LegalZoom.com, Inc. (NASDAQ:LZ) Shares Purchased by M&T Bank Corp

M&T Bank Corp raised its position in LegalZoom.com, Inc. (NASDAQ:LZ) by 58.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 186,426 shares of the company’s stock after purchasing an additional 68,633 shares during the quarter. M&T Bank Corp’s holdings in LegalZoom.com were worth $2,107,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in LegalZoom.com in the third quarter worth about $167,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of LegalZoom.com during the 3rd quarter worth about $56,000. Bank of New York Mellon Corp lifted its stake in shares of LegalZoom.com by 1.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 415,282 shares of the company’s stock worth $4,543,000 after acquiring an additional 7,577 shares during the period. Strs Ohio boosted its holdings in shares of LegalZoom.com by 274.4% in the third quarter. Strs Ohio now owns 62,900 shares of the company’s stock valued at $688,000 after acquiring an additional 46,100 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of LegalZoom.com by 13.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,944 shares of the company’s stock valued at $503,000 after acquiring an additional 5,341 shares during the period. Institutional investors own 81.99% of the company’s stock.

LegalZoom.com Stock Up 2.4 %

NASDAQ:LZ opened at $9.50 on Friday. The stock has a fifty day simple moving average of $12.72 and a 200 day simple moving average of $11.51. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 118.01, a price-to-earnings-growth ratio of 4.18 and a beta of 1.24. LegalZoom.com, Inc. has a 1-year low of $9.02 and a 1-year high of $15.68.

LegalZoom.com (NASDAQ:LZ) last announced its earnings results on Thursday, February 22nd. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. The company had revenue of $158.66 million during the quarter, compared to analysts’ expectations of $156.25 million. LegalZoom.com had a net margin of 2.11% and a return on equity of 15.79%. Equities analysts predict that LegalZoom.com, Inc. will post 0.3 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Nicole Miller sold 24,557 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $9.75, for a total transaction of $239,430.75. Following the transaction, the executive vice president now directly owns 208,641 shares of the company’s stock, valued at $2,034,249.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Nicole Miller sold 24,557 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $9.75, for a total transaction of $239,430.75. Following the transaction, the executive vice president now directly owns 208,641 shares of the company’s stock, valued at $2,034,249.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Richard Preece sold 9,462 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $13.17, for a total transaction of $124,614.54. Following the completion of the transaction, the chief operating officer now owns 498,519 shares in the company, valued at approximately $6,565,495.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,555 shares of company stock worth $664,688. Corporate insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

LegalZoom.com Company Profile

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.