SG Americas Securities LLC purchased a new stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ – Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 62,237 shares of the company’s stock, valued at approximately $395,000.
Several other institutional investors have also recently added to or reduced their stakes in LZ. Vanguard Group Inc. lifted its holdings in LegalZoom.com by 21.4% during the 4th quarter. Vanguard Group Inc. now owns 15,777,144 shares of the company’s stock valued at $178,282,000 after purchasing an additional 2,777,206 shares during the last quarter. Westwood Holdings Group Inc. increased its position in LegalZoom.com by 62.0% in the 1st quarter. Westwood Holdings Group Inc. now owns 4,818,703 shares of the company’s stock valued at $64,282,000 after acquiring an additional 1,843,427 shares in the last quarter. Wellington Management Group LLP increased its position in LegalZoom.com by 64.7% in the 4th quarter. Wellington Management Group LLP now owns 1,974,236 shares of the company’s stock valued at $22,309,000 after acquiring an additional 775,775 shares in the last quarter. Renaissance Technologies LLC increased its position in LegalZoom.com by 26.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,466,933 shares of the company’s stock valued at $20,698,000 after acquiring an additional 521,200 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in LegalZoom.com by 42.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,347,117 shares of the company’s stock valued at $17,971,000 after acquiring an additional 403,261 shares in the last quarter. 81.99% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the stock. Barclays cut shares of LegalZoom.com from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 10th. Citigroup cut shares of LegalZoom.com from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $15.00 to $8.00 in a research report on Wednesday, July 10th. Bank of America cut shares of LegalZoom.com from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $13.00 to $6.00 in a research report on Wednesday, July 10th. William Blair assumed coverage on shares of LegalZoom.com in a research report on Monday, September 16th. They set a “market perform” rating for the company. Finally, Jefferies Financial Group upgraded shares of LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $9.79.
LegalZoom.com Stock Up 0.4 %
Shares of LZ stock opened at $6.89 on Friday. The company’s fifty day simple moving average is $6.46 and its 200-day simple moving average is $8.23. The firm has a market cap of $1.30 billion, a PE ratio of 62.64, a P/E/G ratio of 2.03 and a beta of 1.10. LegalZoom.com, Inc. has a 12 month low of $5.33 and a 12 month high of $13.74.
LegalZoom.com (NASDAQ:LZ – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. LegalZoom.com had a net margin of 3.10% and a return on equity of 22.36%. The firm had revenue of $177.36 million for the quarter, compared to analyst estimates of $172.92 million. During the same period in the prior year, the firm posted $0.02 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities analysts predict that LegalZoom.com, Inc. will post 0.23 earnings per share for the current fiscal year.
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.
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