Geode Capital Management LLC Sells 116,668 Shares of LegalZoom.com, Inc. $LZ

Geode Capital Management LLC lowered its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,740,902 shares of the company’s stock after selling 116,668 shares during the quarter. Geode Capital Management LLC owned 1.51% of LegalZoom.com worth $24,425,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Quantbot Technologies LP bought a new position in LegalZoom.com during the first quarter valued at $29,000. Jefferies Financial Group Inc. purchased a new position in shares of LegalZoom.com during the 1st quarter worth about $91,000. Focus Partners Advisor Solutions LLC purchased a new position in shares of LegalZoom.com during the 2nd quarter worth about $96,000. Versor Investments LP bought a new position in LegalZoom.com during the 2nd quarter valued at about $109,000. Finally, Brookwood Investment Group LLC purchased a new stake in LegalZoom.com in the 2nd quarter worth about $125,000. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LZ. JPMorgan Chase & Co. boosted their target price on LegalZoom.com from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, September 8th. Citigroup cut their price objective on LegalZoom.com from $12.00 to $10.50 and set a “neutral” rating on the stock in a research report on Friday, November 21st. Barclays increased their target price on LegalZoom.com from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 6th. William Blair raised shares of LegalZoom.com from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. Finally, Wall Street Zen cut shares of LegalZoom.com from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, LegalZoom.com presently has a consensus rating of “Hold” and an average price target of $11.08.

LegalZoom.com Trading Up 0.2%

Shares of LZ stock opened at $9.33 on Friday. LegalZoom.com, Inc. has a twelve month low of $6.47 and a twelve month high of $12.40. The stock has a fifty day simple moving average of $10.05 and a two-hundred day simple moving average of $9.75. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 77.71, a P/E/G ratio of 3.45 and a beta of 1.23.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.03). LegalZoom.com had a net margin of 3.05% and a return on equity of 9.91%. The firm had revenue of $190.16 million during the quarter, compared to the consensus estimate of $183.27 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The business’s revenue was up 12.8% compared to the same quarter last year. LegalZoom.com has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Research analysts predict that LegalZoom.com, Inc. will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Noel Bertram Watson sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $9.56, for a total transaction of $143,400.00. Following the transaction, the chief financial officer directly owned 1,551,582 shares in the company, valued at approximately $14,833,123.92. This trade represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicole Miller sold 23,506 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $9.63, for a total transaction of $226,362.78. Following the completion of the transaction, the insider directly owned 868,627 shares of the company’s stock, valued at $8,364,878.01. This trade represents a 2.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.90% of the stock is currently owned by company insiders.

LegalZoom.com Company 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.