Cornerstone Investment Partners LLC Invests $157,000 in LegalZoom.com, Inc. (NASDAQ:LZ)

Cornerstone Investment Partners LLC purchased a new stake in LegalZoom.com, Inc. (NASDAQ:LZ) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 13,890 shares of the company’s stock, valued at approximately $157,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in LegalZoom.com by 21.0% during the third quarter. Vanguard Group Inc. now owns 12,999,938 shares of the company’s stock worth $142,219,000 after acquiring an additional 2,257,224 shares in the last quarter. BlackRock Inc. lifted its stake in LegalZoom.com by 11.0% in the 2nd quarter. BlackRock Inc. now owns 9,353,457 shares of the company’s stock valued at $112,990,000 after purchasing an additional 929,585 shares during the last quarter. Hawk Ridge Capital Management LP boosted its position in LegalZoom.com by 47.5% in the third quarter. Hawk Ridge Capital Management LP now owns 5,598,836 shares of the company’s stock valued at $61,251,000 after buying an additional 1,802,959 shares in the last quarter. Blair William & Co. IL grew its stake in shares of LegalZoom.com by 166.0% during the third quarter. Blair William & Co. IL now owns 3,476,226 shares of the company’s stock worth $38,030,000 after buying an additional 2,169,132 shares during the last quarter. Finally, Boston Partners increased its holdings in shares of LegalZoom.com by 83.0% during the third quarter. Boston Partners now owns 3,315,845 shares of the company’s stock worth $35,877,000 after buying an additional 1,504,152 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at LegalZoom.com

In related news, EVP Nicole Miller sold 16,536 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $10.64, for a total transaction of $175,943.04. Following the transaction, the executive vice president now directly owns 233,198 shares of the company’s stock, valued at $2,481,226.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Nicole Miller sold 16,536 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $10.64, for a total transaction of $175,943.04. Following the transaction, the executive vice president now directly owns 233,198 shares of the company’s stock, valued at approximately $2,481,226.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John Francis Murphy sold 10,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $12.47, for a total value of $124,700.00. Following the completion of the transaction, the director now owns 40,507 shares in the company, valued at approximately $505,122.29. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,555 shares of company stock valued at $664,688. 44.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LZ. JMP Securities restated a “market outperform” rating and set a $14.00 price objective on shares of LegalZoom.com in a research report on Friday, April 12th. Barclays lowered their price objective on LegalZoom.com from $17.00 to $15.00 and set an “overweight” rating for the company in a research note on Thursday, February 8th. JPMorgan Chase & Co. boosted their target price on shares of LegalZoom.com from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Finally, Raymond James assumed coverage on shares of LegalZoom.com in a research note on Wednesday, March 27th. They set a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.36.

LegalZoom.com Stock Down 0.7 %

LZ opened at $11.73 on Friday. LegalZoom.com, Inc. has a twelve month low of $6.89 and a twelve month high of $15.68. The company has a fifty day moving average of $12.40 and a 200-day moving average of $11.37. The stock has a market cap of $2.20 billion, a PE ratio of 146.64, a price-to-earnings-growth ratio of 4.14 and a beta of 1.23.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. LegalZoom.com had a return on equity of 15.79% and a net margin of 2.11%. The firm had revenue of $158.66 million during the quarter, compared to analyst estimates of $156.25 million. Sell-side analysts anticipate that LegalZoom.com, Inc. will post 0.3 EPS 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.