Stock Traders Buy Large Volume of LegalZoom.com Call Options (NASDAQ:LZ)

LegalZoom.com, Inc. (NASDAQ:LZGet Free Report) was the target of some unusual options trading on Wednesday. Traders bought 11,501 call options on the stock. This is an increase of 769% compared to the average daily volume of 1,324 call options.

Analyst Ratings Changes

Several analysts have recently commented on LZ shares. JPMorgan Chase & Co. cut LegalZoom.com from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $14.00 to $9.00 in a report on Wednesday. Raymond James assumed coverage on LegalZoom.com in a research note on Wednesday, March 27th. They issued a “market perform” rating for the company. JMP Securities downgraded LegalZoom.com from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Citigroup downgraded LegalZoom.com from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $15.00 to $8.00 in a research note on Wednesday. Finally, Barclays downgraded LegalZoom.com from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.21.

Check Out Our Latest Stock Analysis on LegalZoom.com

Hedge Funds Weigh In On LegalZoom.com

Hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP grew its position in shares of LegalZoom.com by 26.8% in the third quarter. GSA Capital Partners LLP now owns 81,154 shares of the company’s stock valued at $888,000 after purchasing an additional 17,132 shares during the period. Wellington Management Group LLP grew its position in shares of LegalZoom.com by 21.0% in the third quarter. Wellington Management Group LLP now owns 1,198,461 shares of the company’s stock valued at $13,111,000 after purchasing an additional 208,030 shares during the period. Citigroup Inc. grew its position in shares of LegalZoom.com by 38.4% in the third quarter. Citigroup Inc. now owns 51,894 shares of the company’s stock valued at $568,000 after purchasing an additional 14,388 shares during the period. Vanguard Group Inc. grew its position in shares of LegalZoom.com by 21.0% in the third 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. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of LegalZoom.com in the third quarter valued at $1,753,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

LegalZoom.com Stock Performance

LegalZoom.com stock opened at $5.86 on Thursday. The stock has a fifty day moving average of $8.79 and a two-hundred day moving average of $10.72. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 53.28, a PEG ratio of 2.88 and a beta of 1.10. LegalZoom.com has a fifty-two week low of $5.33 and a fifty-two week high of $15.68.

LegalZoom.com (NASDAQ:LZGet Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $174.21 million during the quarter, compared to the consensus estimate of $174.87 million. LegalZoom.com had a return on equity of 19.47% and a net margin of 3.15%. On average, analysts forecast that LegalZoom.com will post 0.24 EPS for the current fiscal year.

LegalZoom.com Company Profile

(Get Free Report)

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.

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