LegalZoom.com (NASDAQ:LZ) CEO Buys $768,750.00 in Stock

LegalZoom.com, Inc. (NASDAQ:LZ) CEO Jeffrey Stibel bought 125,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $6.15 per share, for a total transaction of $768,750.00. Following the completion of the transaction, the chief executive officer owned 2,955,609 shares in the company, valued at $18,176,995.35. This trade represents a 4.42% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

LegalZoom.com Stock Performance

Shares of LZ opened at $5.91 on Thursday. The stock has a 50-day moving average of $6.19 and a two-hundred day moving average of $8.10. LegalZoom.com, Inc. has a one year low of $5.28 and a one year high of $12.40. The stock has a market cap of $1.01 billion, a P/E ratio of 98.52, a P/E/G ratio of 1.28 and a beta of 1.33.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $202.14 million. During the same period in the prior year, the company posted $0.13 earnings per share. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. Analysts predict that LegalZoom.com, Inc. will post 0.27 EPS for the current fiscal year.

LegalZoom.com announced that its Board of Directors has approved a share buyback plan on Thursday, February 19th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 8.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

LZ has been the subject of several research reports. Zacks Research upgraded shares of LegalZoom.com from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd. UBS Group cut their price objective on shares of LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Barclays reissued an “underweight” rating and set a $6.00 target price (down from $9.00) on shares of LegalZoom.com in a report on Wednesday, March 4th. JPMorgan Chase & Co. decreased 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. Finally, Weiss Ratings lowered shares of LegalZoom.com from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 6th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, LegalZoom.com presently has a consensus rating of “Hold” and an average target price of $9.25.

Institutional Investors Weigh In On LegalZoom.com

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Parkside Financial Bank & Trust acquired a new position in shares of LegalZoom.com in the 3rd quarter valued at $40,000. Clearstead Advisors LLC grew its position in LegalZoom.com by 58.5% during the third quarter. Clearstead Advisors LLC now owns 3,906 shares of the company’s stock valued at $41,000 after buying an additional 1,441 shares during the period. Osaic Holdings Inc. grew its position in LegalZoom.com by 477.3% during the second quarter. Osaic Holdings Inc. now owns 4,555 shares of the company’s stock valued at $41,000 after buying an additional 3,766 shares during the period. EverSource Wealth Advisors LLC increased its holdings in LegalZoom.com by 976.4% in the second quarter. EverSource Wealth Advisors LLC now owns 4,564 shares of the company’s stock valued at $41,000 after buying an additional 4,140 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in LegalZoom.com by 11,415.2% in the first quarter. PNC Financial Services Group Inc. now owns 7,600 shares of the company’s stock valued at $43,000 after buying an additional 7,534 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

About LegalZoom.com

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.