LegalZoom.com (NASDAQ:LZ) Trading Up 6.4% – Time to Buy?

LegalZoom.com, Inc. (NASDAQ:LZ)’s share price shot up 6.4% during mid-day trading on Monday . The stock traded as high as $7.72 and last traded at $7.7110. 609,045 shares changed hands during trading, a decline of 81% from the average session volume of 3,128,971 shares. The stock had previously closed at $7.25.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on LZ shares. Wall Street Zen upgraded shares of LegalZoom.com from a “hold” rating to a “buy” rating in a research note on Sunday. UBS Group lowered their target price on LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. JPMorgan Chase & Co. cut their price target on LegalZoom.com from $11.00 to $8.00 and set an “overweight” rating for the company in a research note on Wednesday, June 24th. Citigroup lowered their price objective on shares of LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of LegalZoom.com in a research note on Thursday, July 2nd. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.25.

LegalZoom.com Trading Up 6.4%

The business has a 50 day moving average price of $6.23 and a 200-day moving average price of $7.04. The firm has a market capitalization of $1.32 billion, a PE ratio of 128.60, a P/E/G ratio of 1.28 and a beta of 1.31.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings results 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). The business had revenue of $206.78 million during the quarter, compared to analysts’ expectations of $202.14 million. LegalZoom.com had a net margin of 1.46% and a return on equity of 11.53%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.13 earnings per share. On average, equities research analysts forecast that LegalZoom.com, Inc. will post 0.32 earnings per share for the current year.

Insider Transactions at LegalZoom.com

In related news, CEO Jeffrey M. Stibel acquired 125,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average price of $6.15 per share, with a total value of $768,750.00. Following the completion of the acquisition, the chief executive officer owned 2,955,609 shares in the company, valued at approximately $18,176,995.35. This represents a 4.42% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicole Miller sold 19,199 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $6.58, for a total transaction of $126,329.42. Following the transaction, the insider owned 1,119,222 shares in the company, valued at $7,364,480.76. The trade was a 1.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On LegalZoom.com

Several institutional investors have recently modified their holdings of the company. EP Wealth Advisors LLC grew its holdings in shares of LegalZoom.com by 2.8% in the 2nd quarter. EP Wealth Advisors LLC now owns 41,352 shares of the company’s stock worth $368,000 after acquiring an additional 1,139 shares during the period. EverSource Wealth Advisors LLC raised its holdings in LegalZoom.com by 37.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,179 shares of the company’s stock worth $51,000 after purchasing an additional 1,403 shares during the last quarter. Prelude Capital Management LLC boosted its position in LegalZoom.com by 11.6% during the third quarter. Prelude Capital Management LLC now owns 14,185 shares of the company’s stock worth $147,000 after purchasing an additional 1,470 shares in the last quarter. Chase Investment Counsel Corp boosted its position in LegalZoom.com by 12.3% during the fourth quarter. Chase Investment Counsel Corp now owns 13,601 shares of the company’s stock worth $135,000 after purchasing an additional 1,489 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in LegalZoom.com by 2.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 59,862 shares of the company’s stock valued at $594,000 after purchasing an additional 1,705 shares during the last quarter. Hedge funds and other institutional investors own 81.99% 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.