LegalZoom.com (NASDAQ:LZ) Insider Sells 43,996 Shares

LegalZoom.com, Inc. (NASDAQ:LZ) insider Nicole Miller sold 43,996 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $5.51, for a total transaction of $242,417.96. Following the completion of the transaction, the insider owned 976,932 shares of the company’s stock, valued at $5,382,895.32. This trade represents a 4.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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.

Nicole Miller also recently made the following trade(s):

• On Tuesday, August 18th, Nicole Miller sold 33,479 shares of LegalZoom.com stock. The shares were sold at an average price of $5.51, for a total transaction of $184,469.29.

LegalZoom.com Stock Up 4.8%

Shares of LegalZoom.com stock traded up $0.26 during trading hours on Tuesday, hitting $5.70. 3,028,172 shares of the company’s stock traded hands, compared to its average volume of 3,127,499. The company has a market cap of $976.18 million, a PE ratio of 63.33, a PEG ratio of 1.06 and a beta of 1.28. LegalZoom.com, Inc. has a twelve month low of $5.22 and a twelve month high of $12.40. The stock has a 50 day simple moving average of $6.67 and a 200-day simple moving average of $6.57.

LegalZoom.com (NASDAQ:LZ) last announced its earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $205.29 million for the quarter, compared to analyst estimates of $205.83 million. LegalZoom.com had a return on equity of 15.83% and a net margin of 2.13%.LegalZoom.com’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.15 EPS. As a group, equities research analysts predict that LegalZoom.com, Inc. will post 0.32 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on LZ shares. Citigroup reduced their target price on LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Wall Street Zen downgraded shares of LegalZoom.com from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $7.00 target price (down from $8.00) on shares of LegalZoom.com in a report on Thursday, August 6th. UBS Group lowered their target price on LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of LegalZoom.com in a research report on Thursday, July 2nd. Five equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $7.30.

Hedge Funds Weigh In On LegalZoom.com

Several hedge funds and other institutional investors have recently made changes to their positions in LZ. Osaic Holdings Inc. increased its position in LegalZoom.com by 477.3% in the 2nd quarter. Osaic Holdings Inc. now owns 4,555 shares of the company’s stock valued at $41,000 after acquiring an additional 3,766 shares during the period. EverSource Wealth Advisors LLC grew its position in LegalZoom.com by 976.4% in 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. Parallel Advisors LLC grew its position in LegalZoom.com by 8,589.8% in the 3rd quarter. Parallel Advisors LLC now owns 5,127 shares of the company’s stock valued at $53,000 after buying an additional 5,068 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in shares of LegalZoom.com in the 4th quarter worth approximately $74,000. Finally, Parkside Financial Bank & Trust increased its stake in shares of LegalZoom.com by 91.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 7,433 shares of the company’s stock valued at $74,000 after acquiring an additional 3,550 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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.