The Manufacturers Life Insurance Company Purchases 9,455 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

The Manufacturers Life Insurance Company grew its position in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 13.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,392 shares of the company’s stock after buying an additional 9,455 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in LegalZoom.com were worth $674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of LZ. Blair William & Co. IL increased its stake in LegalZoom.com by 5.4% in the 1st quarter. Blair William & Co. IL now owns 3,836,392 shares of the company’s stock worth $51,177,000 after buying an additional 195,512 shares in the last quarter. Vanguard Group Inc. increased its stake in LegalZoom.com by 21.4% in the 4th quarter. Vanguard Group Inc. now owns 15,777,144 shares of the company’s stock worth $178,282,000 after buying an additional 2,777,206 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its stake in LegalZoom.com by 148.3% in the 1st quarter. Susquehanna Fundamental Investments LLC now owns 70,797 shares of the company’s stock worth $944,000 after buying an additional 42,288 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in LegalZoom.com by 42.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,347,117 shares of the company’s stock worth $17,971,000 after buying an additional 403,261 shares in the last quarter. Finally, Swiss National Bank increased its stake in LegalZoom.com by 15.7% in the 1st quarter. Swiss National Bank now owns 241,200 shares of the company’s stock worth $3,218,000 after buying an additional 32,700 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

LegalZoom.com Trading Down 0.9 %

LegalZoom.com stock opened at $6.62 on Tuesday. LegalZoom.com, Inc. has a 52 week low of $5.33 and a 52 week high of $13.74. The company’s 50-day moving average price is $6.40 and its two-hundred day moving average price is $8.29. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 60.18, a PEG ratio of 2.03 and a beta of 1.10.

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

Analysts Set New Price Targets

A number of research analysts recently commented on LZ shares. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a report on Friday, September 13th. Citigroup downgraded shares of LegalZoom.com from a “buy” rating to a “neutral” rating and lowered their price target for the company from $15.00 to $8.00 in a report on Wednesday, July 10th. Barclays downgraded shares of LegalZoom.com from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 10th. Jefferies Financial Group raised shares of LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a report on Wednesday, July 31st. Finally, Bank of America downgraded shares of LegalZoom.com from a “buy” rating to an “underperform” rating and lowered their price target for the company from $13.00 to $6.00 in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $9.79.

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.