Jump Financial LLC Sells 147,830 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

Jump Financial LLC cut its stake in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 81.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,022 shares of the company's stock after selling 147,830 shares during the period. Jump Financial LLC's holdings in LegalZoom.com were worth $256,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aigen Investment Management LP acquired a new position in LegalZoom.com during the fourth quarter valued at approximately $76,000. Olympiad Research LP acquired a new position in shares of LegalZoom.com during the 4th quarter worth $78,000. Sei Investments Co. bought a new stake in shares of LegalZoom.com during the 4th quarter worth $83,000. Cibc World Markets Corp bought a new stake in shares of LegalZoom.com during the 4th quarter worth $90,000. Finally, Lexington Partners L.P. acquired a new stake in LegalZoom.com in the fourth quarter valued at about $103,000. 81.99% of the stock is owned by institutional investors and hedge funds.

LegalZoom.com Stock Performance

Shares of NASDAQ LZ traded down $0.08 during midday trading on Friday, reaching $7.24. The stock had a trading volume of 1,104,631 shares, compared to its average volume of 1,824,431. The company's 50 day moving average price is $8.41 and its 200 day moving average price is $8.19. LegalZoom.com, Inc. has a twelve month low of $5.33 and a twelve month high of $12.30. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 55.66, a price-to-earnings-growth ratio of 1.73 and a beta of 1.13.

Analysts Set New Price Targets

A number of research firms have recently commented on LZ. Morgan Stanley dropped their target price on shares of LegalZoom.com from $10.00 to $7.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Barclays boosted their target price on shares of LegalZoom.com from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 27th. JMP Securities reissued a "market perform" rating on shares of LegalZoom.com in a report on Friday, April 11th. JPMorgan Chase & Co. boosted their price objective on LegalZoom.com from $9.00 to $11.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 11th. Finally, William Blair reiterated a "market perform" rating on shares of LegalZoom.com in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $9.06.

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.