LegalZoom.com, Inc. (NASDAQ:LZ) Holdings Increased by Bank of America Corp DE

Bank of America Corp DE lifted its holdings in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 23.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 322,221 shares of the company's stock after acquiring an additional 61,405 shares during the period. Bank of America Corp DE owned approximately 0.19% of LegalZoom.com worth $2,420,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets acquired a new stake in shares of LegalZoom.com in the fourth quarter valued at about $1,122,000. Ameriprise Financial Inc. raised its stake in shares of LegalZoom.com by 30.0% during the fourth 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 period. Ararat Capital Management LP lifted its position in shares of LegalZoom.com by 26.6% during the fourth quarter. Ararat Capital Management LP now owns 3,248,482 shares of the company's stock worth $24,396,000 after purchasing an additional 682,678 shares in the last quarter. Utah Retirement Systems acquired a new position in shares of LegalZoom.com during the fourth quarter worth $477,000. Finally, PDT Partners LLC boosted its stake in shares of LegalZoom.com by 66.0% in the fourth quarter. PDT Partners LLC now owns 291,452 shares of the company's stock valued at $2,189,000 after purchasing an additional 115,849 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Barclays lifted their price target on shares of LegalZoom.com from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 27th. William Blair reaffirmed a "market perform" rating on shares of LegalZoom.com in a research report on Thursday, February 27th. JMP Securities restated a "market perform" rating on shares of LegalZoom.com in a report on Thursday, May 15th. Morgan Stanley upped their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an "underweight" rating in a research note on Friday, May 9th. Finally, Wall Street Zen raised LegalZoom.com from a "buy" rating to a "strong-buy" rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $8.64.

LegalZoom.com Price Performance

Shares of NASDAQ LZ traded up $0.08 during mid-day trading on Tuesday, hitting $9.18. The company had a trading volume of 1,893,281 shares, compared to its average volume of 1,783,496. LegalZoom.com, Inc. has a 12 month low of $5.33 and a 12 month high of $10.60. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 70.62, a PEG ratio of 1.73 and a beta of 1.14. The firm's 50 day simple moving average is $8.17 and its two-hundred day simple moving average is $8.43.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $183.11 million during the quarter, compared to the consensus estimate of $176.17 million. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. Equities analysts forecast that LegalZoom.com, Inc. will post 0.25 earnings per share for the current 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.