Northern Trust Corp Reduces Holdings in LegalZoom.com, Inc. (NASDAQ:LZ)

Northern Trust Corp lowered its position in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 5.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,168,969 shares of the company's stock after selling 62,910 shares during the quarter. Northern Trust Corp owned 0.68% of LegalZoom.com worth $8,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in LegalZoom.com by 14.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 567,675 shares of the company's stock valued at $3,605,000 after purchasing an additional 71,291 shares during the period. SG Americas Securities LLC grew its position in shares of LegalZoom.com by 44.8% during the 4th quarter. SG Americas Securities LLC now owns 90,104 shares of the company's stock worth $677,000 after buying an additional 27,867 shares during the period. Brighton Jones LLC acquired a new stake in shares of LegalZoom.com during the 4th quarter worth approximately $185,000. Oak Harvest Investment Services acquired a new stake in shares of LegalZoom.com during the 4th quarter worth approximately $751,000. Finally, Savant Capital LLC acquired a new stake in shares of LegalZoom.com during the 4th quarter worth approximately $163,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on LZ shares. Wall Street Zen cut LegalZoom.com from a "strong-buy" rating to a "buy" rating in a report on Thursday. Barclays raised their price objective on LegalZoom.com from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. lifted their target price on LegalZoom.com from $11.00 to $12.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. William Blair reissued a "market perform" rating on shares of LegalZoom.com in a report on Thursday, February 27th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of LegalZoom.com in a report on Thursday, May 15th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, LegalZoom.com presently has a consensus rating of "Hold" and an average price target of $8.64.

LegalZoom.com Price Performance

Shares of LZ traded down $0.28 on Friday, reaching $9.28. The company's stock had a trading volume of 1,597,536 shares, compared to its average volume of 1,790,163. LegalZoom.com, Inc. has a 12-month low of $5.33 and a 12-month high of $10.60. The stock has a market capitalization of $1.68 billion, a P/E ratio of 71.39, a PEG ratio of 1.73 and a beta of 1.14. The stock's 50 day simple moving average is $8.18 and its two-hundred day simple moving average is $8.39.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last released 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 net margin of 3.61% and a return on equity of 32.88%. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 earnings per share. Analysts expect that LegalZoom.com, Inc. will post 0.25 earnings per share for the current 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.