Y Intercept Hong Kong Ltd Purchases 152,312 Shares of LegalZoom.com, Inc. $LZ

Key Points

• Y Intercept Hong Kong Ltd boosted its LegalZoom.com stake by 46% in the first quarter, buying 152,312 additional shares and bringing its total holding to 483,664 shares valued at about $2.74 million.
• LegalZoom reported Q1 revenue of $206.78 million, up 12.9% year over year and above estimates, but earnings of $0.12 per share slightly missed consensus by $0.01.
• Wall Street sentiment on LZ remains mixed: analysts have an average Hold rating with a $8.25 target price, while recent moves included several target cuts and one downgrade to hold.

Y Intercept Hong Kong Ltd increased its position in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 46.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 483,664 shares of the company's stock after buying an additional 152,312 shares during the period. Y Intercept Hong Kong Ltd owned 0.28% of LegalZoom.com worth $2,742,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jupiter Asset Management Ltd. grew its position in shares of LegalZoom.com by 255.5% in the fourth quarter. Jupiter Asset Management Ltd. now owns 231,773 shares of the company's stock valued at $2,302,000 after purchasing an additional 166,574 shares during the last quarter. UBS Group AG lifted its position in shares of LegalZoom.com by 87.9% during the 4th quarter. UBS Group AG now owns 613,537 shares of the company's stock worth $6,092,000 after purchasing an additional 287,063 shares during the last quarter. Invenomic Capital Management LP boosted its stake in LegalZoom.com by 43.9% during the 3rd quarter. Invenomic Capital Management LP now owns 1,281,765 shares of the company's stock valued at $13,305,000 after purchasing an additional 390,742 shares during the period. JPMorgan Chase & Co. grew its holdings in LegalZoom.com by 60.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,170,327 shares of the company's stock valued at $22,528,000 after buying an additional 817,462 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. increased its position in LegalZoom.com by 23.6% in the 4th quarter. Punch & Associates Investment Management Inc. now owns 2,627,047 shares of the company's stock worth $26,087,000 after buying an additional 500,787 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

LegalZoom.com Price Performance

Shares of LegalZoom.com stock opened at $7.33 on Wednesday. LegalZoom.com, Inc. has a 52-week low of $5.22 and a 52-week high of $12.40. The firm has a market capitalization of $1.26 billion, a PE ratio of 122.19, a price-to-earnings-growth ratio of 1.24 and a beta of 1.31. The company's fifty day moving average price is $6.18 and its two-hundred day moving average price is $7.10.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). LegalZoom.com had a net margin of 1.46% and a return on equity of 11.53%. The business had revenue of $206.78 million for the quarter, compared to analyst estimates of $202.14 million. LegalZoom.com's revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.13 earnings per share. Analysts predict that LegalZoom.com, Inc. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LZ has been the subject of several research reports. UBS Group reduced their price objective on LegalZoom.com from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Thursday, May 7th. JPMorgan Chase & Co. cut their target price on shares of LegalZoom.com from $11.00 to $8.00 and set an "overweight" rating for the company in a research note on Wednesday, June 24th. Wall Street Zen lowered shares of LegalZoom.com from a "buy" rating to a "hold" rating in a research report on Saturday. Citigroup dropped their price objective on shares of LegalZoom.com from $8.50 to $7.50 and set a "neutral" rating on the stock in a report on Friday, May 22nd. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of LegalZoom.com in a research report on Thursday, July 2nd. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $8.25.

Insider Transactions at LegalZoom.com

In related news, CEO Jeffrey M. Stibel bought 125,000 shares of the company's stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $6.15 per share, with a total value of $768,750.00. Following the acquisition, the chief executive officer owned 2,955,609 shares in the company, valued at approximately $18,176,995.35. This represents a 4.42% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicole Miller sold 19,199 shares of the business's stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $6.58, for a total value of $126,329.42. Following the completion of the sale, the insider directly owned 1,119,222 shares in the company, valued at approximately $7,364,480.76. This represents a 1.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 5.90% of the stock is currently owned by insiders.

LegalZoom.com Profile

LegalZoom.com, Inc NASDAQ: LZ operates as a leading online legal technology company that provides a broad range of legal and business services to individuals, families and small businesses. Through its digital platform, the company offers customized legal documents and filing services, including business formation (LLCs, corporations and nonprofits), estate planning (wills and trusts), intellectual property protection (trademarks and copyrights), and ongoing compliance support. LegalZoom also connects customers with independent attorneys for consultations on matters such as family law, immigration and real estate.

Founded in 2001 by entrepreneurs Brian Lee, Brian P.

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