LegalZoom.com, Inc. (NASDAQ:LZ) Position Decreased by Coastal Bridge Advisors LLC

Key Points

• Coastal Bridge Advisors LLC reduced its holdings in LegalZoom.com, Inc. by 3.5%, owning 1,237,635 shares post-sale, which comprises about 2.7% of its portfolio.
• Analysts have mixed views on LegalZoom.com, with a price target increase from Morgan Stanley and JPMorgan Chase, while Wall Street Zen upgraded the stock to a "strong-buy" rating.
• The company's recent earnings report showed a revenue of $183.11 million for the quarter, surpassing analyst expectations and reflecting a year-over-year growth of 5.1%.

Coastal Bridge Advisors LLC decreased its stake in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,237,635 shares of the company's stock after selling 44,375 shares during the period. LegalZoom.com accounts for about 2.7% of Coastal Bridge Advisors LLC's holdings, making the stock its 7th biggest position. Coastal Bridge Advisors LLC owned about 0.70% of LegalZoom.com worth $10,656,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. State of Wyoming grew its holdings in shares of LegalZoom.com by 42.1% during the 4th quarter. State of Wyoming now owns 8,347 shares of the company's stock valued at $63,000 after purchasing an additional 2,475 shares during the last quarter. GAMMA Investing LLC grew its holdings in LegalZoom.com by 2,750.6% in the 1st quarter. GAMMA Investing LLC now owns 9,635 shares of the company's stock worth $83,000 after acquiring an additional 9,297 shares during the last quarter. Quantessence Capital LLC bought a new stake in LegalZoom.com in the 4th quarter worth $78,000. Sei Investments Co. bought a new stake in LegalZoom.com in the 4th quarter worth $83,000. Finally, Bryce Point Capital LLC bought a new stake in LegalZoom.com in the 1st quarter worth $103,000. Institutional investors own 81.99% of the company's stock.

LegalZoom.com Stock Up 1.2%

Shares of LegalZoom.com stock traded up $0.11 during midday trading on Monday, hitting $8.78. The company had a trading volume of 927,220 shares, compared to its average volume of 1,956,644. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 51.62, a PEG ratio of 3.70 and a beta of 1.23. The company has a fifty day simple moving average of $8.98 and a 200 day simple moving average of $8.75. LegalZoom.com, Inc. has a 12-month low of $5.56 and a 12-month high of $10.60.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.13. LegalZoom.com had a net margin of 4.39% and a return on equity of 28.00%. The firm had revenue of $183.11 million for the quarter, compared to analysts' expectations of $176.17 million. During the same quarter last year, the company earned $0.09 EPS. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts expect that LegalZoom.com, Inc. will post 0.25 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wall Street Zen raised shares of LegalZoom.com from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 30th. Morgan Stanley lifted their price target on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an "underweight" rating in a research report on Friday, May 9th. JMP Securities reaffirmed a "market perform" rating on shares of LegalZoom.com in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. lifted their target price on shares of LegalZoom.com from $11.00 to $12.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $9.30.

LegalZoom.com 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.