Renaissance Technologies LLC Raises Position in LegalZoom.com, Inc. (NASDAQ:LZ)

Renaissance Technologies LLC grew its position in LegalZoom.com, Inc. (NASDAQ:LZ) by 26.8% during the 2nd quarter, Holdings Channel reports. The fund owned 2,466,933 shares of the company’s stock after buying an additional 521,200 shares during the quarter. Renaissance Technologies LLC’s holdings in LegalZoom.com were worth $20,698,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in LZ. Technology Crossover Management IX Ltd. lifted its stake in shares of LegalZoom.com by 14.6% in the fourth quarter. Technology Crossover Management IX Ltd. now owns 16,396,313 shares of the company’s stock valued at $185,278,000 after purchasing an additional 2,094,240 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 purchasing an additional 138,702 shares during the period. Blair William & Co. IL lifted its stake in shares of LegalZoom.com by 5.4% in the first quarter. Blair William & Co. IL now owns 3,836,392 shares of the company’s stock valued at $51,177,000 after purchasing an additional 195,512 shares during the period. Vanguard Group Inc. lifted its stake in shares of LegalZoom.com by 21.4% in the fourth quarter. Vanguard Group Inc. now owns 15,777,144 shares of the company’s stock valued at $178,282,000 after purchasing an additional 2,777,206 shares during the period. Finally, Hawk Ridge Capital Management LP lifted its stake in shares of LegalZoom.com by 2.4% in the fourth quarter. Hawk Ridge Capital Management LP now owns 5,734,353 shares of the company’s stock valued at $64,798,000 after purchasing an additional 135,517 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

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

LegalZoom.com Price Performance

Shares of NASDAQ LZ opened at $6.62 on Friday. The company has a market cap of $1.25 billion, a PE ratio of 60.18, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10. LegalZoom.com, Inc. has a 12 month low of $5.33 and a 12 month high of $13.74. The company has a 50-day simple moving average of $6.39 and a 200-day simple moving average of $9.15.

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. The business had revenue of $177.36 million during the quarter, compared to the consensus estimate of $172.92 million. LegalZoom.com had a net margin of 3.10% and a return on equity of 22.36%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.02 earnings per share. On average, analysts anticipate that LegalZoom.com, Inc. will post 0.23 EPS 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.