Alliancebernstein L.P. Has $3.70 Million Stock Position in LegalZoom.com, Inc. (NASDAQ:LZ)

Alliancebernstein L.P. lifted its holdings in LegalZoom.com, Inc. (NASDAQ:LZ) by 28.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 492,890 shares of the company’s stock after acquiring an additional 107,910 shares during the period. Alliancebernstein L.P. owned approximately 0.29% of LegalZoom.com worth $3,702,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership increased its stake in LegalZoom.com by 2,178.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 518,728 shares of the company’s stock worth $3,896,000 after acquiring an additional 495,959 shares during the period. Cornercap Investment Counsel Inc. acquired a new position in LegalZoom.com in the fourth quarter valued at about $541,000. Norges Bank bought a new stake in LegalZoom.com during the fourth quarter worth about $5,769,000. JPMorgan Chase & Co. grew its stake in LegalZoom.com by 103.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,153,409 shares of the company’s stock worth $8,662,000 after buying an additional 585,734 shares in the last quarter. Finally, Lexington Partners L.P. bought a new position in LegalZoom.com in the 4th quarter valued at about $103,000. 81.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LZ shares. William Blair reaffirmed a “market perform” rating on shares of LegalZoom.com in a report on Thursday, February 27th. Barclays raised their price objective on LegalZoom.com from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a research note on Friday. JPMorgan Chase & Co. lifted their price target on shares of LegalZoom.com from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Finally, Morgan Stanley raised their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $9.19.

LegalZoom.com Stock Down 0.6 %

NASDAQ LZ opened at $7.09 on Tuesday. The company’s 50 day moving average is $8.94 and its 200-day moving average is $8.16. The firm has a market cap of $1.25 billion, a P/E ratio of 54.54, a price-to-earnings-growth ratio of 1.73 and a beta of 1.13. LegalZoom.com, Inc. has a 12-month low of $5.33 and a 12-month high of $12.76.

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.