LegalZoom.com, Inc. $LZ Stake Lowered by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC reduced its holdings in LegalZoom.com by 26.3%, now owning approximately 350,220 shares valued at about $3 million.
• LegalZoom.com reported a net margin of 4.07% and a revenue of $192.51 million for the recent quarter, exceeding analysts' expectations.
• Institutional investors hold approximately 81.99% of LegalZoom.com’s stock, indicating a strong interest from hedge funds in the company.

Voya Investment Management LLC trimmed its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 26.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 350,220 shares of the company's stock after selling 124,832 shares during the period. Voya Investment Management LLC owned about 0.19% of LegalZoom.com worth $3,015,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in LegalZoom.com during the first quarter worth about $29,000. State of Wyoming grew its holdings in LegalZoom.com by 42.1% during the fourth quarter. State of Wyoming now owns 8,347 shares of the company's stock worth $63,000 after acquiring an additional 2,475 shares during the period. GAMMA Investing LLC grew its holdings in LegalZoom.com by 2,750.6% during the first quarter. GAMMA Investing LLC now owns 9,635 shares of the company's stock worth $83,000 after acquiring an additional 9,297 shares during the period. Jefferies Financial Group Inc. acquired a new stake in LegalZoom.com during the first quarter worth about $91,000. Finally, Bryce Point Capital LLC acquired a new stake in LegalZoom.com during the first quarter worth about $103,000. 81.99% of the stock is owned by institutional investors and hedge funds.

LegalZoom.com Stock Performance

LegalZoom.com stock traded down $0.24 during midday trading on Tuesday, reaching $10.79. The stock had a trading volume of 879,719 shares, compared to its average volume of 2,119,222. LegalZoom.com, Inc. has a twelve month low of $6.26 and a twelve month high of $11.93. The stock has a market capitalization of $1.94 billion, a PE ratio of 67.35, a price-to-earnings-growth ratio of 3.36 and a beta of 1.25. The stock's 50-day simple moving average is $10.08 and its 200 day simple moving average is $9.10.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.15 EPS for the quarter, hitting analysts' consensus estimates of $0.15. The company had revenue of $192.51 million for 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 quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 earnings per share. LegalZoom.com has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities analysts predict that LegalZoom.com, Inc. will post 0.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Nicole Miller sold 25,154 shares of the business'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 transaction, the insider owned 960,032 shares in the company, valued at approximately $10,387,546.24. The trade was a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Noel Bertram Watson sold 27,319 shares of the business's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $11.07, for a total value of $302,421.33. Following the completion of the transaction, the chief financial officer owned 1,676,426 shares in the company, valued at approximately $18,558,035.82. This trade represents a 1.60% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,859 shares of company stock worth $1,193,100. 5.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LZ. JPMorgan Chase & Co. boosted their price objective on LegalZoom.com from $12.00 to $14.00 and gave the company an "overweight" rating in a research report on Monday, September 8th. Barclays upped their target price on LegalZoom.com from $9.00 to $10.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 12th. Wall Street Zen downgraded LegalZoom.com from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Bank of America upgraded LegalZoom.com from an "underperform" rating to a "buy" rating and raised their target price for the company from $8.00 to $12.00 in a research report on Friday, August 8th. Finally, Citigroup raised their target price on LegalZoom.com from $10.00 to $12.00 and gave the company a "neutral" rating in a research report on Monday, August 25th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $10.83.

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.