Insider Selling: LegalZoom.com (NASDAQ:LZ) CFO Sells 83,629 Shares

Key Points

• LegalZoom CFO Noel Bertram Watson sold 83,629 shares at an average price of $5.83, generating approximately $487,557 and reducing his holdings by 5.61%. He also sold 416,371 shares the previous day.
• LegalZoom shares closed at $5.84, near the lower end of their 52-week range of $5.22 to $12.40. The stock trades below its 50-day and 200-day moving averages.
• Analyst sentiment is cautious, with a consensus “Reduce” rating and a $7.30 target price. The company recently slightly exceeded quarterly EPS expectations, while revenue rose 6.6% year over year.

LegalZoom.com, Inc. (NASDAQ:LZ - Get Free Report) CFO Noel Bertram Watson sold 83,629 shares of LegalZoom.com stock in a transaction on Friday, August 21st. The shares were sold at an average price of $5.83, for a total transaction of $487,557.07. Following the completion of the transaction, the chief financial officer owned 1,407,801 shares in the company, valued at approximately $8,207,479.83. This trade represents a 5.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Noel Bertram Watson also recently made the following trade(s):

• On Thursday, August 20th, Noel Bertram Watson sold 416,371 shares of LegalZoom.com stock. The shares were sold at an average price of $5.91, for a total transaction of $2,460,752.61.

LegalZoom.com Stock Performance

LZ traded down $0.02 on Friday, reaching $5.84. 2,094,701 shares of the company's stock were exchanged, compared to its average volume of 3,302,388. LegalZoom.com, Inc. has a twelve month low of $5.22 and a twelve month high of $12.40. The company's 50 day moving average is $6.67 and its 200-day moving average is $6.50. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 64.89, a PEG ratio of 1.10 and a beta of 1.28.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. LegalZoom.com had a return on equity of 15.83% and a net margin of 2.13%.The business had revenue of $205.29 million for the quarter, compared to the consensus estimate of $205.83 million. During the same period last year, the business posted $0.15 EPS. The company's revenue was up 6.6% on a year-over-year basis. Sell-side analysts forecast that LegalZoom.com, Inc. will post 0.32 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on LZ. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $7.00 price objective (down from $8.00) on shares of LegalZoom.com in a research note on Thursday, August 6th. UBS Group dropped their target price on shares of LegalZoom.com from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Thursday, May 7th. Wall Street Zen lowered shares of LegalZoom.com from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. William Blair cut shares of LegalZoom.com from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 6th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of LegalZoom.com in a research note on Thursday, July 2nd. Five investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, LegalZoom.com presently has a consensus rating of "Reduce" and a consensus target price of $7.30.

Institutional Investors Weigh In On LegalZoom.com

A number of hedge funds have recently made changes to their positions in the business. EP Wealth Advisors LLC increased its position in shares of LegalZoom.com by 2.8% in the second quarter. EP Wealth Advisors LLC now owns 41,352 shares of the company's stock worth $368,000 after purchasing an additional 1,139 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of LegalZoom.com by 37.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,179 shares of the company's stock valued at $51,000 after acquiring an additional 1,403 shares in the last quarter. Prelude Capital Management LLC lifted its stake in shares of LegalZoom.com by 11.6% in the 3rd quarter. Prelude Capital Management LLC now owns 14,185 shares of the company's stock valued at $147,000 after purchasing an additional 1,470 shares during the period. Chase Investment Counsel Corp raised its position in shares of LegalZoom.com by 12.3% in the 4th quarter. Chase Investment Counsel Corp now owns 13,601 shares of the company's stock worth $135,000 after purchasing an additional 1,489 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of LegalZoom.com by 2.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 59,862 shares of the company's stock worth $594,000 after acquiring an additional 1,705 shares during the period. Institutional investors own 81.99% of the company's stock.

LegalZoom.com Company 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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