SG Americas Securities LLC Purchases New Holdings in LegalZoom.com, Inc. $LZ

Key Points

• SG Americas Securities LLC opened a new position of 534,111 shares in LegalZoom (about $5.3M), now owning roughly 0.30% of the company while institutional investors hold about 81.99% of the stock.
• LegalZoom reported Q results with $0.17 EPS (missed by $0.01) and revenue of $190.3M (up 17.7% YoY and above estimates), and its board approved a $100M share buyback (up to 8.1% of shares outstanding).
• Company insiders sold shares recently (Nicole Miller sold 23,325 shares; CFO Noel Bertram Watson sold 15,000), insiders own about 5.90%, and analysts have an average rating of "Hold" with an average price target of $9.42.

SG Americas Securities LLC acquired a new position in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 534,111 shares of the company's stock, valued at approximately $5,304,000. SG Americas Securities LLC owned 0.30% of LegalZoom.com as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in LZ. EP Wealth Advisors LLC lifted its holdings in shares of LegalZoom.com by 2.8% in the second quarter. EP Wealth Advisors LLC now owns 41,352 shares of the company's stock valued at $368,000 after purchasing an additional 1,139 shares in the last quarter. Clearstead Advisors LLC grew its holdings in shares of LegalZoom.com by 58.5% during the third quarter. Clearstead Advisors LLC now owns 3,906 shares of the company's stock valued at $41,000 after buying an additional 1,441 shares in the last quarter. Prelude Capital Management LLC raised its position in LegalZoom.com by 11.6% during the third quarter. Prelude Capital Management LLC now owns 14,185 shares of the company's stock valued at $147,000 after buying an additional 1,470 shares during the period. Avory & Company LLC raised its position in LegalZoom.com by 0.4% during the third quarter. Avory & Company LLC now owns 376,419 shares of the company's stock valued at $3,907,000 after buying an additional 1,586 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in LegalZoom.com by 2.2% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 75,394 shares of the company's stock worth $783,000 after acquiring an additional 1,657 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Nicole Miller sold 23,325 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $6.63, for a total transaction of $154,644.75. Following the transaction, the insider owned 813,033 shares in the company, valued at $5,390,408.79. This represents a 2.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Noel Bertram Watson sold 15,000 shares of the firm's stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $6.96, for a total transaction of $104,400.00. Following the transaction, the chief financial officer owned 1,480,860 shares in the company, valued at $10,306,785.60. This represents a 1.00% decrease in their position. The SEC filing for this sale provides additional information. 5.90% of the stock is owned by insiders.

LegalZoom.com Price Performance

Shares of LZ stock opened at $5.70 on Thursday. LegalZoom.com, Inc. has a fifty-two week low of $5.44 and a fifty-two week high of $12.40. The stock's 50-day moving average is $6.99 and its two-hundred day moving average is $8.93. The firm has a market cap of $985.64 million, a P/E ratio of 71.26, a PEG ratio of 1.23 and a beta of 1.30.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $190.27 million for the quarter, compared to analyst estimates of $184.85 million. LegalZoom.com had a net margin of 2.04% and a return on equity of 6.35%. The firm's quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.19 earnings per share. As a group, research analysts expect that LegalZoom.com, Inc. will post 0.25 EPS for the current year.

LegalZoom.com declared that its board has approved a stock buyback program on Thursday, February 19th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. UBS Group lowered their target price on LegalZoom.com from $12.00 to $8.00 and set a "neutral" rating on the stock in a research note on Friday, February 20th. Zacks Research upgraded shares of LegalZoom.com from a "strong sell" rating to a "hold" rating in a report on Monday, February 23rd. Barclays reaffirmed an "underweight" rating and set a $6.00 price objective (down from $9.00) on shares of LegalZoom.com in a research report on Wednesday, March 4th. JPMorgan Chase & Co. dropped their price objective on shares of LegalZoom.com from $14.00 to $11.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 18th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of LegalZoom.com in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $9.42.

LegalZoom.com Profile

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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