Nuveen Asset Management LLC Boosts Holdings in LegalZoom.com, Inc. (NASDAQ:LZ)

Nuveen Asset Management LLC raised its holdings in LegalZoom.com, Inc. (NASDAQ:LZ) by 297.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,171,584 shares of the company’s stock after buying an additional 877,125 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.68% of LegalZoom.com worth $8,799,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LZ. Vanguard Group Inc. grew its holdings in shares of LegalZoom.com by 14.5% during the 4th 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 purchased a new position in LegalZoom.com in the 4th quarter worth approximately $5,769,000. Ararat Capital Management LP boosted its holdings in LegalZoom.com by 26.6% in the 4th quarter. Ararat Capital Management LP now owns 3,248,482 shares of the company’s stock worth $24,396,000 after acquiring an additional 682,678 shares during the period. JPMorgan Chase & Co. boosted its holdings in 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 during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in 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 during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

LegalZoom.com Trading Up 0.5%

LegalZoom.com stock opened at $9.49 on Thursday. The stock has a market cap of $1.72 billion, a P/E ratio of 73.01, a price-to-earnings-growth ratio of 1.73 and a beta of 1.14. The stock has a 50 day moving average of $8.17 and a 200-day moving average of $8.40. LegalZoom.com, Inc. has a 52 week low of $5.33 and a 52 week high of $10.60.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on LegalZoom.com from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Monday, May 19th. William Blair restated a “market perform” rating on shares of LegalZoom.com in a report on Thursday, February 27th. Wall Street Zen cut LegalZoom.com from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Morgan Stanley upped their target price on LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Friday, May 9th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, LegalZoom.com has an average rating of “Hold” and an average price target of $8.64.

LegalZoom.com 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.