Vanguard Group Inc. Sells 1,726,342 Shares of LegalZoom.com, Inc. $LZ

Vanguard Group Inc. reduced its position in LegalZoom.com, Inc. (NASDAQ:LZ) by 8.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,345,662 shares of the company’s stock after selling 1,726,342 shares during the quarter. Vanguard Group Inc. owned approximately 0.10% of LegalZoom.com worth $182,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Parkside Financial Bank & Trust bought a new position in shares of LegalZoom.com in the third quarter worth approximately $40,000. Clearstead Advisors LLC boosted its position in shares of LegalZoom.com by 58.5% in the third quarter. Clearstead Advisors LLC now owns 3,906 shares of the company’s stock worth $41,000 after purchasing an additional 1,441 shares during the period. Osaic Holdings Inc. boosted its position in shares of LegalZoom.com by 477.3% in the second quarter. Osaic Holdings Inc. now owns 4,555 shares of the company’s stock worth $41,000 after purchasing an additional 3,766 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of LegalZoom.com by 976.4% in the second quarter. EverSource Wealth Advisors LLC now owns 4,564 shares of the company’s stock worth $41,000 after purchasing an additional 4,140 shares during the period. Finally, Parallel Advisors LLC boosted its position in shares of LegalZoom.com by 8,589.8% in the third quarter. Parallel Advisors LLC now owns 5,127 shares of the company’s stock worth $53,000 after purchasing an additional 5,068 shares during the period. 81.99% of the stock is currently owned by institutional investors.

LegalZoom.com Stock Performance

Shares of LZ opened at $6.13 on Monday. LegalZoom.com, Inc. has a twelve month low of $5.28 and a twelve month high of $12.40. The company has a market cap of $1.05 billion, a P/E ratio of 102.18, a P/E/G ratio of 1.27 and a beta of 1.33. The company’s fifty day simple moving average is $6.25 and its 200-day simple moving average is $8.22.

LegalZoom.com (NASDAQ:LZ) last announced its earnings results on Wednesday, May 6th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). LegalZoom.com had a net margin of 1.46% and a return on equity of 11.53%. The firm had revenue of $206.78 million during the quarter, compared to analysts’ expectations of $202.14 million. During the same period in the prior year, the company posted $0.13 EPS. The company’s revenue was up 12.9% compared to the same quarter last year. Analysts predict that LegalZoom.com, Inc. will post 0.27 earnings per share for the current fiscal year.

LegalZoom.com declared that its board has approved a share buyback program on Thursday, February 19th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have recently commented on LZ. UBS Group lowered their target price on shares of LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday. Weiss Ratings downgraded shares of LegalZoom.com from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 6th. Barclays reaffirmed an “underweight” rating and set a $6.00 price target (down from $9.00) on shares of LegalZoom.com in a research note on Wednesday, March 4th. JPMorgan Chase & Co. decreased their price target on shares of LegalZoom.com from $14.00 to $11.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Finally, Zacks Research raised shares of LegalZoom.com from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, LegalZoom.com currently has an average rating of “Hold” and an average target price of $9.25.

Insider Buying and Selling at LegalZoom.com

In other news, insider Nicole Miller sold 23,325 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $6.63, for a total value of $154,644.75. Following the sale, the insider owned 813,033 shares of the company’s stock, valued at approximately $5,390,408.79. This represents a 2.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Noel Bertram Watson sold 15,000 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $6.96, for a total transaction of $104,400.00. Following the completion of the sale, the chief financial officer directly owned 1,480,860 shares in the company, valued at approximately $10,306,785.60. This represents a 1.00% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 5.90% of the company’s stock.

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.