LegalZoom.com, Inc. (NASDAQ:LZ) Position Increased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 3,195.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 943,856 shares of the company’s stock after buying an additional 915,214 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in LegalZoom.com were worth $10,666,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of LegalZoom.com by 21.0% in the 3rd quarter. Vanguard Group Inc. now owns 12,999,938 shares of the company’s stock valued at $142,219,000 after purchasing an additional 2,257,224 shares during the period. BlackRock Inc. increased its holdings in shares of LegalZoom.com by 11.0% in the 2nd quarter. BlackRock Inc. now owns 9,353,457 shares of the company’s stock valued at $112,990,000 after purchasing an additional 929,585 shares during the period. Hawk Ridge Capital Management LP increased its holdings in shares of LegalZoom.com by 47.5% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 5,598,836 shares of the company’s stock valued at $61,251,000 after purchasing an additional 1,802,959 shares during the period. Blair William & Co. IL increased its holdings in shares of LegalZoom.com by 166.0% in the 3rd quarter. Blair William & Co. IL now owns 3,476,226 shares of the company’s stock valued at $38,030,000 after purchasing an additional 2,169,132 shares during the period. Finally, Boston Partners increased its holdings in shares of LegalZoom.com by 83.0% in the 3rd quarter. Boston Partners now owns 3,315,845 shares of the company’s stock valued at $35,877,000 after purchasing an additional 1,504,152 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. JMP Securities reiterated a “market outperform” rating and issued a $14.00 target price on shares of LegalZoom.com in a report on Friday, April 12th. Barclays dropped their target price on LegalZoom.com from $17.00 to $15.00 and set an “overweight” rating on the stock in a report on Thursday, February 8th. JPMorgan Chase & Co. upped their target price on LegalZoom.com from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Finally, Raymond James started coverage on LegalZoom.com in a report on Wednesday, March 27th. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, LegalZoom.com currently has a consensus rating of “Hold” and a consensus price target of $14.36.

LegalZoom.com Stock Performance

NASDAQ:LZ opened at $12.21 on Wednesday. The stock’s 50 day moving average price is $12.32 and its 200 day moving average price is $11.35. LegalZoom.com, Inc. has a 52 week low of $6.89 and a 52 week high of $15.68. The company has a market capitalization of $2.29 billion, a P/E ratio of 152.64, a P/E/G ratio of 4.44 and a beta of 1.23.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. LegalZoom.com had a return on equity of 15.79% and a net margin of 2.11%. The firm had revenue of $158.66 million for the quarter, compared to the consensus estimate of $156.25 million. As a group, sell-side analysts forecast that LegalZoom.com, Inc. will post 0.3 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Richard Preece sold 9,462 shares of LegalZoom.com stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $13.17, for a total value of $124,614.54. Following the transaction, the chief operating officer now owns 498,519 shares of the company’s stock, valued at $6,565,495.23. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, COO Richard Preece sold 9,462 shares of LegalZoom.com stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $13.17, for a total value of $124,614.54. Following the transaction, the chief operating officer now owns 498,519 shares of the company’s stock, valued at $6,565,495.23. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John Francis Murphy sold 10,000 shares of LegalZoom.com stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $12.47, for a total transaction of $124,700.00. Following the completion of the transaction, the director now directly owns 40,507 shares in the company, valued at approximately $505,122.29. The disclosure for this sale can be found here. Insiders have sold a total of 60,555 shares of company stock valued at $664,688 over the last 90 days. 44.60% of the stock is currently owned by company insiders.

About LegalZoom.com

LegalZoom.com, Inc, together with its subsidiaries, operates an online platform that supports the legal, compliance, and business management needs of small businesses and consumers in the United States. The company's platform offers business formation products, such as limited liability company, incorporation of C and S corporations, nonprofit formations, doing-business-as, corporate changes and filings, business licenses, legal forms, and beneficial ownership information reports; intellectual property products consisting of trademark and patent applications, and copyright registrations; and tax services, including business and personal tax preparations.