LegalZoom.com (NASDAQ:LZ) Insider Nicole Miller Sells 43,996 Shares

Key Points

• LegalZoom insider Nicole Miller sold 43,996 shares at an average of $5.51, worth $242,417.96. The sale was conducted under a Rule 10b5-1 plan to cover tax withholding on vested equity awards, reducing her stake by 4.31% to 976,932 shares.
• LegalZoom shares rose 4.8% to $5.70, despite trading well below their 12-month high of $12.40. The company recently reported quarterly EPS of $0.16, ahead of estimates, while revenue increased 6.6% year over year to $205.29 million.
• Analyst sentiment remains cautious: five analysts rate the stock Hold and three rate it Sell, producing an average “Reduce” rating and a $7.30 price target. Institutional investors own approximately 81.99% of the company.

LegalZoom.com, Inc. (NASDAQ:LZ - Get Free Report) insider Nicole Miller sold 43,996 shares of the company's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $5.51, for a total value of $242,417.96. Following the transaction, the insider directly owned 976,932 shares in the company, valued at $5,382,895.32. This represents a 4.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.

Nicole Miller also recently made the following trade(s):

• On Tuesday, August 18th, Nicole Miller sold 33,479 shares of LegalZoom.com stock. The shares were sold at an average price of $5.51, for a total transaction of $184,469.29.

LegalZoom.com Stock Up 4.8%

Shares of NASDAQ LZ traded up $0.26 during midday trading on Tuesday, hitting $5.70. The company had a trading volume of 3,028,172 shares, compared to its average volume of 3,127,499. LegalZoom.com, Inc. has a twelve month low of $5.22 and a twelve month high of $12.40. The business has a 50-day simple moving average of $6.67 and a two-hundred day simple moving average of $6.57. The firm has a market capitalization of $976.18 million, a price-to-earnings ratio of 63.33, a price-to-earnings-growth ratio of 1.06 and a beta of 1.28.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on LZ shares. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of LegalZoom.com in a report on Thursday, July 2nd. UBS Group lowered their target price on LegalZoom.com from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Thursday, May 7th. Wall Street Zen downgraded LegalZoom.com from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $7.00 price objective (down from $8.00) on shares of LegalZoom.com in a research report on Thursday, August 6th. Finally, William Blair lowered shares of LegalZoom.com from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 6th. 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 MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $7.30.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Osaic Holdings Inc. increased its holdings in shares of LegalZoom.com by 477.3% during the 2nd quarter. Osaic Holdings Inc. now owns 4,555 shares of the company's stock worth $41,000 after buying an additional 3,766 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in LegalZoom.com by 976.4% during the second quarter. EverSource Wealth Advisors LLC now owns 4,564 shares of the company's stock valued at $41,000 after buying an additional 4,140 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in LegalZoom.com by 11,415.2% during the first quarter. PNC Financial Services Group Inc. now owns 7,600 shares of the company's stock worth $43,000 after buying an additional 7,534 shares during the period. Parallel Advisors LLC increased its position in shares of LegalZoom.com by 8,589.8% in the third quarter. Parallel Advisors LLC now owns 5,127 shares of the company's stock worth $53,000 after acquiring an additional 5,068 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new position in shares of LegalZoom.com in the 1st quarter valued at $58,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

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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