Point72 DIFC Ltd Buys New Position in LegalZoom.com, Inc. (NASDAQ:LZ)

Point72 DIFC Ltd purchased a new position in shares of LegalZoom.com, Inc. (NASDAQ:LZ) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 8,450 shares of the company’s stock, valued at approximately $71,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Quarry LP increased its stake in LegalZoom.com by 318.9% in the 2nd quarter. Quarry LP now owns 4,474 shares of the company’s stock valued at $38,000 after buying an additional 3,406 shares during the last quarter. nVerses Capital LLC bought a new position in shares of LegalZoom.com in the second quarter valued at approximately $114,000. Magnetar Financial LLC purchased a new stake in shares of LegalZoom.com during the second quarter valued at approximately $115,000. Nomura Holdings Inc. bought a new stake in LegalZoom.com during the fourth quarter worth $120,000. Finally, Counterpoint Mutual Funds LLC purchased a new position in LegalZoom.com in the first quarter worth $135,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. 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. William Blair began coverage on shares of LegalZoom.com in a report on Monday, September 16th. They set a “market perform” rating for the company. Jefferies Financial Group upgraded shares of LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a research note on Wednesday, July 31st. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a research note on Friday, September 13th. Finally, JPMorgan Chase & Co. lowered their price target on shares of LegalZoom.com from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $9.79.

LegalZoom.com Stock Down 2.0 %

NASDAQ LZ opened at $6.36 on Thursday. The firm has a market cap of $1.20 billion, a P/E ratio of 57.82, a price-to-earnings-growth ratio of 2.08 and a beta of 1.10. The company’s 50 day moving average is $6.39 and its 200-day moving average is $8.70. LegalZoom.com, Inc. has a 12-month low of $5.33 and a 12-month high of $13.74.

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