Entropy Technologies LP Cuts Holdings in LegalZoom.com, Inc. (NASDAQ:LZ)

Entropy Technologies LP reduced its position in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,966 shares of the company’s stock after selling 1,894 shares during the quarter. Entropy Technologies LP’s holdings in LegalZoom.com were worth $209,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Westwood Holdings Group Inc. increased its holdings in LegalZoom.com by 62.0% in the 1st quarter. Westwood Holdings Group Inc. now owns 4,818,703 shares of the company’s stock worth $64,282,000 after acquiring an additional 1,843,427 shares in the last quarter. Vanguard Group Inc. raised its position in shares of LegalZoom.com by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 16,935,396 shares of the company’s stock worth $225,918,000 after purchasing an additional 1,158,252 shares during the last quarter. Renaissance Technologies LLC lifted its stake in LegalZoom.com by 26.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,466,933 shares of the company’s stock valued at $20,698,000 after buying an additional 521,200 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in LegalZoom.com by 89.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 708,126 shares of the company’s stock worth $9,446,000 after buying an additional 334,865 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in LegalZoom.com by 25.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,287,927 shares of the company’s stock worth $10,806,000 after buying an additional 262,335 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LZ shares. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a research note on Friday, September 13th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $8.00 price objective on shares of LegalZoom.com in a research report on Friday, November 8th. William Blair assumed coverage on LegalZoom.com in a report on Monday, September 16th. They issued a “market perform” rating for the company. Jefferies Financial Group upgraded LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a report on Wednesday, July 31st. Finally, Barclays boosted their price target on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.67.

LegalZoom.com Trading Down 3.3 %

Shares of NASDAQ:LZ opened at $7.73 on Monday. The business has a 50-day moving average price of $6.99 and a 200 day moving average price of $7.43. LegalZoom.com, Inc. has a 12-month low of $5.33 and a 12-month high of $13.74. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 59.47, a PEG ratio of 1.73 and a beta of 1.06.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $168.60 million for the quarter, compared to the consensus estimate of $167.66 million. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The business’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 EPS. As a group, equities research analysts predict that LegalZoom.com, Inc. will post 0.25 earnings per share for the current fiscal year.

About LegalZoom.com

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.