Squarepoint Ops LLC Sells 69,364 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

Squarepoint Ops LLC cut its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 54.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,990 shares of the company's stock after selling 69,364 shares during the quarter. Squarepoint Ops LLC's holdings in LegalZoom.com were worth $436,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State of Wyoming boosted its position in LegalZoom.com by 42.1% in the fourth quarter. State of Wyoming now owns 8,347 shares of the company's stock worth $63,000 after purchasing an additional 2,475 shares during the last quarter. Aigen Investment Management LP purchased a new position in LegalZoom.com in the fourth quarter worth about $76,000. Olympiad Research LP purchased a new position in LegalZoom.com in the fourth quarter worth about $78,000. Quantessence Capital LLC purchased a new position in LegalZoom.com in the fourth quarter worth about $78,000. Finally, Sei Investments Co. purchased a new position in LegalZoom.com in the fourth quarter worth about $83,000. 81.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LZ. Wall Street Zen raised LegalZoom.com from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. lifted their price objective on LegalZoom.com from $11.00 to $12.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. JMP Securities reissued a "market perform" rating on shares of LegalZoom.com in a research note on Thursday, May 15th. Barclays lifted their target price on LegalZoom.com from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. Finally, Morgan Stanley lifted their target price on LegalZoom.com from $7.00 to $8.00 and gave the company an "underweight" rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, LegalZoom.com presently has an average rating of "Hold" and a consensus price target of $8.64.

LegalZoom.com Stock Performance

NASDAQ:LZ traded down $0.03 during trading hours on Friday, reaching $9.17. The stock had a trading volume of 1,430,166 shares, compared to its average volume of 1,783,722. LegalZoom.com, Inc. has a 52 week low of $5.33 and a 52 week high of $10.60. The company has a 50 day moving average price of $8.19 and a two-hundred day moving average price of $8.46. The stock has a market capitalization of $1.66 billion, a PE ratio of 70.54, a PEG ratio of 1.73 and a beta of 1.25.

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

LegalZoom.com Company 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.