LegalZoom.com, Inc. $LZ Stock Holdings Trimmed by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL lessened its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 54.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 495,280 shares of the company’s stock after selling 585,671 shares during the quarter. Tudor Investment Corp ET AL’s holdings in LegalZoom.com were worth $5,141,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Boston Partners bought a new stake in shares of LegalZoom.com during the third quarter valued at about $20,686,000. Neumeier Poma Investment Counsel LLC bought a new stake in shares of LegalZoom.com during the 3rd quarter worth about $18,106,000. Qube Research & Technologies Ltd lifted its stake in shares of LegalZoom.com by 180.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,797,252 shares of the company’s stock worth $16,014,000 after acquiring an additional 1,156,462 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of LegalZoom.com by 507.3% in the second quarter. Lazard Asset Management LLC now owns 1,104,734 shares of the company’s stock valued at $9,842,000 after acquiring an additional 922,829 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of LegalZoom.com by 60.4% in the third quarter. JPMorgan Chase & Co. now owns 2,170,327 shares of the company’s stock valued at $22,528,000 after acquiring an additional 817,462 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Insiders Place Their Bets

In other news, insider Nicole Miller sold 23,325 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $6.63, for a total value of $154,644.75. Following the completion of the sale, the insider owned 813,033 shares in the company, valued at $5,390,408.79. This represents a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Noel Bertram Watson sold 15,000 shares of LegalZoom.com stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $6.96, for a total value of $104,400.00. Following the transaction, the chief financial officer owned 1,480,860 shares in the company, valued at $10,306,785.60. This represents a 1.00% decrease in their position. The SEC filing for this sale provides additional information. 5.90% of the stock is owned by corporate insiders.

LegalZoom.com Price Performance

Shares of LZ opened at $5.98 on Wednesday. The company has a 50-day moving average of $7.37 and a two-hundred day moving average of $9.12. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 74.76, a PEG ratio of 1.37 and a beta of 1.25. LegalZoom.com, Inc. has a one year low of $5.89 and a one year high of $12.40.

LegalZoom.com (NASDAQ:LZ) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). LegalZoom.com had a net margin of 2.04% and a return on equity of 6.35%. The firm had revenue of $190.27 million during the quarter, compared to analysts’ expectations of $184.85 million. During the same quarter last year, the company posted $0.19 EPS. The firm’s revenue was up 17.7% compared to the same quarter last year. Analysts anticipate that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

LegalZoom.com announced that its board has initiated a share repurchase program on Thursday, February 19th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 8.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on LZ shares. UBS Group dropped their target price on LegalZoom.com from $12.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. Barclays reissued an “underweight” rating and issued a $6.00 price objective (down from $9.00) on shares of LegalZoom.com in a research note on Wednesday, March 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LegalZoom.com in a research note on Monday, December 29th. Zacks Research raised shares of LegalZoom.com from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Finally, JPMorgan Chase & Co. dropped their target price on shares of LegalZoom.com from $14.00 to $11.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $9.42.

LegalZoom.com Company Profile

LegalZoom.com, Inc (NASDAQ: LZ) operates as a leading online legal technology company that provides a broad range of legal and business services to individuals, families and small businesses. Through its digital platform, the company offers customized legal documents and filing services, including business formation (LLCs, corporations and nonprofits), estate planning (wills and trusts), intellectual property protection (trademarks and copyrights), and ongoing compliance support. LegalZoom also connects customers with independent attorneys for consultations on matters such as family law, immigration and real estate.

Founded in 2001 by entrepreneurs Brian Lee, Brian P.