Wealth Enhancement Advisory Services LLC Makes New Investment in 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 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.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in LegalZoom.com by 14.5% during the 4th quarter. Vanguard Group Inc. now owns 20,271,769 shares of the company's stock worth $152,241,000 after acquiring an additional 2,574,700 shares during the period. Nuveen Asset Management LLC increased its holdings in LegalZoom.com by 297.9% during the 4th 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 during the period. Norges Bank bought a new stake in LegalZoom.com during the 4th quarter worth approximately $5,769,000. Ararat Capital Management LP increased its holdings in LegalZoom.com by 26.6% during the 4th quarter. Ararat Capital Management LP now owns 3,248,482 shares of the company's stock worth $24,396,000 after acquiring an additional 682,678 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in LegalZoom.com by 103.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,153,409 shares of the company's stock worth $8,662,000 after acquiring an additional 585,734 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

LegalZoom.com Trading Down 0.4%

LegalZoom.com stock traded down $0.04 during trading hours on Wednesday, hitting $8.97. 1,511,183 shares of the stock traded hands, compared to its average volume of 1,788,479. LegalZoom.com, Inc. has a one year low of $5.33 and a one year high of $10.60. The firm's 50-day moving average price is $8.87 and its two-hundred day moving average price is $8.60. The company has a market cap of $1.63 billion, a PE ratio of 52.76, a PEG ratio of 3.84 and a beta of 1.23.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. LegalZoom.com had a net margin of 4.39% and a return on equity of 28.00%. The business had revenue of $183.11 million for the quarter, compared to analyst estimates of $176.17 million. During the same quarter in the previous year, the firm posted $0.09 earnings per share. LegalZoom.com's quarterly revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts expect that LegalZoom.com, Inc. will post 0.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on LZ shares. JMP Securities reaffirmed a "market perform" rating on shares of LegalZoom.com in a report on Thursday, May 15th. Wall Street Zen raised shares of LegalZoom.com from a "buy" rating to a "strong-buy" rating in a report on Friday, May 30th. JPMorgan Chase & Co. increased their price target on shares of LegalZoom.com from $11.00 to $12.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Finally, Morgan Stanley increased their price target on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an "underweight" rating in a research report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, LegalZoom.com presently has an average rating of "Hold" and a consensus price target of $8.64.

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.