Strs Ohio Takes $552,000 Position in LegalZoom.com, Inc. $LZ

Key Points

• Strs Ohio has acquired a new stake in LegalZoom.com, purchasing 64,100 shares valued at approximately $552,000 in the 1st quarter of 2024.
• Institutional investors now hold 81.99% of LegalZoom.com's stock, with several firms, including GAMMA Investing LLC and Jefferies Financial Group, significantly raising their positions recently.
• Analysts have raised their price targets for LegalZoom.com, with Barclays setting a target of $10.00 and JPMorgan Chase & Co. increasing theirs to $14.00, reflecting mixed sentiment among analysts.

Strs Ohio purchased a new stake in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 64,100 shares of the company's stock, valued at approximately $552,000.

Several other hedge funds also recently made changes to their positions in the stock. Arizona State Retirement System grew its position in shares of LegalZoom.com by 6.1% in the first quarter. Arizona State Retirement System now owns 29,728 shares of the company's stock valued at $256,000 after purchasing an additional 1,697 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of 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 purchasing an additional 2,161 shares in the last quarter. State of Wyoming grew its position in shares of LegalZoom.com by 42.1% in the fourth 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 in the last quarter. Corton Capital Inc. grew its position in shares of LegalZoom.com by 18.3% in the first quarter. Corton Capital Inc. now owns 20,738 shares of the company's stock valued at $179,000 after purchasing an additional 3,213 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of LegalZoom.com in the first quarter valued at $29,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

LegalZoom.com Price Performance

Shares of NASDAQ LZ traded down $0.24 during mid-day trading on Tuesday, reaching $10.79. The company's stock had a trading volume of 879,719 shares, compared to its average volume of 2,119,222. The firm has a market capitalization of $1.94 billion, a PE ratio of 67.35, a P/E/G ratio of 3.36 and a beta of 1.25. The stock has a fifty day moving average of $10.08 and a two-hundred day moving average of $9.10. LegalZoom.com, Inc. has a 52 week low of $6.26 and a 52 week high of $11.93.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.15 earnings per share for the quarter, hitting analysts' consensus estimates of $0.15. The firm had revenue of $192.51 million during the quarter, compared to analyst estimates of $182.49 million. LegalZoom.com had a return on equity of 20.36% and a net margin of 4.07%.The business's quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 earnings per share. LegalZoom.com has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts anticipate that LegalZoom.com, Inc. will post 0.25 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on LZ. Citigroup lifted their price target on LegalZoom.com from $10.00 to $12.00 and gave the company a "neutral" rating in a research report on Monday, August 25th. JPMorgan Chase & Co. lifted their price objective on 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 lowered LegalZoom.com from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Bank of America raised LegalZoom.com from an "underperform" rating to a "buy" rating and lifted their price objective for the company from $8.00 to $12.00 in a research note on Friday, August 8th. Finally, Barclays lifted their price objective on 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 investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $10.83.

Insider Transactions at LegalZoom.com

In other news, insider Nicole Miller sold 25,154 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $10.82, for a total value of $272,166.28. Following the completion of the transaction, the insider owned 960,032 shares of the company's stock, valued at $10,387,546.24. This represents a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John Francis Murphy sold 24,250 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $10.57, for a total value of $256,322.50. Following the transaction, the director owned 69,953 shares of the company's stock, valued at approximately $739,403.21. The trade was a 25.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,859 shares of company stock valued at $1,193,100 over the last 90 days. Company 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.