Allspring Global Investments Holdings LLC Has $193,000 Position in LegalZoom.com, Inc. (NASDAQ:LZ)

Allspring Global Investments Holdings LLC decreased its holdings in LegalZoom.com, Inc. (NASDAQ:LZ) by 28.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,356 shares of the company’s stock after selling 12,008 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in LegalZoom.com were worth $193,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Principal Financial Group Inc. grew its holdings in LegalZoom.com by 31.5% during the 1st quarter. Principal Financial Group Inc. now owns 17,990 shares of the company’s stock worth $240,000 after acquiring an additional 4,305 shares during the last quarter. Swiss National Bank increased its position in LegalZoom.com by 15.7% in the 1st quarter. Swiss National Bank now owns 241,200 shares of the company’s stock valued at $3,218,000 after buying an additional 32,700 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its holdings in LegalZoom.com by 148.3% in the first quarter. Susquehanna Fundamental Investments LLC now owns 70,797 shares of the company’s stock worth $944,000 after acquiring an additional 42,288 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of LegalZoom.com by 39.6% in the 1st quarter. Sei Investments Co. now owns 83,698 shares of the company’s stock worth $1,117,000 after purchasing an additional 23,730 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of LegalZoom.com by 5.3% in the first quarter. Russell Investments Group Ltd. now owns 167,917 shares of the company’s stock valued at $2,240,000 after buying an additional 8,481 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

LegalZoom.com Trading Up 1.0 %

Shares of NASDAQ LZ opened at $7.25 on Monday. The firm has a fifty day simple moving average of $6.68 and a two-hundred day simple moving average of $7.71. The firm has a market capitalization of $1.27 billion, a PE ratio of 65.91, a price-to-earnings-growth ratio of 2.23 and a beta of 1.06. LegalZoom.com, Inc. has a 12 month low of $5.33 and a 12 month high of $13.74.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $177.36 million for the quarter, compared to the consensus estimate of $172.92 million. LegalZoom.com had a return on equity of 22.36% and a net margin of 3.10%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.02 EPS. On average, sell-side analysts predict that LegalZoom.com, Inc. will post 0.23 earnings per share for the current year.

Wall Street Analyst Weigh In

LZ has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on LegalZoom.com from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Barclays downgraded shares of LegalZoom.com from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 10th. Bank of America downgraded 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 report on Wednesday, July 10th. William Blair began coverage on LegalZoom.com in a research note on Monday, September 16th. They issued a “market perform” rating on the stock. Finally, Citigroup downgraded LegalZoom.com from a “buy” rating to a “neutral” rating and lowered their price target for the company from $15.00 to $8.00 in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.79.

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.