Quantinno Capital Management LP raised its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 232.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 393,823 shares of the company's stock after purchasing an additional 275,236 shares during the quarter. Quantinno Capital Management LP owned about 0.23% of LegalZoom.com worth $2,233,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Osaic Holdings Inc. grew its holdings in shares of LegalZoom.com by 477.3% during the second quarter. Osaic Holdings Inc. now owns 4,555 shares of the company's stock valued at $41,000 after buying an additional 3,766 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in LegalZoom.com by 976.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,564 shares of the company's stock worth $41,000 after acquiring an additional 4,140 shares during the last quarter. Parallel Advisors LLC raised its stake in LegalZoom.com by 8,589.8% in the 3rd quarter. Parallel Advisors LLC now owns 5,127 shares of the company's stock worth $53,000 after acquiring an additional 5,068 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in LegalZoom.com during the 4th quarter worth about $74,000. Finally, Parkside Financial Bank & Trust lifted its position in LegalZoom.com by 91.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 7,433 shares of the company's stock worth $74,000 after acquiring an additional 3,550 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.
Insider Buying and Selling
In related news, insider Nicole Miller sold 19,199 shares of LegalZoom.com stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $6.58, for a total transaction of $126,329.42. Following the transaction, the insider owned 1,119,222 shares in the company, valued at approximately $7,364,480.76. This trade represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Noel Bertram Watson sold 15,000 shares of the business's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $6.45, for a total value of $96,750.00. Following the transaction, the chief financial officer directly owned 2,041,847 shares in the company, valued at $13,169,913.15. This trade represents a 0.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 7.40% of the stock is owned by corporate insiders.
LegalZoom.com Price Performance
Shares of LZ stock opened at $5.68 on Tuesday. The stock has a 50 day simple moving average of $6.71 and a 200-day simple moving average of $6.69. The company has a market cap of $972.76 million, a price-to-earnings ratio of 63.11, a PEG ratio of 1.02 and a beta of 1.28. LegalZoom.com, Inc. has a 1-year low of $5.22 and a 1-year high of $12.40.
LegalZoom.com (NASDAQ:LZ - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.01. The firm had revenue of $205.29 million for the quarter, compared to analyst estimates of $205.83 million. LegalZoom.com had a return on equity of 15.83% and a net margin of 2.13%.The business's revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share. Analysts anticipate that LegalZoom.com, Inc. will post 0.34 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $7.00 price objective (down from $8.00) on shares of LegalZoom.com in a report on Thursday, August 6th. UBS Group decreased their target price on LegalZoom.com from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Thursday, May 7th. William Blair lowered LegalZoom.com from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 6th. Weiss Ratings reiterated a "sell (d+)" rating on shares of LegalZoom.com in a report on Thursday, July 2nd. Finally, Wall Street Zen lowered shares of LegalZoom.com from a "buy" rating to a "hold" rating in a research report on Saturday. Five equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $7.30.
Get Our Latest Analysis on LZ
About LegalZoom.com
(
Free Report)
LegalZoom.com, Inc NASDAQ: LZ operates as a leading online legal technology company that provides a broad range of legal and business services to individuals, families and small businesses. Through its digital platform, the company offers customized legal documents and filing services, including business formation (LLCs, corporations and nonprofits), estate planning (wills and trusts), intellectual property protection (trademarks and copyrights), and ongoing compliance support. LegalZoom also connects customers with independent attorneys for consultations on matters such as family law, immigration and real estate.
Founded in 2001 by entrepreneurs Brian Lee, Brian P.
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