Kazazian Asset Management LLC Has $2.11 Million Stake in LegalZoom.com, Inc. (NASDAQ:LZ)

Key Points

• Kazazian Asset Management LLC reduced its stake in LegalZoom.com by 45.5%, selling 204,500 shares, leaving them with 244,838 shares, which represents 1.7% of their total holdings.
• Wall Street analysts have a consensus rating of "Hold" on LegalZoom.com, with price targets ranging from a low of $7.00 to a high of $12.00, reflecting differing outlooks on the company's performance.
• LegalZoom.com reported $183.11 million in revenue last quarter, exceeding estimates, and had earnings per share (EPS) of $0.13, meeting consensus expectations.

Kazazian Asset Management LLC trimmed its position in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 45.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 244,838 shares of the company's stock after selling 204,500 shares during the quarter. LegalZoom.com comprises 1.7% of Kazazian Asset Management LLC's holdings, making the stock its 12th largest position. Kazazian Asset Management LLC owned approximately 0.14% of LegalZoom.com worth $2,108,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. State of Wyoming boosted its stake in LegalZoom.com by 42.1% during the 4th quarter. State of Wyoming now owns 8,347 shares of the company's stock worth $63,000 after purchasing an additional 2,475 shares during the last quarter. GAMMA Investing LLC raised its position in shares of LegalZoom.com by 2,750.6% during the 1st quarter. GAMMA Investing LLC now owns 9,635 shares of the company's stock valued at $83,000 after buying an additional 9,297 shares during the period. Quantessence Capital LLC acquired a new position in LegalZoom.com in the fourth quarter valued at approximately $78,000. Jefferies Financial Group Inc. acquired a new stake in LegalZoom.com during the first quarter worth $91,000. Finally, Sei Investments Co. acquired a new stake in LegalZoom.com during the fourth quarter worth $83,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LZ. Morgan Stanley increased their price target on 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 research report on Thursday, May 15th. JPMorgan Chase & Co. boosted their price objective on shares of LegalZoom.com from $11.00 to $12.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. 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 analyst has rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $9.30.

LegalZoom.com Price Performance

NASDAQ:LZ traded up $0.09 during midday trading on Monday, reaching $8.76. 1,738,194 shares of the company traded hands, compared to its average volume of 1,505,912. LegalZoom.com, Inc. has a twelve month low of $5.56 and a twelve month high of $10.60. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 54.19, a price-to-earnings-growth ratio of 3.70 and a beta of 1.23. The company has a fifty day moving average price of $8.98 and a 200 day moving average price of $8.75.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.13 EPS for the quarter, hitting analysts' consensus estimates of $0.13. The company had revenue of $183.11 million for the quarter, compared to the consensus estimate of $176.17 million. LegalZoom.com had a return on equity of 28.00% and a net margin of 4.39%. The company's quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.09 EPS. On average, equities research analysts forecast that LegalZoom.com, Inc. will post 0.25 earnings per share for the current fiscal 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.