LegalZoom.com, Inc. (NASDAQ:LZ) Given Consensus Rating of “Hold” by Brokerages

LegalZoom.com, Inc. (NASDAQ:LZ) has been given a consensus recommendation of “Hold” by the nine brokerages that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $8.25.

A number of analysts recently weighed in on LZ shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of LegalZoom.com in a research note on Thursday, July 2nd. UBS Group reduced their target price on shares of LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Wall Street Zen downgraded shares of LegalZoom.com from a “buy” rating to a “hold” rating in a research note on Saturday. Citigroup lowered their price target on LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Finally, JPMorgan Chase & Co. reduced their price objective 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.

LegalZoom.com Stock Up 4.1%

LZ opened at $7.33 on Friday. LegalZoom.com has a 52 week low of $5.22 and a 52 week high of $12.40. The business’s 50 day moving average is $6.18 and its two-hundred day moving average is $7.10. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 122.19, a price-to-earnings-growth ratio of 1.24 and a beta of 1.31.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings data 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). The firm had revenue of $206.78 million during the quarter, compared to analyst estimates 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 was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 earnings per share. Equities analysts expect that LegalZoom.com will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling at LegalZoom.com

In other news, CFO Noel Bertram Watson sold 15,000 shares of the business’s 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 transaction, the chief financial officer owned 2,041,847 shares of the company’s stock, valued at approximately $13,169,913.15. The trade was a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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, CEO Jeffrey M. Stibel purchased 125,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $6.15 per share, with a total value of $768,750.00. Following the purchase, the chief executive officer directly owned 2,955,609 shares of the company’s stock, valued at approximately $18,176,995.35. The trade was a 4.42% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 5.90% of the company’s stock.

Institutional Trading of LegalZoom.com

Hedge funds have recently made changes to their positions in the company. EP Wealth Advisors LLC increased its stake in shares of LegalZoom.com by 2.8% during the second 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 boosted its holdings in LegalZoom.com by 37.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 5,179 shares of the company’s stock valued at $51,000 after purchasing an additional 1,403 shares in the last quarter. Prelude Capital Management LLC boosted its holdings in LegalZoom.com by 11.6% in the 3rd quarter. Prelude Capital Management LLC now owns 14,185 shares of the company’s stock valued at $147,000 after purchasing an additional 1,470 shares in the last quarter. Chase Investment Counsel Corp increased its position in LegalZoom.com by 12.3% during the 4th 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 during the period. Finally, The Manufacturers Life Insurance Company increased its position in LegalZoom.com by 2.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 59,862 shares of the company’s stock worth $594,000 after purchasing an additional 1,705 shares during the period. 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.