Rhumbline Advisers Acquires 17,697 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

Rhumbline Advisers boosted its holdings in LegalZoom.com, Inc. (NASDAQ:LZ) by 10.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 188,693 shares of the company’s stock after purchasing an additional 17,697 shares during the period. Rhumbline Advisers owned approximately 0.10% of LegalZoom.com worth $1,583,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LZ. nVerses Capital LLC bought a new position in shares of LegalZoom.com during the second quarter valued at about $114,000. Nomura Holdings Inc. bought a new position in LegalZoom.com during the 4th quarter valued at approximately $120,000. Counterpoint Mutual Funds LLC purchased a new stake in LegalZoom.com in the 1st quarter worth approximately $135,000. Ameritas Investment Partners Inc. grew its position in shares of LegalZoom.com by 8.8% in the 1st quarter. Ameritas Investment Partners Inc. now owns 13,345 shares of the company’s stock worth $178,000 after buying an additional 1,074 shares during the last quarter. Finally, Ascent Group LLC increased its stake in shares of LegalZoom.com by 27.6% during the first quarter. Ascent Group LLC now owns 13,650 shares of the company’s stock valued at $182,000 after buying an additional 2,950 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of LegalZoom.com from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Citigroup lowered LegalZoom.com from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $15.00 to $8.00 in a research report on Wednesday, July 10th. William Blair initiated coverage on LegalZoom.com in a research note on Monday, September 16th. They issued a “market perform” rating on the stock. JMP Securities reissued a “market perform” rating on shares of LegalZoom.com in a research report on Friday, September 13th. Finally, Jefferies Financial Group raised shares of LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, LegalZoom.com currently has an average rating of “Hold” and an average price target of $9.79.

LegalZoom.com Trading Down 1.2 %

LZ opened at $6.62 on Friday. The firm’s 50 day simple moving average is $6.39 and its two-hundred day simple moving average is $9.15. The company has a market capitalization of $1.25 billion, a PE ratio of 60.18, a PEG ratio of 2.03 and a beta of 1.10. LegalZoom.com, Inc. has a 1-year low of $5.33 and a 1-year high of $13.74.

LegalZoom.com (NASDAQ:LZ) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. LegalZoom.com had a return on equity of 22.36% and a net margin of 3.10%. The business had revenue of $177.36 million during the quarter, compared to analysts’ expectations of $172.92 million. During the same quarter in the prior year, the business posted $0.02 earnings per share. The business’s quarterly revenue was up 5.0% on a year-over-year basis. Equities analysts forecast that LegalZoom.com, Inc. will post 0.23 earnings per share for the current fiscal year.

LegalZoom.com Company 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.