Wealth Enhancement Advisory Services LLC Acquires 27,527 Shares of LegalZoom.com, Inc. $LZ

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in LegalZoom.com, acquiring 27,527 shares in Q2, bringing its total holdings to 60,120 shares valued at approximately $548,000.
• Insider selling was notable, with CFO Noel Bertram Watson selling 27,319 shares for about $302,421, while total insider transactions last quarter amounted to 109,859 shares valued at $1,193,100.
• LegalZoom.com's stock received multiple analyst rating upgrades, including from Bank of America, which raised its target price to $12.00 and upgraded the rating from "underperform" to "buy."

Wealth Enhancement Advisory Services LLC grew its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 84.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,120 shares of the company's stock after buying an additional 27,527 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in LegalZoom.com were worth $548,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Quantbot Technologies LP bought a new position in LegalZoom.com in the 1st quarter worth about $29,000. GAMMA Investing LLC boosted its stake in LegalZoom.com by 2,750.6% in the 1st quarter. GAMMA Investing LLC now owns 9,635 shares of the company's stock worth $83,000 after purchasing an additional 9,297 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in LegalZoom.com in the 1st quarter worth about $91,000. Bryce Point Capital LLC bought a new position in LegalZoom.com in the 1st quarter worth about $103,000. Finally, Merit Financial Group LLC bought a new position in LegalZoom.com in the 1st quarter worth about $116,000. Institutional investors own 81.99% of the company's stock.

Insider Activity

In other news, CFO Noel Bertram Watson sold 27,319 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $11.07, for a total transaction of $302,421.33. Following the completion of the sale, the chief financial officer owned 1,676,426 shares of the company's stock, valued at $18,558,035.82. This represents a 1.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $272,166.28. Following the sale, the insider directly owned 960,032 shares of the company's stock, valued at $10,387,546.24. The trade was a 2.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,859 shares of company stock valued at $1,193,100 in the last quarter. 5.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

LZ has been the topic of a number of analyst reports. Bank of America upgraded shares of LegalZoom.com from an "underperform" rating to a "buy" rating and upped their price target for the stock from $8.00 to $12.00 in a research note on Friday, August 8th. Citigroup upped their price target on shares of LegalZoom.com from $10.00 to $12.00 and gave the stock a "neutral" rating in a research note on Monday, August 25th. Wall Street Zen upgraded shares of LegalZoom.com from a "buy" rating to a "strong-buy" rating in a research note on Friday. Weiss Ratings reissued a "hold (c-)" rating on shares of LegalZoom.com in a research report on Saturday, September 27th. Finally, JPMorgan Chase & Co. boosted their target price on LegalZoom.com from $12.00 to $14.00 and gave the stock an "overweight" rating in a research report on Monday, September 8th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $10.83.

LegalZoom.com Stock Performance

Shares of NASDAQ:LZ opened at $10.24 on Friday. LegalZoom.com, Inc. has a fifty-two week low of $6.33 and a fifty-two week high of $11.93. The business has a 50-day simple moving average of $10.37 and a two-hundred day simple moving average of $9.18. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 64.00, a price-to-earnings-growth ratio of 3.14 and a beta of 1.23.

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

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.

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