New York State Common Retirement Fund Sells 142,621 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

Key Points

• The New York State Common Retirement Fund significantly reduced its stake in LegalZoom.com by 79.0%, selling 142,621 shares in the first quarter, and now holds 37,828 shares valued at approximately $326,000.
• LegalZoom.com reported a 0.13 EPS for the recent quarter, meeting analysts' expectations, with revenues reaching $183.11 million, up 5.1% year-over-year.
• Analysts have mixed views on LegalZoom.com, with recent upgrades from Wall Street Zen and JPMorgan Chase, while Morgan Stanley maintains an "underweight" rating and a target price of $8.00.

New York State Common Retirement Fund lowered its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 79.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,828 shares of the company's stock after selling 142,621 shares during the period. New York State Common Retirement Fund's holdings in LegalZoom.com were worth $326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in LegalZoom.com by 14.5% in the fourth quarter. Vanguard Group Inc. now owns 20,271,769 shares of the company's stock worth $152,241,000 after purchasing an additional 2,574,700 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of LegalZoom.com by 7.6% in the 4th quarter. Renaissance Technologies LLC now owns 3,525,142 shares of the company's stock valued at $26,474,000 after purchasing an additional 250,409 shares during the last quarter. Ararat Capital Management LP boosted its holdings in shares of LegalZoom.com by 26.6% in the 4th quarter. Ararat Capital Management LP now owns 3,248,482 shares of the company's stock worth $24,396,000 after purchasing an additional 682,678 shares during the period. Franklin Resources Inc. boosted its stake in LegalZoom.com by 0.9% during the fourth quarter. Franklin Resources Inc. now owns 3,094,594 shares of the company's stock worth $23,240,000 after buying an additional 26,607 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in LegalZoom.com by 30.4% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,020,431 shares of the company's stock valued at $15,173,000 after purchasing an additional 471,338 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

LegalZoom.com Price Performance

Shares of NASDAQ:LZ opened at $9.08 on Friday. The firm has a market capitalization of $1.65 billion, a P/E ratio of 53.41, a P/E/G ratio of 3.87 and a beta of 1.23. The business's 50-day moving average is $9.03 and its 200 day moving average is $8.70. LegalZoom.com, Inc. has a 1 year low of $5.56 and a 1 year 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 analysts' consensus estimates of $0.13. The firm had revenue of $183.11 million during 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 revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. On average, analysts expect that LegalZoom.com, Inc. will post 0.25 EPS for the current year.

Wall Street Analyst Weigh In

LZ has been the subject of a number of recent analyst reports. Morgan Stanley boosted their price objective on LegalZoom.com from $7.00 to $8.00 and gave the company an "underweight" rating in a report on Friday, May 9th. 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. JPMorgan Chase & Co. lifted their target price on LegalZoom.com from $11.00 to $12.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of LegalZoom.com in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, LegalZoom.com 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.

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