The Manufacturers Life Insurance Company Decreases Stake in LegalZoom.com, Inc. (NASDAQ:LZ)

The Manufacturers Life Insurance Company cut its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 11.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 61,801 shares of the company’s stock after selling 7,859 shares during the period. The Manufacturers Life Insurance Company’s holdings in LegalZoom.com were worth $464,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in LegalZoom.com by 14.5% in 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 period. Norges Bank bought a new position in shares of LegalZoom.com in the 4th quarter worth about $5,769,000. JPMorgan Chase & Co. increased its stake in shares of LegalZoom.com by 103.2% in the 4th 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 in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of LegalZoom.com by 2,178.2% in 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 in the last quarter. Finally, Kazazian Asset Management LLC bought a new position in shares of LegalZoom.com in the 4th quarter worth about $3,375,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Morgan Stanley increased their price target on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Friday, May 9th. Barclays increased their price target on shares of LegalZoom.com from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. boosted their target price on LegalZoom.com from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. JMP Securities reissued a “market perform” rating on shares of LegalZoom.com in a report on Thursday. Finally, William Blair reissued a “market perform” rating on shares of LegalZoom.com in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.19.

LegalZoom.com Trading Up 1.0%

LegalZoom.com stock opened at $9.29 on Friday. The business’s fifty day simple moving average is $8.16 and its two-hundred day simple moving average is $8.31. LegalZoom.com, Inc. has a 12 month low of $5.33 and a 12 month high of $10.60. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 71.47, a price-to-earnings-growth ratio of 1.73 and a beta of 1.14.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.13. The firm had revenue of $183.11 million for the quarter, compared to the consensus estimate of $176.17 million. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share. On average, equities research analysts predict that LegalZoom.com, Inc. will post 0.25 EPS for the current year.

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.