LegalZoom.com, Inc. (NASDAQ:LZ) Shares Sold by Blair William & Co. IL

Blair William & Co. IL cut its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 61.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,479,345 shares of the company’s stock after selling 2,357,047 shares during the period. Blair William & Co. IL’s holdings in LegalZoom.com were worth $12,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in LZ. Victory Capital Management Inc. purchased a new stake in LegalZoom.com in the 4th quarter worth approximately $191,000. Swiss National Bank boosted its holdings in LegalZoom.com by 24.0% during the fourth quarter. Swiss National Bank now owns 208,500 shares of the company’s stock worth $2,356,000 after buying an additional 40,400 shares in the last quarter. Amalgamated Bank grew its position in LegalZoom.com by 9.6% during the fourth quarter. Amalgamated Bank now owns 17,055 shares of the company’s stock valued at $193,000 after buying an additional 1,495 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in LegalZoom.com by 15.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,047,140 shares of the company’s stock valued at $11,833,000 after buying an additional 138,702 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of LegalZoom.com in the fourth quarter worth about $295,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on LZ. Citigroup cut LegalZoom.com from a “buy” rating to a “neutral” rating and dropped their target price for the company from $15.00 to $8.00 in a research report on Wednesday, July 10th. Barclays cut LegalZoom.com from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 10th. Bank of America lowered LegalZoom.com from a “buy” rating to an “underperform” rating and decreased their target price for the company from $13.00 to $6.00 in a research report on Wednesday, July 10th. JPMorgan Chase & Co. cut their price target on shares of LegalZoom.com from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $9.79.

LegalZoom.com Stock Performance

Shares of LZ stock opened at $6.70 on Friday. LegalZoom.com, Inc. has a fifty-two week low of $5.33 and a fifty-two week high of $13.74. The stock’s fifty day moving average is $6.37 and its two-hundred day moving average is $9.17. The firm has a market capitalization of $1.26 billion, a P/E ratio of 60.91, a PEG ratio of 2.03 and a beta of 1.10.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.10 earnings per share for the quarter, topping 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 firm had revenue of $177.36 million for the quarter, compared to the consensus estimate of $172.92 million. During the same period last year, the firm posted $0.02 earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities analysts forecast that LegalZoom.com, Inc. will post 0.23 earnings per share for the current 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.