32,593 Shares in LegalZoom.com, Inc. (NASDAQ:LZ) Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC bought a new stake in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) in the 1st quarter, according to 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 bought and sold shares of the company. Brighton Jones LLC bought a new stake in LegalZoom.com in the 4th quarter valued at $185,000. US Bancorp DE raised its position in shares of LegalZoom.com by 1,624.3% in the fourth quarter. US Bancorp DE now owns 32,658 shares of the company's stock valued at $245,000 after buying an additional 30,764 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of LegalZoom.com by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,232,747 shares of the company's stock valued at $9,258,000 after buying an additional 34,914 shares during the period. Aigen Investment Management LP acquired a new stake in LegalZoom.com during the fourth quarter worth approximately $76,000. Finally, AlphaQuest LLC increased its stake in LegalZoom.com by 199,195.3% during the 4th quarter. AlphaQuest LLC now owns 85,697 shares of the company's stock worth $644,000 after acquiring an additional 85,654 shares during the period. Institutional investors own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

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

LegalZoom.com Stock Down 2.8%

NASDAQ LZ traded down $0.25 on Friday, reaching $8.92. The company had a trading volume of 888,464 shares, compared to its average volume of 1,723,557. The company's fifty day moving average is $8.94 and its 200 day moving average is $8.61. 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 $1.62 billion, a P/E ratio of 52.45, a P/E/G ratio of 3.82 and a beta of 1.23.

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