price for the company from $8.00 to $12.00 in a research note on Friday, August 8th. Citigroup increased their price target on shares of LegalZoom.com from $10.00 to $12.00 and gave the company a "neutral" rating in a research report on Monday, August 25th. Barclays increased their price target on shares of LegalZoom.com from $9.00 to $10.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 12th. Finally, Wall Street Zen downgraded shares of LegalZoom.com from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $10.83.

LegalZoom.com Stock Down 1.4%

Shares of LZ stock traded down $0.15 during trading on Friday, reaching $10.95. 3,490,451 shares of the company's stock were exchanged, compared to its average volume of 2,273,681. The stock has a market capitalization of $1.97 billion, a PE ratio of 68.44, a PEG ratio of 3.40 and a beta of 1.25. LegalZoom.com, Inc. has a twelve month low of $6.26 and a twelve month high of $11.93. The firm's fifty day moving average price is $10.04 and its 200-day moving average price is $9.11.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.15 EPS for the quarter, meeting the consensus estimate 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 the consensus estimate of $182.49 million. During the same period in the previous year, the company earned $0.10 earnings per share. The company's quarterly 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. As a group, analysts anticipate that LegalZoom.com, Inc. will post 0.25 EPS for the current fiscal year.

LegalZoom.com Company 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.