LegalZoom.com, Inc. (NASDAQ:LZ) CFO Sells $279,250.00 in Stock

LegalZoom.com, Inc. (NASDAQ:LZ) CFO Noel Bertram Watson sold 25,000 shares of LegalZoom.com stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $11.17, for a total value of $279,250.00. Following the completion of the transaction, the chief financial officer now owns 660,695 shares of the company’s stock, valued at approximately $7,379,963.15. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

LegalZoom.com Stock Up 0.5 %

Shares of NASDAQ LZ opened at $11.24 on Monday. The business has a fifty day simple moving average of $10.47 and a two-hundred day simple moving average of $11.54. The firm has a market cap of $2.11 billion, a PE ratio of 224.84, a price-to-earnings-growth ratio of 1.67 and a beta of 1.04. LegalZoom.com, Inc. has a twelve month low of $6.89 and a twelve month high of $15.68.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LZ. Barclays lifted their target price on LegalZoom.com from $12.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, August 9th. Credit Suisse Group lifted their target price on LegalZoom.com from $14.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. Morgan Stanley raised their price target on LegalZoom.com from $9.00 to $9.50 and gave the stock an “underweight” rating in a research note on Tuesday, November 14th. Citigroup raised their price target on LegalZoom.com from $15.00 to $17.00 in a research note on Wednesday, August 9th. Finally, TheStreet lowered LegalZoom.com from a “c-” rating to a “d+” rating in a research note on Thursday, September 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, LegalZoom.com presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.93.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in LZ. American International Group Inc. grew its stake in LegalZoom.com by 8.3% during the 2nd quarter. American International Group Inc. now owns 50,143 shares of the company’s stock worth $606,000 after buying an additional 3,841 shares during the last quarter. Pathway Capital Management LP purchased a new position in LegalZoom.com during the 2nd quarter worth $8,113,000. Acadian Asset Management LLC purchased a new position in LegalZoom.com during the 2nd quarter worth $1,118,000. Empower Advisory Group LLC purchased a new position in LegalZoom.com during the 1st quarter worth $1,118,000. Finally, Numerai GP LLC grew its stake in LegalZoom.com by 72.2% during the 1st quarter. Numerai GP LLC now owns 241,418 shares of the company’s stock valued at $2,265,000 after purchasing an additional 101,253 shares during the last quarter. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

About LegalZoom.com

LegalZoom.com, Inc operates an online platform for legal and compliance solutions in the United States. The company's platform offers products and services, including business formations, creating estate planning documents, protecting intellectual property, completing certain forms and agreements, providing access to independent attorney advice, and connecting customers with experts for tax preparation and bookkeeping services.