Nuveen LLC Takes Position in LegalZoom.com, Inc. $LZ

Key Points

• Nuveen LLC has made a significant investment of approximately $18.59 million in LegalZoom.com, acquiring over 2 million shares, which represents about 1.23% of the company's total shares outstanding.
• Insider transactions reveal that board members sold a combined total of 49,404 shares recently, indicating changes in ownership stakes among public investors.
• LegalZoom.com has been upgraded by several research firms, with Bank of America raising its price target from $8 to $12 and upgrading the stock from "underperform" to "buy".

Nuveen LLC acquired a new stake in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,158,569 shares of the company's stock, valued at approximately $18,585,000. Nuveen LLC owned about 1.23% of LegalZoom.com as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. State of Wyoming raised its stake in LegalZoom.com by 42.1% in the 4th quarter. State of Wyoming now owns 8,347 shares of the company's stock valued at $63,000 after purchasing an additional 2,475 shares during the last quarter. Quantessence Capital LLC acquired a new stake in shares of LegalZoom.com in the 4th quarter worth $78,000. GAMMA Investing LLC increased its stake in shares of LegalZoom.com by 2,750.6% in the 1st quarter. GAMMA Investing LLC now owns 9,635 shares of the company's stock worth $83,000 after acquiring an additional 9,297 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of LegalZoom.com in the 1st quarter worth $91,000. Finally, Bryce Point Capital LLC acquired a new stake in shares of LegalZoom.com in the 1st quarter worth $103,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at LegalZoom.com

In related news, insider Nicole Miller sold 25,154 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $10.82, for a total transaction of $272,166.28. Following the completion of the transaction, the insider directly owned 960,032 shares in the company, valued at $10,387,546.24. This trade represents a 2.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Noel Bertram Watson sold 15,000 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $10.81, for a total value of $162,150.00. Following the transaction, the chief financial officer owned 1,721,881 shares of the company's stock, valued at $18,613,533.61. This trade represents a 0.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,404 shares of company stock worth $690,639 in the last three months. 5.90% of the stock is owned by company insiders.

Analyst Ratings Changes

LZ has been the subject of a number of recent research reports. Morgan Stanley raised their target price on LegalZoom.com from $7.00 to $8.00 and gave the stock an "underweight" rating in a research note on Friday, May 9th. Wall Street Zen raised LegalZoom.com from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 30th. Citigroup raised their target price on LegalZoom.com from $10.00 to $12.00 and gave the stock a "neutral" rating in a research note on Monday. JPMorgan Chase & Co. raised 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. Finally, Barclays raised their price objective on LegalZoom.com from $9.00 to $10.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 12th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $10.50.

LegalZoom.com Price Performance

Shares of NASDAQ:LZ traded up $0.02 during midday trading on Monday, reaching $11.00. 4,637,793 shares of the company's stock were exchanged, compared to its average volume of 2,915,431. The firm's 50 day simple moving average is $9.31 and its two-hundred day simple moving average is $8.91. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 68.75, a P/E/G ratio of 2.51 and a beta of 1.23. LegalZoom.com, Inc. has a fifty-two week low of $6.16 and a fifty-two week high of $11.93.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.15. LegalZoom.com had a return on equity of 20.36% and a net margin of 4.07%.The firm had revenue of $192.51 million during the quarter, compared to the consensus estimate of $182.49 million. During the same period last year, the company earned $0.10 EPS. The company's quarterly revenue was up 8.5% on a year-over-year basis. LegalZoom.com has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts predict 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.