Nicole Miller Sells 33,479 Shares of LegalZoom.com (NASDAQ:LZ) Stock

Key Points

• Nicole Miller sold 33,479 LegalZoom shares for approximately $184,469 at an average price of $5.51, reducing her stake by 3.43% to 943,453 shares. The sale was conducted under a Rule 10b5-1 plan to cover tax obligations from vested equity awards.
• LegalZoom shares traded at $5.70, near their 12-month low of $5.22 and well below the 12-month high of $12.40. The company recently modestly exceeded quarterly EPS expectations, reporting $0.16 versus the $0.15 consensus, while revenue rose 6.6% year over year.
• Analyst sentiment is cautious: five analysts rate the stock Hold and three rate it Sell, producing an average rating of “Reduce” and a consensus price target of $7.30.

LegalZoom.com, Inc. (NASDAQ:LZ - Get Free Report) insider Nicole Miller sold 33,479 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $5.51, for a total value of $184,469.29. Following the transaction, the insider owned 943,453 shares of the company's stock, valued at $5,198,426.03. The trade was a 3.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 Monday, August 17th, Nicole Miller sold 43,996 shares of LegalZoom.com stock. The shares were sold at an average price of $5.51, for a total value of $242,417.96.

LegalZoom.com Stock Performance

NASDAQ LZ traded up $0.26 during trading on Tuesday, hitting $5.70. 3,028,172 shares of the company's stock traded hands, compared to its average volume of 3,127,499. The stock has a market capitalization of $976.18 million, a price-to-earnings ratio of 63.33, a PEG ratio of 1.06 and a beta of 1.28. LegalZoom.com, Inc. has a 12-month low of $5.22 and a 12-month high of $12.40. The business has a 50 day moving average of $6.67 and a 200-day moving average of $6.57.

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 analysts' consensus estimates of $0.15 by $0.01. The firm had revenue of $205.29 million during 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 company's quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the business earned $0.15 earnings per share. On average, analysts expect that LegalZoom.com, Inc. will post 0.32 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Osaic Holdings Inc. grew its position 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 valued at $41,000 after purchasing an additional 3,766 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of LegalZoom.com by 976.4% in the second quarter. EverSource Wealth Advisors LLC now owns 4,564 shares of the company's stock worth $41,000 after buying an additional 4,140 shares in the last quarter. PNC Financial Services Group Inc. boosted 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 valued at $43,000 after buying an additional 7,534 shares during the period. Parallel Advisors LLC boosted its stake in LegalZoom.com by 8,589.8% during the third quarter. Parallel Advisors LLC now owns 5,127 shares of the company's stock valued at $53,000 after buying an additional 5,068 shares during the period. Finally, Cetera Investment Advisers bought a new stake in LegalZoom.com during the first quarter valued at $58,000. 81.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on LZ shares. 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 downgraded LegalZoom.com from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $7.00 price target (down from $8.00) on shares of LegalZoom.com in a report on Thursday, August 6th. UBS Group reduced their price target on LegalZoom.com from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Thursday, May 7th. Finally, Citigroup dropped their price objective on LegalZoom.com from $8.50 to $7.50 and set a "neutral" rating on the stock in a report on Friday, May 22nd. Five equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $7.30.

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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