Millennium Management LLC Has $3.48 Million Position in LegalZoom.com, Inc. (NASDAQ:LZ)

Millennium Management LLC increased its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 54.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 463,904 shares of the company's stock after purchasing an additional 163,245 shares during the quarter. Millennium Management LLC owned approximately 0.27% of LegalZoom.com worth $3,484,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Pathway Capital Management LP purchased a new position in LegalZoom.com in the fourth quarter valued at about $2,387,000. Oak Harvest Investment Services purchased a new stake in shares of LegalZoom.com during the 4th quarter worth about $751,000. Citizens Financial Group Inc. RI lifted its holdings in shares of LegalZoom.com by 11.3% during the 4th quarter. Citizens Financial Group Inc. RI now owns 545,404 shares of the company's stock valued at $4,096,000 after buying an additional 55,336 shares during the last quarter. Graham Capital Management L.P. bought a new stake in shares of LegalZoom.com in the 4th quarter valued at approximately $334,000. Finally, Ameriprise Financial Inc. increased its holdings in LegalZoom.com by 30.0% in the fourth quarter. Ameriprise Financial Inc. now owns 322,510 shares of the company's stock worth $2,422,000 after buying an additional 74,507 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on LZ. JPMorgan Chase & Co. lifted their target price on shares of LegalZoom.com from $11.00 to $12.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Morgan Stanley lifted their price objective on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an "underweight" rating in a research note on Friday, May 9th. Wall Street Zen upgraded shares of LegalZoom.com from a "buy" rating to a "strong-buy" rating in a report on Friday, May 30th. William Blair reissued a "market perform" rating on shares of LegalZoom.com in a research report on Thursday, February 27th. Finally, Barclays boosted their price target on LegalZoom.com from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $8.64.

LegalZoom.com Price Performance

LZ stock traded up $0.03 on Wednesday, reaching $9.21. 1,632,293 shares of the company were exchanged, compared to its average volume of 1,781,026. The firm has a market capitalization of $1.67 billion, a PE ratio of 70.85, a PEG ratio of 1.73 and a beta of 1.14. LegalZoom.com, Inc. has a 12 month low of $5.33 and a 12 month high of $10.60. The stock's fifty day moving average price is $8.17 and its 200 day moving average price is $8.44.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 net margin of 3.61% and a return on equity of 32.88%. The business's revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 EPS. As a group, research analysts expect that LegalZoom.com, Inc. will post 0.25 EPS 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.