LegalZoom.com, Inc. (NASDAQ:LZ) Stake Lowered by Rhumbline Advisers

Rhumbline Advisers cut its stake in LegalZoom.com, Inc. (NASDAQ:LZ) by 12.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 188,112 shares of the company’s stock after selling 27,087 shares during the quarter. Rhumbline Advisers owned approximately 0.11% of LegalZoom.com worth $1,620,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Mariner LLC increased its stake in shares of LegalZoom.com by 5.6% during the 4th quarter. Mariner LLC now owns 44,638 shares of the company’s stock worth $335,000 after purchasing an additional 2,348 shares during the last quarter. State of Wyoming boosted its holdings in LegalZoom.com by 42.1% in the fourth quarter. State of Wyoming now owns 8,347 shares of the company’s stock worth $63,000 after purchasing an additional 2,475 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in LegalZoom.com by 8.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 65,240 shares of the company’s stock worth $490,000 after buying an additional 5,045 shares during the last quarter. Walleye Trading LLC raised its holdings in LegalZoom.com by 33.2% during the fourth quarter. Walleye Trading LLC now owns 21,090 shares of the company’s stock valued at $158,000 after buying an additional 5,252 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of LegalZoom.com by 8.5% in the fourth quarter. MetLife Investment Management LLC now owns 85,168 shares of the company’s stock worth $640,000 after buying an additional 6,669 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

LegalZoom.com Stock Performance

Shares of LZ opened at $8.57 on Wednesday. The company has a 50-day simple moving average of $8.35 and a 200-day simple moving average of $8.52. LegalZoom.com, Inc. has a 52 week low of $5.33 and a 52 week high of $10.60. The firm has a market capitalization of $1.55 billion, a P/E ratio of 50.41, a P/E/G ratio of 3.74 and a beta of 1.25.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $183.11 million during the quarter, compared to analysts’ expectations of $176.17 million. LegalZoom.com had a return on equity of 28.00% and a net margin of 4.39%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 EPS. As a group, equities analysts forecast that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

Analysts Set New Price Targets

LZ has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on LegalZoom.com from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Monday, May 19th. Morgan Stanley lifted their price target on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Friday, May 9th. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a report on Thursday, May 15th. Wall Street Zen upgraded shares of LegalZoom.com from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 30th. Finally, Barclays boosted their target price on shares of LegalZoom.com from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $8.64.

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.