LegalZoom.com (NASDAQ:LZ) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of LegalZoom.com (NASDAQ:LZ) from a buy rating to a hold rating in a report published on Monday.

Several other research firms have also recently issued reports on LZ. JPMorgan Chase & Co. reduced their price objective on shares of LegalZoom.com from $11.00 to $8.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 24th. Citigroup dropped their target price on shares of LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Friday, May 22nd. UBS Group cut their target price on shares of LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of LegalZoom.com in a report on Thursday, July 2nd. Three 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 a consensus rating of “Hold” and an average target price of $8.25.

LegalZoom.com Stock Down 0.3%

NASDAQ:LZ opened at $7.70 on Monday. The business’s 50-day simple moving average is $6.40 and its two-hundred day simple moving average is $6.94. LegalZoom.com has a 52 week low of $5.22 and a 52 week high of $12.40. The stock has a market cap of $1.32 billion, a PE ratio of 128.35, a P/E/G ratio of 1.36 and a beta of 1.31.

LegalZoom.com (NASDAQ:LZ) last issued its earnings results on Wednesday, May 6th. The company reported $0.12 earnings per share (EPS) 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 business had revenue of $206.78 million for the quarter, compared to the consensus estimate of $202.14 million. During the same period last year, the business posted $0.13 EPS. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. Sell-side analysts anticipate that LegalZoom.com will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling at LegalZoom.com

In other LegalZoom.com news, CFO Noel Bertram Watson sold 15,000 shares of LegalZoom.com stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $6.45, for a total value of $96,750.00. Following the sale, the chief financial officer owned 2,041,847 shares of the company’s stock, valued at $13,169,913.15. The trade was a 0.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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. Also, insider Nicole Miller sold 19,199 shares of LegalZoom.com stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $6.58, for a total value of $126,329.42. Following the completion of the sale, the insider directly owned 1,119,222 shares in the company, valued at approximately $7,364,480.76. The trade was a 1.69% decrease in their position. 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. 7.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On LegalZoom.com

Several large investors have recently bought and sold shares of the business. Osaic Holdings Inc. grew its stake in shares of LegalZoom.com by 477.3% in the 2nd quarter. Osaic Holdings Inc. now owns 4,555 shares of the company’s stock worth $41,000 after buying an additional 3,766 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of LegalZoom.com by 976.4% during the 2nd 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. PNC Financial Services Group Inc. lifted its holdings in shares of LegalZoom.com by 11,415.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,600 shares of the company’s stock valued at $43,000 after acquiring an additional 7,534 shares during the last quarter. Parallel Advisors LLC grew its position in 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 acquiring an additional 5,068 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new position in LegalZoom.com in the first quarter worth about $58,000. 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.