LegalZoom.com, Inc. (NASDAQ:LZ) Position Decreased by Kazazian Asset Management LLC

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 reduced its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 45.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 244,838 shares of the company's stock after selling 204,500 shares during the period. LegalZoom.com accounts for about 1.7% of Kazazian Asset Management LLC's investment portfolio, making the stock its 12th largest position. Kazazian Asset Management LLC owned 0.14% of LegalZoom.com worth $2,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC acquired a new position in shares of LegalZoom.com in the 4th quarter valued at about $185,000. American Century Companies Inc. lifted its position in LegalZoom.com by 24.7% during the fourth quarter. American Century Companies Inc. now owns 319,878 shares of the company's stock valued at $2,402,000 after buying an additional 63,392 shares in the last quarter. Sei Investments Co. purchased a new stake in LegalZoom.com during the fourth quarter worth approximately $83,000. KLP Kapitalforvaltning AS acquired a new stake in shares of LegalZoom.com in the fourth quarter worth $161,000. Finally, Vanguard Group Inc. raised its stake in shares of LegalZoom.com by 14.5% in the 4th quarter. Vanguard Group Inc. now owns 20,271,769 shares of the company's stock valued at $152,241,000 after acquiring an additional 2,574,700 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

LegalZoom.com Price Performance

LZ traded up $0.27 on Wednesday, reaching $8.57. The company's stock had a trading volume of 2,459,614 shares, compared to its average volume of 1,975,585. The business's 50 day moving average is $8.95 and its 200 day moving average is $8.75. LegalZoom.com, Inc. has a 1 year low of $5.56 and a 1 year high of $10.60. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 50.38, a price-to-earnings-growth ratio of 3.74 and a beta of 1.23.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. JMP Securities reiterated a "market perform" rating on shares of LegalZoom.com in a report on Thursday, May 15th. Wall Street Zen upgraded LegalZoom.com from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 30th. Morgan Stanley boosted their price target on LegalZoom.com from $7.00 to $8.00 and gave the stock an "underweight" rating in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of LegalZoom.com from $11.00 to $12.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. 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 issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $9.30.

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.