LegalZoom.com, Inc. (NASDAQ:LZ) Short Interest Update

LegalZoom.com, Inc. (NASDAQ:LZ - Get Free Report) saw a large decrease in short interest in April. As of April 15th, there was short interest totalling 5,460,000 shares, a decrease of 14.7% from the March 31st total of 6,400,000 shares. Approximately 4.6% of the company's shares are short sold. Based on an average daily volume of 2,300,000 shares, the short-interest ratio is currently 2.4 days.

Institutional Trading of LegalZoom.com

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of LegalZoom.com by 14.5% in the fourth quarter. Vanguard Group Inc. now owns 20,271,769 shares of the company's stock valued at $152,241,000 after buying an additional 2,574,700 shares in the last quarter. Nuveen Asset Management LLC grew its position in LegalZoom.com by 297.9% in the fourth quarter. Nuveen Asset Management LLC now owns 1,171,584 shares of the company's stock valued at $8,799,000 after acquiring an additional 877,125 shares in the last quarter. Norges Bank purchased a new stake in shares of LegalZoom.com during the fourth quarter valued at approximately $5,769,000. Ararat Capital Management LP lifted its position in shares of LegalZoom.com by 26.6% during the fourth quarter. Ararat Capital Management LP now owns 3,248,482 shares of the company's stock worth $24,396,000 after purchasing an additional 682,678 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of LegalZoom.com by 103.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,153,409 shares of the company's stock valued at $8,662,000 after purchasing an additional 585,734 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LZ has been the subject of several analyst reports. Morgan Stanley cut their price target on LegalZoom.com from $10.00 to $7.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. upped their target price on LegalZoom.com from $9.00 to $11.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. JMP Securities reissued a "market perform" rating on shares of LegalZoom.com in a research note on Friday, April 11th. Barclays upped their price objective on shares of LegalZoom.com from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. Finally, William Blair reissued a "market perform" rating on shares of LegalZoom.com in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $9.06.

LegalZoom.com Stock Up 1.0 %

LZ opened at $7.38 on Friday. The company has a 50 day moving average of $8.38 and a two-hundred day moving average of $8.19. LegalZoom.com has a 52-week low of $5.33 and a 52-week high of $12.30. The company has a market cap of $1.30 billion, a P/E ratio of 56.77, a P/E/G ratio of 1.73 and a beta of 1.13.

About LegalZoom.com

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.

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