Russell Investments Group Ltd. Grows Holdings in LegalZoom.com, Inc. (NASDAQ:LZ)

Russell Investments Group Ltd. lifted its position in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 9.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 109,109 shares of the company’s stock after buying an additional 9,598 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.06% of LegalZoom.com worth $819,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in LegalZoom.com by 14.5% during the fourth quarter. Vanguard Group Inc. now owns 20,271,769 shares of the company’s stock worth $152,241,000 after purchasing an additional 2,574,700 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of LegalZoom.com by 0.9% during the 4th quarter. Franklin Resources Inc. now owns 3,094,594 shares of the company’s stock worth $23,240,000 after buying an additional 26,607 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of LegalZoom.com by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,232,747 shares of the company’s stock worth $9,258,000 after buying an additional 34,914 shares during the period. JPMorgan Chase & Co. increased 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 acquiring an additional 585,734 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of LegalZoom.com in the 4th quarter worth about $5,769,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

LegalZoom.com Trading Up 2.4 %

LZ stock opened at $6.77 on Wednesday. The firm has a 50 day simple moving average of $8.66 and a 200-day simple moving average of $8.17. The company has a market capitalization of $1.19 billion, a P/E ratio of 52.08, a PEG ratio of 1.73 and a beta of 1.13. LegalZoom.com, Inc. has a twelve month low of $5.33 and a twelve month high of $12.55.

Analyst Upgrades and Downgrades

LZ has been the subject of a number of research analyst reports. Morgan Stanley dropped their target price on shares of LegalZoom.com from $10.00 to $7.00 and set an “underweight” rating for the company in a research report on Wednesday, April 16th. William Blair reaffirmed a “market perform” rating on shares of LegalZoom.com in a research report on Thursday, February 27th. Barclays increased their target price 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 reissued a “market perform” rating on shares of LegalZoom.com in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of LegalZoom.com from $9.00 to $11.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $9.06.

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.