US Bancorp DE Purchases 9,981 Shares of LegalZoom.com, Inc. (NASDAQ:LZ)

US Bancorp DE grew its position in LegalZoom.com, Inc. (NASDAQ:LZ) by 30.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,639 shares of the company’s stock after purchasing an additional 9,981 shares during the quarter. US Bancorp DE’s holdings in LegalZoom.com were worth $367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Ararat Capital Management LP boosted its position in shares of LegalZoom.com by 26.6% during the fourth 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 last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of LegalZoom.com by 30.4% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,020,431 shares of the company’s stock worth $15,173,000 after acquiring an additional 471,338 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of LegalZoom.com by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,396,523 shares of the company’s stock worth $10,489,000 after acquiring an additional 32,075 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of LegalZoom.com by 297.9% during the fourth quarter. Nuveen Asset Management LLC now owns 1,171,584 shares of the company’s stock worth $8,799,000 after acquiring an additional 877,125 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of LegalZoom.com by 103.2% during the fourth 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 last quarter. 81.99% of the stock is currently owned by institutional investors.

LegalZoom.com Stock Performance

LegalZoom.com stock opened at $10.73 on Thursday. The stock has a 50-day moving average of $9.04 and a two-hundred day moving average of $8.82. LegalZoom.com, Inc. has a one year low of $5.57 and a one year high of $11.93. The stock has a market cap of $1.93 billion, a PE ratio of 67.07, a price-to-earnings-growth ratio of 3.61 and a beta of 1.23.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.15 EPS for the quarter, meeting analysts’ consensus estimates of $0.15. LegalZoom.com had a return on equity of 20.36% and a net margin of 4.07%. The company had revenue of $192.51 million during the quarter, compared to analysts’ expectations of $182.49 million. During the same period last year, the business posted $0.10 earnings per share. The firm’s revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts predict that LegalZoom.com, Inc. will post 0.25 EPS for the current fiscal year.

Insider Activity

In related news, Director John Francis Murphy sold 24,250 shares of LegalZoom.com stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $10.57, for a total transaction of $256,322.50. Following the completion of the transaction, the director directly owned 69,953 shares in the company, valued at approximately $739,403.21. This trade represents a 25.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on LZ. JPMorgan Chase & Co. increased their price target on LegalZoom.com from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Monday, May 19th. Wall Street Zen upgraded LegalZoom.com from a “buy” rating to a “strong-buy” rating in a report on Friday, May 30th. Bank of America upgraded LegalZoom.com from an “underperform” rating to a “buy” rating and increased their price target for the company from $8.00 to $12.00 in a report on Friday, August 8th. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a report on Thursday, May 15th. Finally, Morgan Stanley increased their price target on LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Friday, May 9th. One 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, the company currently has a consensus rating of “Hold” and an average price target of $9.92.

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.