Coastal Bridge Advisors LLC Has $10.66 Million Stake in LegalZoom.com, Inc. (NASDAQ:LZ)

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 holdings 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 Securities & Exchange Commission. The fund owned 1,237,635 shares of the company's stock after selling 44,375 shares during the quarter. LegalZoom.com makes up 2.7% of Coastal Bridge Advisors LLC's investment portfolio, making the stock its 7th biggest holding. Coastal Bridge Advisors LLC owned approximately 0.70% of LegalZoom.com worth $10,656,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC bought a new stake in shares of LegalZoom.com during the first quarter worth about $281,000. Ameriprise Financial Inc. increased its position 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 worth $2,422,000 after acquiring an additional 74,507 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of LegalZoom.com by 297.9% during the fourth quarter. Nuveen Asset Management LLC now owns 1,171,584 shares of the company's stock worth $8,799,000 after acquiring an additional 877,125 shares in the last quarter. Graham Capital Management L.P. bought a new stake in shares of LegalZoom.com during the fourth quarter worth about $334,000. Finally, State of Tennessee Department of Treasury bought a new position in shares of LegalZoom.com during the fourth quarter valued at about $270,000. Institutional investors own 81.99% of the company's stock.

Analysts Set New Price Targets

LZ has been the subject of several recent research reports. Morgan Stanley lifted their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an "underweight" rating in a research note on Friday, May 9th. 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 research note on Monday, May 19th. JMP Securities reiterated a "market perform" rating on shares of LegalZoom.com in a research note on Thursday, May 15th. Finally, Wall Street Zen upgraded shares of LegalZoom.com from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $9.30.

LegalZoom.com Price Performance

Shares of NASDAQ:LZ traded down $0.32 during trading on Friday, hitting $8.67. The company's stock had a trading volume of 2,263,180 shares, compared to its average volume of 1,392,753. The company has a 50-day moving average of $8.98 and a 200-day moving average of $8.74. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 51.00, a P/E/G ratio of 3.83 and a beta of 1.23. 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 earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. LegalZoom.com had a net margin of 4.39% and a return on equity of 28.00%. The company had revenue of $183.11 million during the quarter, compared to analyst estimates of $176.17 million. During the same period in the prior year, the firm posted $0.09 EPS. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, research analysts anticipate that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

About LegalZoom.com

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.