Rhumbline Advisers Reduces Stock Holdings in LegalZoom.com, Inc. $LZ

Rhumbline Advisers lowered 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 (SEC). The fund owned 188,112 shares of the company’s stock after selling 27,087 shares during the quarter. Rhumbline Advisers owned about 0.10% of LegalZoom.com worth $1,620,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in LZ. Quantbot Technologies LP acquired a new stake in LegalZoom.com in the first quarter valued at approximately $29,000. State of Wyoming grew its position 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 buying an additional 2,475 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of LegalZoom.com by 2,750.6% in the 1st quarter. GAMMA Investing LLC now owns 9,635 shares of the company’s stock valued at $83,000 after purchasing an additional 9,297 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of LegalZoom.com in the 1st quarter valued at about $91,000. Finally, Bryce Point Capital LLC purchased a new position in shares of LegalZoom.com in the 1st quarter valued at about $103,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

LZ has been the topic of several recent research reports. Barclays boosted their price objective on shares of LegalZoom.com from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 12th. Bank of America upgraded shares of LegalZoom.com from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $8.00 to $12.00 in a research report on Friday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of LegalZoom.com from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, September 8th. Citigroup upped their target price on shares of LegalZoom.com from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Monday, August 25th. Finally, Wall Street Zen lowered shares of LegalZoom.com from a “strong-buy” rating to a “buy” rating in a report on Friday, September 5th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, LegalZoom.com currently has an average rating of “Hold” and an average target price of $10.83.

LegalZoom.com Stock Performance

LZ stock opened at $11.10 on Friday. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 69.38, a PEG ratio of 3.27 and a beta of 1.25. LegalZoom.com, Inc. has a 1 year low of $6.26 and a 1 year high of $11.93. The stock’s fifty day moving average is $10.00 and its two-hundred day moving average is $9.10.

LegalZoom.com (NASDAQ:LZ) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.15 EPS for the quarter, meeting analysts’ consensus estimates of $0.15. The company had revenue of $192.51 million for the quarter, compared to analyst estimates of $182.49 million. LegalZoom.com had a return on equity of 20.36% and a net margin of 4.07%.The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. LegalZoom.com has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts predict that LegalZoom.com, Inc. will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling

In other LegalZoom.com news, CFO Noel Bertram Watson sold 27,319 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $11.07, for a total transaction of $302,421.33. Following the completion of the sale, the chief financial officer directly owned 1,676,426 shares in the company, valued at approximately $18,558,035.82. This trade represents a 1.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John Francis Murphy sold 24,250 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $10.57, for a total value of $256,322.50. Following the sale, the director owned 69,953 shares of the company’s stock, valued at $739,403.21. The trade was a 25.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 109,859 shares of company stock valued at $1,193,100. 5.90% of the stock is owned by corporate insiders.

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.