Tudor Investment Corp ET AL Decreases Holdings in LegalZoom.com, Inc. $LZ

Tudor Investment Corp ET AL trimmed its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 54.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 495,280 shares of the company’s stock after selling 585,671 shares during the period. Tudor Investment Corp ET AL owned 0.28% of LegalZoom.com worth $5,141,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. purchased a new position in LegalZoom.com during the third quarter valued at $131,000. Danske Bank A S purchased a new position in LegalZoom.com during the third quarter valued at $694,000. Sender Co & Partners Inc. purchased a new position in LegalZoom.com during the third quarter valued at $134,000. PharVision Advisers LLC purchased a new position in LegalZoom.com during the third quarter valued at $124,000. Finally, XTX Topco Ltd lifted its holdings in LegalZoom.com by 726.0% during the third quarter. XTX Topco Ltd now owns 91,774 shares of the company’s stock valued at $953,000 after purchasing an additional 80,664 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

LegalZoom.com Stock Down 1.0%

Shares of NASDAQ LZ opened at $5.93 on Thursday. The firm has a 50-day simple moving average of $6.68 and a 200-day simple moving average of $8.76. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 74.13, a price-to-earnings-growth ratio of 1.27 and a beta of 1.30. LegalZoom.com, Inc. has a 52 week low of $5.44 and a 52 week high of $12.40.

LegalZoom.com (NASDAQ:LZ) last issued its earnings results on Thursday, February 19th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $190.27 million during the quarter, compared to analyst estimates of $184.85 million. LegalZoom.com had a net margin of 2.04% and a return on equity of 6.35%. LegalZoom.com’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the company earned $0.19 earnings per share. As a group, equities research analysts expect that LegalZoom.com, Inc. will post 0.25 EPS for the current year.

LegalZoom.com declared that its Board of Directors has approved a share repurchase program on Thursday, February 19th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 8.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at LegalZoom.com

In other news, insider Nicole Miller sold 23,325 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $6.63, for a total value of $154,644.75. Following the completion of the sale, the insider directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Noel Bertram Watson sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $6.96, for a total transaction of $104,400.00. Following the sale, the chief financial officer owned 1,480,860 shares of the company’s stock, valued at approximately $10,306,785.60. The trade was a 1.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on LZ. Weiss Ratings downgraded shares of LegalZoom.com from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Zacks Research raised shares of LegalZoom.com from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Barclays reaffirmed an “underweight” rating and set a $6.00 price objective (down from $9.00) on shares of LegalZoom.com in a report on Wednesday, March 4th. UBS Group decreased their price objective on shares of LegalZoom.com from $12.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. Finally, JPMorgan Chase & Co. reduced their target price on shares of LegalZoom.com from $14.00 to $11.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, LegalZoom.com currently has a consensus rating of “Hold” and a consensus target price of $9.42.

LegalZoom.com 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.