Strs Ohio Acquires Shares of 64,100 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 bought a new position in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 64,100 shares of the company's stock, valued at approximately $552,000.

A number of other large investors also recently modified their holdings of LZ. Jacobs Levy Equity Management Inc. increased its holdings in shares of LegalZoom.com by 8.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,186,816 shares of the company's stock valued at $18,828,000 after purchasing an additional 166,385 shares in the last quarter. Nuveen LLC acquired a new position in LegalZoom.com during the 1st quarter worth $18,585,000. Goldman Sachs Group Inc. boosted its position in LegalZoom.com by 9.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,313,429 shares of the company's stock valued at $11,309,000 after buying an additional 113,769 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of LegalZoom.com in the 1st quarter valued at $10,822,000. Finally, Cubist Systematic Strategies LLC increased its stake in shares of LegalZoom.com by 169.1% in the 1st quarter. Cubist Systematic Strategies LLC now owns 1,190,167 shares of the company's stock valued at $10,247,000 after buying an additional 747,960 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at LegalZoom.com

In related news, insider Nicole Miller sold 25,154 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $10.82, for a total value of $272,166.28. Following the sale, the insider owned 960,032 shares in the company, valued at $10,387,546.24. This represents a 2.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $256,322.50. Following the completion of the transaction, the director directly owned 69,953 shares in the company, 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 three months. Corporate insiders own 5.90% of the company's stock.

LegalZoom.com Price Performance

Shares of LegalZoom.com stock traded up $0.07 during midday trading on Monday, reaching $11.02. The company had a trading volume of 1,915,569 shares, compared to its average volume of 2,126,231. LegalZoom.com, Inc. has a fifty-two week low of $6.26 and a fifty-two week high of $11.93. The stock has a fifty day moving average price of $10.04 and a 200 day moving average price of $9.09. The firm has a market cap of $1.99 billion, a PE ratio of 68.88, a P/E/G ratio of 3.36 and a beta of 1.25.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on LZ shares. JPMorgan Chase & Co. upped their price target on LegalZoom.com from $12.00 to $14.00 and gave the company an "overweight" rating in a research note on Monday, September 8th. Barclays boosted their price objective on LegalZoom.com from $9.00 to $10.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th. Citigroup raised 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 price target for the stock from $8.00 to $12.00 in a research note on Friday, August 8th. Finally, Wall Street Zen cut shares of LegalZoom.com from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $10.83.

About LegalZoom.com

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.