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 shares of 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. The firm bought 32,593 shares of the company's stock, valued at approximately $281,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Wyoming lifted its position in shares of LegalZoom.com by 42.1% during the 4th quarter. State of Wyoming now owns 8,347 shares of the company's stock worth $63,000 after purchasing an additional 2,475 shares during the last quarter. GAMMA Investing LLC raised its position in shares of LegalZoom.com by 2,750.6% during 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 during the last quarter. Aigen Investment Management LP purchased a new position in shares of LegalZoom.com during the 4th quarter worth $76,000. Quantessence Capital LLC acquired a new position in shares of LegalZoom.com in the 4th quarter valued at about $78,000. Finally, Sei Investments Co. purchased a new stake in shares of LegalZoom.com during the fourth quarter valued at approximately $83,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

LegalZoom.com Stock Performance

LZ traded up $0.20 during midday trading on Thursday, reaching $9.17. 1,635,692 shares of the company were exchanged, compared to its average volume of 1,725,504. The company's fifty day moving average price is $8.94 and its 200 day moving average price is $8.61. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 53.94, a price-to-earnings-growth ratio of 3.82 and a beta of 1.23. LegalZoom.com, Inc. has a one year low of $5.56 and a one year high of $10.60.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on LZ shares. JMP Securities reissued a "market perform" rating on shares of LegalZoom.com in a research note on Thursday, May 15th. Morgan Stanley increased their price target on LegalZoom.com from $7.00 to $8.00 and gave the stock an "underweight" rating in a research report on Friday, May 9th. 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 research report on Monday, May 19th. Finally, Wall Street Zen upgraded LegalZoom.com from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $8.64.

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.