Handelsbanken Fonder AB Purchases 7,300 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

Handelsbanken Fonder AB grew its position in LegalZoom.com, Inc. (NASDAQ:LZ) by 40.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,400 shares of the company’s stock after buying an additional 7,300 shares during the quarter. Handelsbanken Fonder AB’s holdings in LegalZoom.com were worth $161,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in LegalZoom.com by 64.7% during the fourth quarter. Wellington Management Group LLP now owns 1,974,236 shares of the company’s stock valued at $22,309,000 after buying an additional 775,775 shares during the period. Vanguard Group Inc. increased its holdings in shares of LegalZoom.com by 21.4% in the 4th quarter. Vanguard Group Inc. now owns 15,777,144 shares of the company’s stock valued at $178,282,000 after acquiring an additional 2,777,206 shares during the period. Nomura Holdings Inc. bought a new position in shares of LegalZoom.com in the 4th quarter worth $120,000. FCF Advisors LLC purchased a new stake in shares of LegalZoom.com during the 1st quarter worth $781,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in LegalZoom.com during the first quarter valued at about $135,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

LegalZoom.com Stock Performance

Shares of LZ stock opened at $6.62 on Tuesday. LegalZoom.com, Inc. has a fifty-two week low of $5.33 and a fifty-two week high of $13.74. The firm has a market capitalization of $1.25 billion, a PE ratio of 60.18, a P/E/G ratio of 2.03 and a beta of 1.10. The stock’s 50-day simple moving average is $6.40 and its 200-day simple moving average is $8.29.

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

Analysts Set New Price Targets

Several research firms have commented on LZ. Barclays lowered shares of LegalZoom.com from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 10th. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a research note on Friday, September 13th. Bank of America downgraded LegalZoom.com from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $13.00 to $6.00 in a research report on Wednesday, July 10th. Jefferies Financial Group raised LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Wednesday, July 31st. Finally, William Blair started coverage on LegalZoom.com in a research report on Monday, September 16th. They set a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $9.79.

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.