Bank of America Corp DE Acquires 61,405 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

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

Several other institutional investors also recently bought and sold shares of the stock. Mariner LLC grew its position in shares of LegalZoom.com by 5.6% in the fourth quarter. Mariner LLC now owns 44,638 shares of the company's stock valued at $335,000 after purchasing an additional 2,348 shares during the last quarter. Summit Trail Advisors LLC grew its position in shares of LegalZoom.com by 6.8% in the fourth quarter. Summit Trail Advisors LLC now owns 73,531 shares of the company's stock valued at $552,000 after purchasing an additional 4,697 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of LegalZoom.com by 8.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 65,240 shares of the company's stock valued at $490,000 after purchasing an additional 5,045 shares during the last quarter. Walleye Trading LLC grew its position in shares of LegalZoom.com by 33.2% in the fourth quarter. Walleye Trading LLC now owns 21,090 shares of the company's stock valued at $158,000 after purchasing an additional 5,252 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of LegalZoom.com by 8.5% in the fourth quarter. MetLife Investment Management LLC now owns 85,168 shares of the company's stock valued at $640,000 after purchasing an additional 6,669 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

LegalZoom.com Stock Down 0.1%

Shares of LZ traded down $0.01 during midday trading on Thursday, hitting $9.20. The company's stock had a trading volume of 1,437,215 shares, compared to its average volume of 1,782,090. LegalZoom.com, Inc. has a one year low of $5.33 and a one year high of $10.60. The company's fifty day simple moving average is $8.19 and its two-hundred day simple moving average is $8.45. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 70.77, a price-to-earnings-growth ratio of 1.73 and a beta of 1.25.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $176.17 million. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 EPS. On average, research analysts predict that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on LZ. JPMorgan Chase & Co. raised their price target on LegalZoom.com from $11.00 to $12.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. William Blair reiterated a "market perform" rating on shares of LegalZoom.com in a research note on Thursday, February 27th. JMP Securities restated a "market perform" rating on shares of LegalZoom.com in a research report on Thursday, May 15th. Barclays boosted their price objective on shares of LegalZoom.com from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. Finally, Wall Street Zen upgraded shares of LegalZoom.com from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $8.64.

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.