Principal Financial Group Inc. Sells 75,255 Shares of LegalZoom.com, Inc. $LZ

Principal Financial Group Inc. decreased its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 42.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 102,720 shares of the company’s stock after selling 75,255 shares during the period. Principal Financial Group Inc. owned approximately 0.06% of LegalZoom.com worth $1,066,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Arizona State Retirement System grew its stake in LegalZoom.com by 13.0% in the 3rd quarter. Arizona State Retirement System now owns 34,849 shares of the company’s stock worth $362,000 after buying an additional 4,015 shares in the last quarter. New York State Common Retirement Fund grew its position in LegalZoom.com by 43.8% in the third quarter. New York State Common Retirement Fund now owns 37,728 shares of the company’s stock worth $392,000 after acquiring an additional 11,500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in LegalZoom.com in the third quarter valued at $305,000. Federated Hermes Inc. raised its position in LegalZoom.com by 10.7% during the third quarter. Federated Hermes Inc. now owns 35,652 shares of the company’s stock valued at $370,000 after purchasing an additional 3,460 shares in the last quarter. Finally, Avory & Company LLC raised its position in LegalZoom.com by 0.4% during the third quarter. Avory & Company LLC now owns 376,419 shares of the company’s stock valued at $3,907,000 after purchasing an additional 1,586 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wall Street Zen lowered LegalZoom.com from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Citigroup cut their target price on LegalZoom.com from $12.00 to $10.50 and set a “neutral” rating for the company in a research note on Friday, November 21st. William Blair raised shares of LegalZoom.com from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. Barclays boosted their price objective on shares of LegalZoom.com from $10.00 to $12.00 and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Finally, Zacks Research lowered shares of LegalZoom.com from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.90.

LegalZoom.com Price Performance

LZ opened at $6.97 on Thursday. The firm has a market cap of $1.24 billion, a PE ratio of 58.09, a P/E/G ratio of 1.16 and a beta of 1.22. The stock has a 50-day moving average price of $9.11 and a 200-day moving average price of $9.80. LegalZoom.com, Inc. has a 1 year low of $6.47 and a 1 year high of $12.40.

LegalZoom.com Company Profile

LegalZoom.com, Inc (NASDAQ: LZ) operates as a leading online legal technology company that provides a broad range of legal and business services to individuals, families and small businesses. Through its digital platform, the company offers customized legal documents and filing services, including business formation (LLCs, corporations and nonprofits), estate planning (wills and trusts), intellectual property protection (trademarks and copyrights), and ongoing compliance support. LegalZoom also connects customers with independent attorneys for consultations on matters such as family law, immigration and real estate.

Founded in 2001 by entrepreneurs Brian Lee, Brian P.