Federated Hermes Inc. Trims Stock Position in LegalZoom.com, Inc. (NASDAQ:LZ)

Federated Hermes Inc. cut its position in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 5.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 222,879 shares of the company’s stock after selling 13,745 shares during the quarter. Federated Hermes Inc.’s holdings in LegalZoom.com were worth $2,519,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in LegalZoom.com by 7.9% during the third quarter. Brighton Jones LLC now owns 24,382 shares of the company’s stock worth $267,000 after purchasing an additional 1,788 shares during the period. Swiss National Bank lifted its holdings in shares of LegalZoom.com by 1.1% in the 3rd quarter. Swiss National Bank now owns 168,100 shares of the company’s stock worth $1,839,000 after acquiring an additional 1,900 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of LegalZoom.com by 116.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 3,722 shares of the company’s stock worth $41,000 after acquiring an additional 2,002 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of LegalZoom.com in the 3rd quarter worth approximately $31,000. Finally, Summit Trail Advisors LLC lifted its holdings in shares of LegalZoom.com by 3.4% in the 3rd quarter. Summit Trail Advisors LLC now owns 137,583 shares of the company’s stock worth $1,505,000 after acquiring an additional 4,492 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on LZ. Barclays cut their target price on shares of LegalZoom.com from $17.00 to $15.00 and set an “overweight” rating on the stock in a research note on Thursday, February 8th. JPMorgan Chase & Co. upped their target price on shares of LegalZoom.com from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. JMP Securities reaffirmed a “market outperform” rating and set a $14.00 target price on shares of LegalZoom.com in a research note on Friday, April 12th. Finally, Raymond James began coverage on shares of LegalZoom.com in a research note on Wednesday, March 27th. They set 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.36.

LegalZoom.com Trading Up 1.7 %

Shares of NASDAQ:LZ opened at $12.48 on Friday. LegalZoom.com, Inc. has a 52 week low of $6.89 and a 52 week high of $15.68. The company’s 50 day moving average is $12.56 and its two-hundred day moving average is $11.44. The company has a market cap of $2.36 billion, a PE ratio of 156.00, a P/E/G ratio of 4.30 and a beta of 1.23.

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

Insider Buying and Selling at LegalZoom.com

In related news, COO Richard Preece sold 9,462 shares of the stock in a transaction 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 directly owns 498,519 shares of the company’s stock, valued at approximately $6,565,495.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, COO Richard Preece sold 9,462 shares of the stock in a transaction 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 directly owns 498,519 shares of the company’s stock, valued at approximately $6,565,495.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Francis Murphy sold 10,000 shares of the stock in a transaction 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 $505,122.29. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,555 shares of company stock valued at $664,688. Insiders own 44.60% of the company’s stock.

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.