LegalZoom.com, Inc. $LZ Stake Reduced by Palogic Value Management L.P.

Key Points

• Palogic Value Management L.P. reduced its stake in LegalZoom.com by 36.6%, bringing its ownership to about 0.07% of the company, worth approximately $1,092,000.
• Several institutional investors have increased their holdings in LegalZoom.com, with notable purchases including GAMMA Investing LLC, which raised its stake by 2,750.6%.
• Analysts have set new price targets for LegalZoom.com, with JPMorgan Chase raising its target from $12.00 to $14.00 and Barclays increasing its target from $9.00 to $10.00.

Palogic Value Management L.P. cut its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 36.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,862 shares of the company's stock after selling 73,138 shares during the period. Palogic Value Management L.P. owned 0.07% of LegalZoom.com worth $1,092,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of LZ. Arizona State Retirement System lifted its holdings in shares of LegalZoom.com by 6.1% during the first quarter. Arizona State Retirement System now owns 29,728 shares of the company's stock worth $256,000 after purchasing an additional 1,697 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in LegalZoom.com by 3.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,980 shares of the company's stock valued at $646,000 after acquiring an additional 2,161 shares during the period. State of Wyoming raised its stake in shares of LegalZoom.com by 42.1% during the 4th quarter. State of Wyoming now owns 8,347 shares of the company's stock worth $63,000 after buying an additional 2,475 shares during the last quarter. Corton Capital Inc. raised its stake in shares of LegalZoom.com by 18.3% during the 1st quarter. Corton Capital Inc. now owns 20,738 shares of the company's stock worth $179,000 after buying an additional 3,213 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in LegalZoom.com during the 1st quarter worth about $29,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

LegalZoom.com Price Performance

NASDAQ LZ traded up $0.01 on Friday, reaching $10.56. The company had a trading volume of 2,101,830 shares, compared to its average volume of 2,254,603. The firm has a market capitalization of $1.90 billion, a PE ratio of 66.00, a P/E/G ratio of 2.53 and a beta of 1.25. LegalZoom.com, Inc. has a 1 year low of $6.26 and a 1 year high of $11.93. The firm has a 50-day moving average of $9.87 and a 200-day moving average of $9.08.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.15. LegalZoom.com had a return on equity of 20.36% and a net margin of 4.07%.The company had revenue of $192.51 million for the quarter, compared to analyst estimates of $182.49 million. During the same period in the prior year, the company posted $0.10 EPS. LegalZoom.com'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. As a group, sell-side analysts expect that LegalZoom.com, Inc. will post 0.25 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Citigroup boosted their target price on shares of LegalZoom.com from $10.00 to $12.00 and gave the company a "neutral" rating in a research note on Monday, August 25th. Bank of America raised shares of LegalZoom.com from an "underperform" rating to a "buy" rating and boosted their target price for the company from $8.00 to $12.00 in a research note on Friday, August 8th. JPMorgan Chase & Co. boosted their target price on shares of LegalZoom.com from $12.00 to $14.00 and gave the company an "overweight" rating in a research note on Monday, September 8th. Wall Street Zen downgraded shares of LegalZoom.com from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Finally, Barclays boosted their target price on shares of LegalZoom.com from $9.00 to $10.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 12th. Two research 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.com, the company has an average rating of "Hold" and an average price target of $10.83.

Insider Buying and Selling at LegalZoom.com

In related news, CFO Noel Bertram Watson sold 27,319 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $11.07, for a total transaction of $302,421.33. Following the sale, the chief financial officer directly owned 1,676,426 shares of the company's stock, valued at approximately $18,558,035.82. This represents a 1.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Francis Murphy sold 24,250 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $10.57, for a total value of $256,322.50. Following the sale, the director directly owned 69,953 shares in the company, valued at approximately $739,403.21. This represents a 25.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,859 shares of company stock valued at $1,193,100 in the last three months. Corporate insiders own 5.90% of the company's stock.

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.