Allspring Global Investments Holdings LLC Has $10.67 Million Stock Position in LegalZoom.com, Inc. (NASDAQ:LZ)

Allspring Global Investments Holdings LLC boosted its stake in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 3,195.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 943,856 shares of the company's stock after buying an additional 915,214 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.50% of LegalZoom.com worth $10,666,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ameritas Investment Partners Inc. lifted its stake in LegalZoom.com by 17.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,603 shares of the company's stock valued at $104,000 after buying an additional 1,256 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of LegalZoom.com by 117.8% during the 3rd quarter. Lazard Asset Management LLC now owns 2,858 shares of the company's stock worth $31,000 after purchasing an additional 1,546 shares during the period. Alliancebernstein L.P. lifted its stake in shares of LegalZoom.com by 1.5% during the 3rd quarter. Alliancebernstein L.P. now owns 105,973 shares of the company's stock worth $908,000 after purchasing an additional 1,573 shares during the period. Royal Bank of Canada lifted its stake in shares of LegalZoom.com by 49.9% during the 1st quarter. Royal Bank of Canada now owns 5,099 shares of the company's stock worth $72,000 after purchasing an additional 1,697 shares during the period. Finally, Brighton Jones LLC lifted its stake in shares of LegalZoom.com by 7.9% during the 3rd quarter. Brighton Jones LLC now owns 24,382 shares of the company's stock worth $267,000 after purchasing an additional 1,788 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Insider Activity

In other news, COO Richard Preece sold 9,462 shares of the company's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $13.17, for a total value of $124,614.54. Following the completion of the sale, the chief operating officer now owns 498,519 shares in the company, valued at $6,565,495.23. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Richard Preece sold 9,462 shares of the company's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $13.17, for a total value of $124,614.54. Following the completion of the sale, the chief operating officer now owns 498,519 shares in the company, valued at $6,565,495.23. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Francis Murphy sold 10,000 shares of the company's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $12.47, for a total value of $124,700.00. Following the completion of the sale, the director now owns 40,507 shares of the company's stock, valued at approximately $505,122.29. The disclosure for this sale can be found here. Insiders sold a total of 60,555 shares of company stock worth $664,688 over the last 90 days. 44.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on LZ shares. Barclays reduced their price target on LegalZoom.com from $17.00 to $15.00 and set an "overweight" rating on the stock in a research note on Thursday, February 8th. JMP Securities reiterated a "market outperform" rating and issued a $14.00 price target on shares of LegalZoom.com in a report on Friday, April 12th. Raymond James started coverage on LegalZoom.com in a research note on Wednesday, March 27th. They set a "market perform" rating for the company. Finally, JPMorgan Chase & Co. raised their target price on LegalZoom.com from $14.00 to $16.00 and gave the company an "overweight" rating in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $14.36.

LegalZoom.com Trading Down 1.6 %

NASDAQ LZ traded down $0.20 during trading hours on Wednesday, reaching $12.01. The company's stock had a trading volume of 986,621 shares, compared to its average volume of 1,209,490. The business has a 50-day simple moving average of $12.35 and a 200 day simple moving average of $11.36. The stock has a market cap of $2.26 billion, a PE ratio of 150.14, a PEG ratio of 4.35 and a beta of 1.23. LegalZoom.com, Inc. has a 52 week low of $6.89 and a 52 week high of $15.68.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.02. The company had revenue of $158.66 million for the quarter, compared to analysts' expectations of $156.25 million. LegalZoom.com had a return on equity of 15.79% and a net margin of 2.11%. As a group, equities analysts predict that LegalZoom.com, Inc. will post 0.3 EPS for the current year.

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.