Allspring Global Investments Holdings LLC Acquires 16,430 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

Allspring Global Investments Holdings LLC increased its holdings in LegalZoom.com, Inc. (NASDAQ:LZ) by 54.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,857 shares of the company’s stock after buying an additional 16,430 shares during the period. Allspring Global Investments Holdings LLC’s holdings in LegalZoom.com were worth $403,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. State of Wyoming boosted its holdings in LegalZoom.com by 42.1% in the 4th quarter. State of Wyoming now owns 8,347 shares of the company’s stock valued at $63,000 after purchasing an additional 2,475 shares during the period. Quantessence Capital LLC bought a new position in LegalZoom.com in the 4th quarter valued at $78,000. Sei Investments Co. bought a new stake in shares of LegalZoom.com during the 4th quarter worth $83,000. GAMMA Investing LLC lifted its holdings in shares of LegalZoom.com by 2,750.6% during the 1st quarter. GAMMA Investing LLC now owns 9,635 shares of the company’s stock worth $83,000 after acquiring an additional 9,297 shares during the last quarter. Finally, Cibc World Markets Corp bought a new stake in shares of LegalZoom.com during the 4th quarter worth $90,000. 81.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LZ shares. Wall Street Zen raised shares of LegalZoom.com from a “buy” rating to a “strong-buy” rating in a report on Friday, May 30th. JPMorgan Chase & Co. lifted their price objective on shares of LegalZoom.com from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Monday, May 19th. 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 research note on Friday, May 9th. Finally, JMP Securities reissued a “market perform” rating on shares of LegalZoom.com in a research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, LegalZoom.com has a consensus rating of “Hold” and an average target price of $9.08.

LegalZoom.com Stock Performance

Shares of LZ opened at $9.17 on Friday. The stock has a market cap of $1.66 billion, a PE ratio of 53.94, a price-to-earnings-growth ratio of 3.82 and a beta of 1.23. LegalZoom.com, Inc. has a fifty-two week low of $5.56 and a fifty-two week high of $10.60. The firm’s 50-day simple moving average is $8.94 and its two-hundred day simple moving average is $8.61.

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

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.