LegalZoom.com, Inc. $LZ Stock Position Lowered by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management cut its LegalZoom position by 51.8% in the third quarter, selling 230,087 shares and retaining 213,973 shares. Institutional investors and hedge funds collectively own 81.99% of the stock.
• LegalZoom reported quarterly EPS of $0.16, exceeding estimates by $0.01, while revenue rose 6.6% year over year to $205.29 million. The stock recently traded at $7.06, near analysts’ average price target of $7.30.
• Analyst sentiment remains cautious, with a consensus rating of “Reduce” based on six Hold ratings and two Sell ratings. Insiders have also sold 577,475 shares worth approximately $3.38 million over the past 90 days.

Robeco Institutional Asset Management B.V. reduced its position in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 51.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 213,973 shares of the company's stock after selling 230,087 shares during the period. Robeco Institutional Asset Management B.V. owned 0.12% of LegalZoom.com worth $1,200,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in LZ. Bank of America Corp DE increased its position in LegalZoom.com by 187.4% during the first quarter. Bank of America Corp DE now owns 2,509,891 shares of the company's stock worth $14,231,000 after buying an additional 1,636,487 shares during the period. Principal Financial Group Inc. lifted its stake in LegalZoom.com by 579.1% in the first quarter. Principal Financial Group Inc. now owns 1,010,914 shares of the company's stock valued at $5,732,000 after buying an additional 862,045 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of LegalZoom.com in the first quarter valued at approximately $2,918,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of LegalZoom.com in the first quarter valued at approximately $1,923,000. Finally, SEB Asset Management AB acquired a new stake in shares of LegalZoom.com in the first quarter valued at approximately $1,881,000. 81.99% of the stock is owned by institutional investors and hedge funds.

LegalZoom.com Trading Up 1.0%

NASDAQ:LZ opened at $7.06 on Tuesday. LegalZoom.com, Inc. has a 12-month low of $5.22 and a 12-month high of $12.40. The stock's 50 day simple moving average is $6.03 and its 200-day simple moving average is $6.65. The firm has a market cap of $1.21 billion, a P/E ratio of 78.44, a PEG ratio of 1.31 and a beta of 1.20.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.01. LegalZoom.com had a return on equity of 15.83% and a net margin of 2.13%. The firm had revenue of $205.29 million during the quarter, compared to the consensus estimate of $205.83 million. During the same period last year, the company earned $0.15 earnings per share. The company's revenue for the quarter was up 6.6% on a year-over-year basis. Research analysts forecast that LegalZoom.com, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LZ shares. Weiss Ratings upgraded shares of LegalZoom.com from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, October 14th. Wall Street Zen upgraded shares of LegalZoom.com from a "hold" rating to a "buy" rating in a research report on Saturday, September 26th. William Blair cut shares of LegalZoom.com from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $7.00 price target (down from $8.00) on shares of LegalZoom.com in a research note on Thursday, August 6th. Six analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $7.30.

Insider Transactions at LegalZoom.com

In other LegalZoom.com news, CFO Noel Watson sold 83,629 shares of the business's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $5.83, for a total transaction of $487,557.07. Following the transaction, the chief financial officer owned 1,407,801 shares in the company, valued at approximately $8,207,479.83. The trade was a 5.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nicole Miller sold 33,479 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $5.51, for a total value of $184,469.29. Following the transaction, the insider owned 943,453 shares in the company, valued at $5,198,426.03. The trade was a 3.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last 90 days, insiders sold 577,475 shares of company stock valued at $3,375,197. 7.40% of the stock is owned by insiders.

About LegalZoom.com

LegalZoom.com, Inc is an online platform that provides legal, compliance and tax-related products and services to individuals, families and small businesses. The company's platform is designed to make common legal and administrative processes more accessible through digital tools, guided services and access to independent professionals.

LegalZoom's offerings include business formation services for limited liability companies and corporations, registered-agent services, annual compliance support, business licensing and trademark services.

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