LegalZoom.com, Inc. (NASDAQ:LZ) Shares Sold by Tabor Asset Management LP

Tabor Asset Management LP decreased its holdings in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 10.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 998,026 shares of the company's stock after selling 119,690 shares during the period. LegalZoom.com accounts for about 2.2% of Tabor Asset Management LP's portfolio, making the stock its 5th biggest holding. Tabor Asset Management LP owned approximately 0.57% of LegalZoom.com worth $8,593,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Brighton Jones LLC bought a new position in shares of LegalZoom.com during the 4th quarter valued at approximately $185,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of LegalZoom.com by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,232,747 shares of the company's stock worth $9,258,000 after acquiring an additional 34,914 shares during the last quarter. Madison Investment Advisors LLC bought a new stake in shares of LegalZoom.com in the 4th quarter worth about $1,447,000. Cibc World Markets Corp bought a new stake in shares of LegalZoom.com in the 4th quarter worth about $90,000. Finally, Magnetar Financial LLC bought a new stake in shares of LegalZoom.com in the 4th quarter worth about $233,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

LegalZoom.com Price Performance

Shares of NASDAQ:LZ traded up $0.01 during midday trading on Friday, reaching $8.85. 2,281,928 shares of the company's stock were exchanged, compared to its average volume of 1,687,405. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 52.06, a P/E/G ratio of 3.77 and a beta of 1.23. The firm's 50 day simple moving average is $9.06 and its two-hundred day simple moving average is $8.65. LegalZoom.com, Inc. has a fifty-two week low of $5.56 and a fifty-two week 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 EPS for the quarter, hitting the consensus estimate of $0.13. LegalZoom.com had a return on equity of 28.00% and a net margin of 4.39%. The firm had revenue of $183.11 million during the quarter, compared to analysts' expectations of $176.17 million. During the same period in the previous year, the firm posted $0.09 EPS. LegalZoom.com's revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts predict that LegalZoom.com, Inc. will post 0.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LZ has been the subject of a number of analyst reports. Morgan Stanley increased their target price 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. JPMorgan Chase & Co. upped their price objective on shares of LegalZoom.com from $11.00 to $12.00 and gave the company an "overweight" rating in a report on Monday, May 19th. JMP Securities reaffirmed a "market perform" rating on shares of LegalZoom.com in a report on Thursday, May 15th. Finally, Wall Street Zen raised shares of LegalZoom.com from a "buy" rating to a "strong-buy" rating in a report on Friday, May 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $9.08.

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.