Wealth Enhancement Advisory Services LLC Buys Shares of 32,593 LegalZoom.com, Inc. (NASDAQ:LZ)

Wealth Enhancement Advisory Services LLC bought a new stake in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 32,593 shares of the company's stock, valued at approximately $281,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State of Wyoming grew its stake in LegalZoom.com by 42.1% in the 4th 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 during the period. Aigen Investment Management LP bought a new position in LegalZoom.com during the 4th quarter worth approximately $76,000. Quantessence Capital LLC bought a new position in LegalZoom.com during the 4th quarter worth approximately $78,000. Sei Investments Co. bought a new stake in shares of LegalZoom.com in the 4th quarter worth approximately $83,000. Finally, GAMMA Investing LLC lifted its stake in shares of LegalZoom.com by 2,750.6% in the 1st quarter. GAMMA Investing LLC now owns 9,635 shares of the company's stock valued at $83,000 after purchasing an additional 9,297 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. JMP Securities reissued a "market perform" rating on shares of LegalZoom.com in a report on Thursday, May 15th. Wall Street Zen upgraded LegalZoom.com from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 30th. Morgan Stanley boosted their target price on LegalZoom.com from $7.00 to $8.00 and gave the stock an "underweight" rating in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. upped their price objective on LegalZoom.com from $11.00 to $12.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $9.08.

LegalZoom.com Price Performance

Shares of NASDAQ:LZ traded down $0.26 on Friday, reaching $8.91. The company's stock had a trading volume of 1,237,022 shares, compared to its average volume of 1,697,443. The stock's 50-day moving average is $8.97 and its two-hundred day moving average is $8.62. LegalZoom.com, Inc. has a 52-week low of $5.56 and a 52-week high of $10.60. The stock has a market capitalization of $1.61 billion, a P/E ratio of 55.69, a PEG ratio of 3.80 and a beta of 1.23.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.13 EPS for the quarter, meeting analysts' consensus estimates of $0.13. The business had revenue of $183.11 million during the quarter, compared to analysts' expectations of $176.17 million. LegalZoom.com had a net margin of 4.39% and a return on equity of 28.00%. The business's revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 earnings per share. Equities analysts forecast that LegalZoom.com, Inc. will post 0.25 earnings per share for the current fiscal year.

LegalZoom.com Company 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.