Nuveen Asset Management LLC Acquires 877,125 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

Nuveen Asset Management LLC lifted its position in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 297.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,171,584 shares of the company's stock after purchasing an additional 877,125 shares during the quarter. Nuveen Asset Management LLC owned 0.68% of LegalZoom.com worth $8,799,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Pathway Capital Management LP bought a new position in shares of LegalZoom.com in the 4th quarter worth approximately $2,387,000. Oak Harvest Investment Services bought a new position in shares of LegalZoom.com in the 4th quarter worth approximately $751,000. Citizens Financial Group Inc. RI raised its position in shares of LegalZoom.com by 11.3% in the 4th quarter. Citizens Financial Group Inc. RI now owns 545,404 shares of the company's stock worth $4,096,000 after acquiring an additional 55,336 shares in the last quarter. SG Americas Securities LLC raised its position in shares of LegalZoom.com by 44.8% in the 4th quarter. SG Americas Securities LLC now owns 90,104 shares of the company's stock worth $677,000 after acquiring an additional 27,867 shares in the last quarter. Finally, State of Tennessee Department of Treasury bought a new position in shares of LegalZoom.com in the 4th quarter worth approximately $270,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on LZ shares. JMP Securities reissued a "market perform" rating on shares of LegalZoom.com in a research report on Thursday, May 15th. 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 report on Thursday, February 27th. Morgan Stanley raised their price objective on LegalZoom.com from $7.00 to $8.00 and gave the company an "underweight" rating in a research report on Friday, May 9th. Wall Street Zen raised LegalZoom.com from a "buy" rating to a "strong-buy" rating in a research report on Friday. Finally, William Blair reaffirmed a "market perform" rating on shares of LegalZoom.com in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, LegalZoom.com presently has an average rating of "Hold" and a consensus price target of $8.64.

LegalZoom.com Stock Performance

Shares of LZ stock traded up $0.08 on Friday, reaching $9.18. The stock had a trading volume of 1,504,310 shares, compared to its average volume of 1,782,267. The stock has a market cap of $1.66 billion, a P/E ratio of 70.62, a price-to-earnings-growth ratio of 1.73 and a beta of 1.14. LegalZoom.com, Inc. has a 1 year low of $5.33 and a 1 year high of $10.60. The company has a 50 day simple moving average of $8.17 and a 200 day simple moving average of $8.41.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.13. The firm had revenue of $183.11 million for the quarter, compared to the consensus estimate of $176.17 million. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The company's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the business posted $0.09 EPS. On average, equities research analysts anticipate that LegalZoom.com, Inc. will post 0.25 earnings per share for the current fiscal year.

LegalZoom.com 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.