Walleye Capital LLC Has $2.01 Million Stake in LegalZoom.com, Inc. $LZ

Walleye Capital LLC increased its stake in LegalZoom.com, Inc. (NASDAQ:LZ) by 172.5% in the 1st quarter, Holdings Channel reports. The firm owned 354,031 shares of the company’s stock after purchasing an additional 224,100 shares during the period. Walleye Capital LLC’s holdings in LegalZoom.com were worth $2,007,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its holdings in LegalZoom.com by 165.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,730,487 shares of the company’s stock valued at $37,044,000 after purchasing an additional 2,324,481 shares during the last quarter. Boston Partners acquired a new stake in shares of LegalZoom.com in the third quarter worth $20,686,000. Qube Research & Technologies Ltd lifted its stake in shares of LegalZoom.com by 180.5% in the second quarter. Qube Research & Technologies Ltd now owns 1,797,252 shares of the company’s stock worth $16,014,000 after buying an additional 1,156,462 shares during the last quarter. Norges Bank bought a new stake in shares of LegalZoom.com during the 4th quarter worth $10,526,000. Finally, Lazard Asset Management LLC grew its stake in LegalZoom.com by 507.3% in the 2nd quarter. Lazard Asset Management LLC now owns 1,104,734 shares of the company’s stock valued at $9,842,000 after buying an additional 922,829 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

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

LegalZoom.com Trading Down 0.4%

Shares of LZ stock opened at $7.05 on Friday. The firm has a market capitalization of $1.21 billion, a P/E ratio of 117.52, a price-to-earnings-growth ratio of 1.25 and a beta of 1.31. LegalZoom.com, Inc. has a 1 year low of $5.22 and a 1 year high of $12.40. The firm’s fifty day simple moving average is $6.47 and its 200 day simple moving average is $6.88.

LegalZoom.com (NASDAQ:LZ) last issued 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 company had revenue of $206.78 million during the quarter, compared to the consensus estimate of $202.14 million. LegalZoom.com had a net margin of 1.46% and a return on equity of 11.53%. LegalZoom.com’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the company earned $0.13 earnings per share. Equities research analysts anticipate that LegalZoom.com, Inc. will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jeffrey M. Stibel purchased 125,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $6.15 per share, with a total value of $768,750.00. Following the acquisition, the chief executive officer directly owned 2,955,609 shares in the company, valued at approximately $18,176,995.35. The trade was a 4.42% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nicole Miller sold 19,199 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $6.58, for a total value of $126,329.42. Following the completion of the transaction, the insider directly owned 1,119,222 shares of the company’s stock, valued at approximately $7,364,480.76. This trade represents a 1.69% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 owned by company insiders.

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.