Northern Trust Corp Sells 62,910 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

Northern Trust Corp decreased its position in LegalZoom.com, Inc. (NASDAQ:LZ) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,168,969 shares of the company’s stock after selling 62,910 shares during the quarter. Northern Trust Corp owned approximately 0.68% of LegalZoom.com worth $8,779,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Aigen Investment Management LP purchased a new position in shares of LegalZoom.com in the 4th quarter worth about $76,000. Olympiad Research LP purchased a new position in shares of LegalZoom.com in the 4th quarter worth about $78,000. Quantessence Capital LLC purchased a new position in shares of LegalZoom.com in the 4th quarter worth about $78,000. Sei Investments Co. purchased a new position in shares of LegalZoom.com in the 4th quarter worth about $83,000. Finally, Cibc World Markets Corp purchased a new position in shares of LegalZoom.com in the 4th quarter worth about $90,000. Institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on LZ. William Blair reissued a “market perform” rating on shares of LegalZoom.com in a report on Thursday, February 27th. Morgan Stanley boosted their price target on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Friday, May 9th. Barclays upped their price objective on shares of LegalZoom.com from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a report on Thursday. Finally, JPMorgan Chase & Co. upped their price objective 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. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, LegalZoom.com presently has an average rating of “Hold” and an average target price of $8.50.

LegalZoom.com Trading Up 1.0%

Shares of LegalZoom.com stock opened at $9.29 on Monday. LegalZoom.com, Inc. has a 12-month low of $5.33 and a 12-month high of $10.60. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 71.47, a PEG ratio of 1.73 and a beta of 1.14. The company’s 50-day moving average price is $8.16 and its 200-day moving average price is $8.32.

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, hitting analysts’ consensus estimates of $0.13. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The firm had revenue of $183.11 million for the quarter, compared to the consensus estimate of $176.17 million. During the same period in the prior year, the firm posted $0.09 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, sell-side analysts predict that LegalZoom.com, Inc. will post 0.25 earnings per share for the current 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.