Vanguard Group Inc. Cuts Stock Position in LegalZoom.com, Inc. $LZ

Key Points

• Vanguard Group Inc. sold 95,988 shares of LegalZoom.com, reducing its holdings by 0.5%, and now owns 20,175,781 shares, representing 11.46% of the company.
• Insiders have been active as well, with CFO Noel Bertram Watson and another insider selling a combined total of 40,154 shares recently, indicating significant insider activity.
• LegalZoom.com reported earnings of $0.15 per share, meeting analyst expectations, with revenue of $192.51 million, surpassing forecasts of $182.49 million.

Vanguard Group Inc. lowered its position in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,175,781 shares of the company's stock after selling 95,988 shares during the period. Vanguard Group Inc. owned about 11.46% of LegalZoom.com worth $173,713,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Ararat Capital Management LP boosted its position in LegalZoom.com by 26.6% during the fourth quarter. Ararat Capital Management LP now owns 3,248,482 shares of the company's stock valued at $24,396,000 after purchasing an additional 682,678 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in LegalZoom.com by 30.4% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,020,431 shares of the company's stock worth $15,173,000 after acquiring an additional 471,338 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in LegalZoom.com by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,396,523 shares of the company's stock worth $10,489,000 after acquiring an additional 32,075 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in LegalZoom.com by 297.9% in the fourth quarter. Nuveen Asset Management LLC now owns 1,171,584 shares of the company's stock worth $8,799,000 after acquiring an additional 877,125 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in LegalZoom.com in the first quarter worth about $4,157,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Insiders Place Their Bets

In other LegalZoom.com news, CFO Noel Bertram Watson sold 15,000 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $10.81, for a total transaction of $162,150.00. Following the transaction, the chief financial officer owned 1,721,881 shares of the company's stock, valued at approximately $18,613,533.61. The trade was a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Francis Murphy sold 24,250 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $10.57, for a total value of $256,322.50. Following the transaction, the director directly owned 69,953 shares in the company, valued at $739,403.21. This trade represents a 25.74% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,404 shares of company stock valued at $690,639. Insiders own 5.90% of the company's stock.

Wall Street Analyst Weigh In

LZ has been the subject of several recent analyst reports. Citigroup raised their price target on LegalZoom.com from $10.00 to $12.00 and gave the stock a "neutral" rating in a report on Monday. Bank of America raised LegalZoom.com from an "underperform" rating to a "buy" rating and raised their price target for the stock from $8.00 to $12.00 in a report on Friday, August 8th. Barclays raised their price target on LegalZoom.com from $9.00 to $10.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. raised their price target on LegalZoom.com from $11.00 to $12.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Finally, Wall Street Zen raised LegalZoom.com from a "buy" rating to a "strong-buy" rating in a report on Friday, May 30th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $10.50.

LegalZoom.com Stock Performance

Shares of LZ traded up $0.1150 during trading hours on Monday, hitting $11.0950. 2,074,725 shares of the stock were exchanged, compared to its average volume of 2,091,576. LegalZoom.com, Inc. has a 12-month low of $6.16 and a 12-month high of $11.93. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 69.85, a price-to-earnings-growth ratio of 2.51 and a beta of 1.23. The stock's 50-day moving average price is $9.27 and its two-hundred day moving average price is $8.90.

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 company had revenue of $192.51 million for 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 firm's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 earnings per share. LegalZoom.com has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts expect that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

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.