Noel Bertram Watson Sells 15,000 Shares of LegalZoom.com (NASDAQ:LZ) Stock

Key Points

• LegalZoom CFO Noel Bertram Watson sold 15,000 shares on May 18 at an average price of $6.45, totaling $96,750. The sale was made under a pre-arranged 10b5-1 plan to cover tax withholding related to vested equity awards.
• LegalZoom recently reported mixed quarterly results, posting $0.12 EPS versus $0.13 expected, while revenue came in at $206.78 million, above estimates and up 12.9% year over year.
• Analyst sentiment remains cautious, with a consensus rating of “Hold” and an average price target of $9.25. The stock also closed around $6.37, near the lower end of its 52-week range.

LegalZoom.com, Inc. (NASDAQ:LZ - Get Free Report) CFO Noel Bertram Watson sold 15,000 shares of LegalZoom.com stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $6.45, for a total value of $96,750.00. Following the transaction, the chief financial officer owned 2,041,847 shares of the company's stock, valued at $13,169,913.15. The trade was a 0.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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.

Noel Bertram Watson also recently made the following trade(s):

• On Wednesday, February 18th, Noel Bertram Watson sold 15,000 shares of LegalZoom.com stock. The shares were sold at an average price of $6.96, for a total value of $104,400.00.

LegalZoom.com Stock Performance

LZ traded down $0.21 during trading hours on Tuesday, reaching $6.37. The company's stock had a trading volume of 4,133,575 shares, compared to its average volume of 3,299,159. LegalZoom.com, Inc. has a 52 week low of $5.28 and a 52 week high of $12.40. The company's 50-day moving average is $6.15 and its 200-day moving average is $8.01. The firm has a market cap of $1.09 billion, a PE ratio of 106.18, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $206.78 million for the quarter, compared to the consensus estimate of $202.14 million. LegalZoom.com had a return on equity of 11.53% and a net margin of 1.46%.The business's quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 EPS. Equities analysts anticipate that LegalZoom.com, Inc. will post 0.27 earnings per share for the current fiscal year.

LegalZoom.com declared that its Board of Directors has approved a stock buyback program on Thursday, February 19th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 8.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Parkside Financial Bank & Trust bought a new stake in shares of LegalZoom.com in the third quarter worth $40,000. Clearstead Advisors LLC grew its stake in shares of LegalZoom.com by 58.5% in the third quarter. Clearstead Advisors LLC now owns 3,906 shares of the company's stock worth $41,000 after purchasing an additional 1,441 shares during the last quarter. Osaic Holdings Inc. grew its stake in shares of LegalZoom.com by 477.3% in the second quarter. Osaic Holdings Inc. now owns 4,555 shares of the company's stock worth $41,000 after purchasing an additional 3,766 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake 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 purchasing an additional 4,140 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of LegalZoom.com by 11,415.2% in the first quarter. PNC Financial Services Group Inc. now owns 7,600 shares of the company's stock worth $43,000 after purchasing an additional 7,534 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

Wall Street Analyst Weigh In

LZ has been the subject of a number of recent analyst reports. Zacks Research upgraded LegalZoom.com from a "strong sell" rating to a "hold" rating in a research report on Monday, February 23rd. JPMorgan Chase & Co. cut their target price on LegalZoom.com from $14.00 to $11.00 and set an "overweight" rating for the company in a research report on Wednesday, February 18th. Barclays reissued an "underweight" rating and issued a $6.00 target price (down from $9.00) on shares of LegalZoom.com in a report on Wednesday, March 4th. Weiss Ratings lowered shares of LegalZoom.com from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, April 6th. Finally, UBS Group decreased their target price on shares of LegalZoom.com from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $9.25.

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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